SAIL

SAIL: Recovery Backed by India’s Infrastructure & Steel Demand Growth

Steel Authority of India Limited (SAIL) remains a strong play on India’s infrastructure, railway, defence, and construction growth story. As one of the country’s largest integrated steel producers, the company is well positioned to benefit from rising domestic steel demand driven by government capex, urbanization, and industrial expansion. The company has shown strong operational recovery with improving profitability, higher sales volumes, and better cost efficiency. For 9M FY26, SAIL reported revenue of ₹79,997 crore while profit after tax surged nearly 60% YoY to ₹1,554 crore. EBITDA stood at ₹8,384 crore, reflecting improved operational performance despite global steel price volatility. Steel sales volume also increased 16.3% YoY to 14.61 million tonnes, highlighting strong domestic demand momentum. In Q1 FY26, SAIL posted revenue of ₹25,921 crore and PAT jumped sharply to ₹685 crore compared to ₹11 crore in the corresponding period last year. EBITDA rose to ₹2,925 crore, supported by better realizations and operating leverage. The company has also reduced debt significantly by nearly ₹5,000 crore, strengthening its balance sheet and improving financial stability. SAIL’s ongoing modernization plans, capacity expansion, strong market presence, and government support for the domestic steel sector continue to support long-term growth potential. Rising infrastructure spending and import protection measures could further improve profitability going forward.