Outcome of Board Meeting held on May 29, 2026
SALSTEEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
S.A.L. Steel Ltd reported strong revenue growth of 78% to Rs. 207.40 crore for FY2026, up from Rs. 116.38 crore in the previous year. The company returned to profitability with a net loss of Rs. 0.35 crore, significantly improved from a loss of Rs. 6.43 crore last year. An exceptional item of Rs. 16.09 crore was recorded due to write-back of by-products consumption. However, cash flow from operations turned sharply negative at Rs. 84.31 crore, indicating working capital stress. The board approved a Rs. 50 crore term loan from Axis Finance to repay ICDs to AIA Engineering, and appointed new internal and cost auditors for FY2026-27. The plant has resumed operations after a modernization shutdown. Total assets nearly doubled to Rs. 621.47 crore, while borrowings increased substantially to Rs. 290.91 crore in non-current liabilities.
Positive revenue growth and return to near-breakeven profitability are encouraging, but the deeply negative operating cash flow of Rs. 84.31 crore raises serious concerns about liquidity. The Rs. 50 crore debt raise to repay another company suggests potential tight cash positions. Shareholders should monitor cash flow generation as the plant resumes full operations.