S.A.L. Steel Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
SALSTEEL · price
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Awaiting price reaction for this filing.
S.A.L. Steel reported Q1 FY26 (quarter ended June 30, 2025) results with total revenue of ₹127.68 crores, up from ₹110.71 crores in the year-ago quarter (~15% growth). However, the company swung to a net loss of ₹9.68 crores compared to a small profit of ₹0.16 crores in Q1 FY25, with total expenses ballooning to ₹140.62 crores. The statutory auditor (Parikh & Majmudar) issued a qualified opinion, flagging non-provision of electricity duty (₹90.40 lakhs) and non-impairment of Capital Work in Progress (₹100.94 lakhs), which together would have pushed the loss even higher. An emphasis of matter was raised for non-compliance with Ind AS 108 segment reporting norms. The company's reserves have eroded to negative ₹46.24 crores, and the Board also approved the 22nd AGM notice for September 26, 2025.
Negative for shareholders – widening losses, a qualified audit opinion, and severely eroded reserves signal serious financial stress and potential going-concern issues. The stock may see pressure given the weak operational performance and audit qualifications.