Manufactures steel at a plant in Bharapar, Gujarat, with operations centred on a pellet facility and a furnace that was recently upgraded. FY26 revenue stood at ₹207.4 crore against ₹198.89 crore in raw materials cost, and the plant resumed production after a modernisation shutdown. A ₹20 crore outlay from a ₹48.26 crore preferential warrant issue was allocated to the pellet plant and ₹10 crore to furnace refurbishment, with the balance going to plant infrastructure, working capital and general corporate use. A fresh ₹50 crore term loan from Axis Finance was raised to retire an inter-corporate deposit owed to AIA Engineering. Total assets reached ₹621.47 crore, capex was ₹174.83 crore, and net result for the year was a small loss of ₹0.35 crore. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Steel manufacturing. Cyclical, asset-heavy steel manufacturer undergoing capacity expansion
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 505 | 496 | 577 | 544 | 207 |
| EBITDA (ex other income) | (4) | 8 | 21 | 19 | 31 |
| margin % | (0.7) | 1.7 | 3.7 | 3.5 | 14.8 |
| Owners' profit | 12 | 4 | 0 | (6) | (0) |
| EPS, as reported (₹) | 1.36 | 0.42 | 0.06 | (0.76) | (0.04) |
| ROE % · ROCE % | 30.5 · 27.3 | 8.5 · 7.1 | 1.1 · 7.1 | (16.6) · 5.1 | (0.2) · 4.0 |
| Debt / equity (x) | 3.28 | 3.01 | 2.97 | 4.58 | 2.38 |
| Cash from operations | 22 | 8 | 26 | (21) | (84) |
| Capex | 0 | (2) | (14) | (19) | (175) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 123 | 194 | 116 | 128 | 66 | 2 | 12 | 87 |
| Profit before tax | 0 | 0 | (8) | (13) | 5 | 8 | (0) | 5 |
| Net profit | 0 | (1) | (6) | (10) | 4 | 7 | (1) | 3 |
| EPS (₹) | 0.01 | (0.08) | (0.70) | (1.14) | 0.44 | 0.68 | (0.07) | 0.21 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 2 Sept 2026 · SAL Steel submits 23rd AGM notice newspaper clippings to exchanges | compliance | minimal | — | — |
| 1 Sept 2026 · SAL Steel submits Annual Report 2025-26 and 23rd AGM notice for Sep 25, 2026 | compliance | minimal | — | — |
| 1 Sept 2026 · SAL Steel 23rd AGM scheduled on Sep 25, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 14 Aug 2026 · SAL Steel swings to Q1 FY27 profit of Rs 3.09 Cr; revenue down 32% | results | high | — | — |
| 14 Aug 2026 · SAL Steel Q1 FY27 profit at Rs 3.09 cr vs loss year ago, revenue down 31 percent | results | high | — | — |
| 11 Aug 2026 · Vora Financial Services buys 5.05% stake in SAL Steel via open market | ownership changes | medium | — | — |
| 6 Aug 2026 · Board meeting on 14 Aug 2026 to approve Q1 FY27 results | board shareholder meetings | low | — | — |
| 5 Aug 2026 · SEBI extends deadline for Sree Metaliks open offer on SAL Steel till Oct 13, 2026 | compliance | minimal | — | — |
| 20 Jul 2026 · Promoter group declares no new share encumbrances for FY26 | compliance | minimal | — | — |
| 7 Jul 2026 · Compliance certificate under SEBI Regulation 74(5) for June 2026 quarter | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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