Steel Authority of India Limited has informed the Exchange regarding Board meeting held on July 25, 2025 wherein unaudited financial results for quarter ended 30 June 2025 were approved
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SAIL's Board approved unaudited standalone and consolidated financial results for Q1 FY26 on July 25, 2025. Revenue from operations rose to ₹25,921.46 crore from ₹23,997.78 crore in Q1 FY25, an 8% year-on-year increase. Net profit jumped sharply to ₹685.48 crore from just ₹10.68 crore a year ago, translating to EPS of ₹1.66 (vs ₹0.03). Operating margin stood at 11.29% and debt-to-equity improved to 0.64 from 0.77. However, auditors issued a qualified review report flagging issues around entry tax provisions of ₹106.70 crore, accounting treatment of ₹344.75 crore DVC electricity refund, and recoverability of ₹448.03 crore in DVC advances, which could reduce reserves by ₹415.12 crore if adjusted.
Strong operational turnaround with profit rebounding significantly, though the qualified audit opinion and large contingent liabilities (water charges ₹1,116.84 crore, sub-grade fines inventory ₹3,849.58 crore pending dispatch clearance) introduce uncertainty. Investors should weigh the earnings recovery against ongoing tax, regulatory, and governance risks including non-compliance with board composition norms.