Submission of Audited Standalone Financial Statement for the Quarter and the Financial Year ended on 31.03.2026
SALSTEEL · price
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S.A.L. Steel reported total revenue of Rs.116.94 Cr for FY26, down significantly from Rs.207.58 Cr in FY25 — roughly a 44% revenue decline. The company narrowed its net loss to Rs.0.39 Cr from Rs.7.31 Cr in the prior year, aided by an exceptional item of Rs.16.09 Cr (write-back of by-products stock after physical verification). EPS improved from Rs.(0.44) to Rs.(0.04). The auditors issued an unmodified opinion but noted two emphasis-of-matter items: pending balance confirmations from suppliers and customers, and the inventory write-back. The Board also approved a Rs.50 Crore term loan from Axis Finance (repayable in 20 quarterly installments) to retire an ICD of AIA Engineering. Plant operations have resumed after a modernization-driven shutdown. Net debt increased materially as non-current borrowings rose to Rs.290.91 Cr (from Rs.125 Cr), while operating cash flow turned deeply negative at Rs.(84.31) Cr.
Despite a smaller loss, the sharp revenue drop, deeply negative operating cash flow, and rising debt burden are red flags for shareholders. The Rs.50 Crore fresh borrowing adds leverage in a weak revenue environment, while the exceptional inventory write-back partially masks operational weakness.