S.A.L. Steel Limited has informed the Exchange regarding Outcome of Board Meeting held on May 29, 2026.
SALSTEEL · price
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S.A.L. Steel Limited reported FY2026 audited standalone results with total revenue of Rs 207.58 crore, a significant increase from Rs 116.94 crore in the previous year, representing approximately 77% revenue growth. The company narrowed its net loss to Rs 0.39 crore from Rs 7.31 crore loss in the prior year. The auditor issued an unmodified (clean) opinion but included an Emphasis of Matter noting that balance confirmations from suppliers, banks and customers are still awaited. Additionally, the company wrote back Rs 16.09 crore worth of by-products consumption as an exceptional item. The Board also approved a Rs 50 crore term loan from Axis Finance Limited for repaying an Inter-Corporate Deposit to AIA Engineering Limited, secured by company assets and personal guarantees from promoters. The plant has resumed operations after a modernization program that caused temporary production shutdown. New internal auditor (NRPS & Associates LLP) and cost auditor (Ashish Bhavsar & Associates) were appointed for FY2026-27.
The significant revenue growth and narrowing losses signal operational improvement, though the company remains loss-making at net level. The heavy negative operating cash flow of Rs 84.31 crore and increased debt levels (total borrowings rose from Rs 177.53 crore to Rs 349.20 crore) raise liquidity concerns. The modernization-driven plant restart may support future revenue recovery.