S.A.L. Steel Ltd.

NSE: SALSTEEL · Sponge Iron · sector

₹77.31NSE close 2026-10-26

Key numbers

Market cap₹940 cr

Price₹77.31

52w high / low₹102 / ₹33

P/E61.4xSector median 36.4x

P/B6.4xSector median 3.7x

Book value₹12.1

Dividend yield–

ROE13.4%Sector median 5.5%

ROCE7.8%Sector median 7.9%

OPM29.7%Sector median 9.4%

Debt / equity2.38xSector median 0.98x

EV/EBITDA26.0xSector median 8.9x

Interest cover1.8x

Current ratio2.31x

Sales growth 3y-25.7%Sector median -22.4%

Profit growth 3y–Sector median -6.6%

PEG–

Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 5 companies in Sponge Iron (P/E median leaves out loss-making companies). Tap ? for what a number means.

Things to know

Cash ₹0 cr vs borrowings ₹349 cr (FY26): borrowings are higher by ₹349 cr.
Operating profit covered interest 1.8x in the last 12 months.
18.98% of the promoters' shares are pledged (13.5% of all shares).
Promoter holding rose by 20.42 percentage points in a year, to 70.98% (2026-09-30).
Operating cash flow was below net profit in 2 of the last 4 years (FY26, FY25).
Net loss in 4 of the last 8 quarters.
Revenue was higher than a year earlier in 0 of the last 4 quarters.
Other income was 0% of net profit in the last 12 months.
Debtor days went from 51 (FY23) to 3 (FY26).
No dividend in the last 5 financial years.
Price ₹77.31 on 2026-10-26: -24.5% from the 52-week high, +133.6% from the 52-week low.

Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.

Charts

Weekly close · high ₹98.92 · low ₹15.70

Quarterly results

₹ cr	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	123	194	116	128	66	2	12	87
EBITDA	6	7	-1	-5	13	16	7	14
OPM %	4.7%	3.9%	-0.6%	-4.3%	19.7%	729.5%	59.1%	15.5%
Other income	0	0	1	0	0	0	0	0
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
Revenue YoY					-46.8%	-98.9%	-89.7%	-31.5%
Profit YoY					+6,116.7%	–	–	–

Standalone figures where filed. Latest quarter Jun 2026.

Profit & loss (yearly)

₹ cr	FY21	FY22	FY23	FY25	FY26	TTM
Revenue	301	505	496	544	207	167
EBITDA	-0	-4	8	19	31	50
Net profit	12	12	4	-6	-0	12
EPS (₹)	1.36	1.36	0.42	-0.76	-0.04	1.26
Revenue growth		+67.9%	-1.9%	+9.8%	-61.9%	-70.2%
Profit growth		-0.1%	-69.4%	-281.6%	–	–
Dividend / share (₹)	–	–	–	–	–

Compounded growth	3 years	5 years	Last 12 months
Sales	-25.7%	–	-70.2%
Net profit	–	–	–
EPS	–	–	–
Share price	–	+80.1% (2y)	+146.1%

Balance sheet

₹ cr	FY22	FY23	FY25	FY26
Shareholders' equity	–	42	39	147
Borrowings	–	125	178	349
Cash & equivalents	–	1	0	0
Total assets	–	277	338	621
Fixed assets	–	136	151	142
Capital work in progress	–	3	1	174
Investments	–	0	0	0
Receivables	–	70	68	2
Inventory	–	59	100	233
Payables	–	29	20	25

Year-end figures from the March annual filing.

Cash flow

₹ cr	FY22	FY23	FY25	FY26
Cash from operations	22	8	-21	-84
Cash from investing	0	-2	-18	-175
Cash from financing	-22	-7	39	259
Capex	0	2	19	175
Free cash flow	22	6	-39	-259

Free cash flow = cash from operations − capex.

Ratios by year

₹ cr	FY22	FY23	FY25	FY26
ROE %	–	8.5%	-16.6%	-0.2%
ROCE %	–	8.0%	4.3%	4.0%
Debtor days	–	51	45	3
Inventory days	–	57	81	543
Payable days	–	28	17	58
Cash conversion cycle (days)	–	80	109	488
Working capital days	–	33	19	294

Shareholding

Holder	% (2026-09-30)
Promoters	70.98%
FIIs	0.04%
DIIs	0.00%
of which Mutual funds	0.00%
of which Insurance	0.00%
Government	0.00%
Public (non-institutions)	28.98%

Quarter	Sep 2025	Oct 2025	Dec 2025	Dec 2025	Feb 2026	Mar 2026	Jun 2026	Sep 2026
Promoters %	50.56%	41.22%	61.47%	61.47%	70.98%	70.98%	70.98%	70.98%

Promoter group	%
Sree Metaliks Limited	57.51%
Shah Alloys Limited	13.47%

Public holders above 1%	%
Vora Financial Services PVT Ltd	4.84%

53,557 shareholders. Pledged: 18.98% of promoter shares.

Peers in Sponge Iron

Company	Market cap	P/E	P/B	ROE	ROCE	OPM	Sales 3y	Div yield
KIOCL	₹19,679 cr	498.1x	11.3x	2.3%	2.8%	-0.8%	-26.5%	–
SALSTEEL	₹940 cr	61.4x	6.4x	13.4%	7.8%	29.7%	-25.7%	–
VRAJ	₹409 cr	11.4x	0.9x	8.7%	9.9%	9.8%	–	–
VASWANI	₹136 cr	–	0.9x	-0.0%	7.9%	9.4%	+6.0%	–
BIHSPONG	₹116 cr	9.9x	–	–	15.0%	-7.3%	-19.1%	–

All 5 companies in Sponge Iron →

Dividends & corporate actions

Ex-date	Action	Detail
2022-09-07	Other	Annual General Meeting
2021-09-13	Other	Annual General Meeting
2020-12-09	Other	Annual General Meeting
2019-09-11	Other	Annual General Meeting
2018-09-11	Other	Annual General Meeting (Date Revised)
2017-09-20	Other	Annual General Meeting
2016-09-14	Other	Annual General Meeting
2015-09-14	Other	Annual General Meeting
2014-09-15	Other	Annual General Meeting
2013-09-13	Other	Annual General Meeting
2012-09-13	Other	Annual General Meeting
2011-09-15	Other	Annual General Meeting
2010-09-08	Other	Annual General Meeting
2009-09-08	Other	Annual General Meeting
2008-09-08	Other	Annual General Meeting
2007-09-06	Other	Agm
2006-09-15	Other	Agm
2005-09-08	Other	Agm Purpose Revised

Documents

Links go to the original files on the exchange website.

About the company


Sector	Commodities
Industry	Sponge Iron
Sub-industry	Sponge Iron
Symbol	SALSTEEL
BSE code	532604
ISIN	INE658G01014
Face value	₹10.0
Incorporated	–
Website	–
Plants (India / abroad)	–

Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.