SAIL Q3 FY26: 9M PAT jumps 60%, auditor flags three qualifications

Qualified OpinionEmphasis Of MatterPat Growth 25pctExceptional ItemContingent Liabilities IncreasedEbitda Margin CompressionResults View source PDF Explain this filing

SAIL · price

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Price reactionminutes from the announcement price · days from the prior close

-1.0%Reaction day

₹150.98

prior close

₹148.10

announcement price

After-mkt

timing

Nifty Midcap 150market · index membership as recorded later (tracked since Jun 2026)-1.1%+0.1% vs market

Iron & Steel peers, median of 9sector-1.3%+0.3% vs sector

On the reaction day the stock moved 0.1 pts more than Nifty Midcap 150 and 0.3 pts more than its Iron & Steel peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-1.9

10m

-2.7

15m

-2.5

30m

-2.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.0-1.1+0.1-1.3+0.3

Next day

+1.9+1.8+0.1+0.3+1.6

+3.9+2.4+1.6+3.4+0.5

+5.8+2.1+3.8+2.6+3.2

+5.4+2.0+3.4+2.0+3.4

+5.0+3.6+1.4+4.6+0.5

+7.2+4.1+3.1+2.4+4.8

15d

+3.8+1.8+2.0+2.8+1.0

+9.7-0.1+9.8+4.2+5.4

+2.3-7.8+10.1-6.5+8.8

+23.8+3.1+20.7+10.1+13.7

UpDownMarket · Nifty Midcap 150Sector · Iron & Steel peers, median of 9Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

SAIL posted Q3 FY26 standalone revenue of Rs 27,371 crore, up nearly 12% year on year. Net profit rose to Rs 442 crore from Rs 126 crore. 9M FY26 PAT climbed 60% to Rs 1,554 crore on revenue of Rs 79,997 crore. Despite strong numbers, auditor issued a qualified review on three counts: Rs 110 crore entry tax matter, Rs 448 crore DVC advance recoverability, and Rs 1,146 crore water charges demand from Jharkhand. Rs 338 crore exceptional charge for gratuity limit hike booked. Board lacks required independent and non-executive directors, breaching listing rules.

Likely market impact

Strong profit growth is positive, but qualified auditor report across tax, advances and water charges, plus board composition gaps, calls for investor caution.