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Last Updated: April 2, 2026, 3:43 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500113 | NSE: SAIL

Steel Authority of India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹109.69Overvalued by 29.69%vs CMP ₹156.00

P/E (21.2) × ROE (4.5%) × BV (₹141.00) × DY (1.03%)

₹137.11Overvalued by 12.11%vs CMP ₹156.00
MoS: -13.8% (Negative)Confidence: 37/100 (Low)Models: 2 Under, 2 Fair, 3 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹81.5930%Over (-47.7%)
Graham NumberEarnings₹146.3422%Fair (-6.2%)
Net Asset ValueAssets₹141.2510%Fair (-9.5%)
EV/EBITDAEnterprise₹235.2712%Under (+50.8%)
Earnings YieldEarnings₹67.5010%Over (-56.7%)
ROCE CapitalReturns₹242.3410%Under (+55.3%)
Revenue MultipleRevenue₹124.197%Over (-20.4%)
Consensus (7 models)₹137.11100%Overvalued
Key Drivers: EPS CAGR -25.6% drags value — could be higher if earnings stabilize. | ROE 4.5% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -25.6%

*Investments are subject to market risks

Investment Snapshot

52
Steel Authority of India Ltd scores 52/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health46/100 · Moderate
ROCE 6.8% WeakROE 4.5% WeakD/E 0.78 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money85/100 · Strong
FII holding up 1.33% (6mo) AccumulatingDII holding up 2.09% MF buyingPromoter holding at 65.0% Stable
Earnings Quality40/100 · Moderate
OPM contracting (15% → 11%) Declining
Quarterly Momentum68/100 · Strong
Revenue (4Q): +8% YoY GrowingProfit (4Q): +24% YoY Positive
Industry Rank40/100 · Moderate
P/E 21.2 vs industry 22.3 In-lineROCE 6.8% vs industry 8.8% Average3Y sales CAGR: 0% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Steel Authority of India Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
50/100
Moderate
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 21.2 vs Ind 22.3 | ROCE 6.8% | ROE 4.5% | CFO/NP N/A
Balance Sheet Stress
30/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.78x | IntCov 0.0x | Current 0.78x | Borrow/Reserve 0.62x
Cash Flow Reliability
14/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹2,372 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII +0.78 pp | DII -0.26 pp | Prom 0.00 pp
Business Momentum
-14
Early weakness
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +2.5% | Q NP -10.7% | Q OPM -1.0 pp
Derived FieldValueHow it is derived
Valuation Gap %-12.1%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.62xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change+0.78 ppLatest FII% minus previous FII%
DII Change-0.26 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-91,177Latest shareholder count minus previous count
Quarterly Sales Change+2.5%Latest quarter sales vs previous quarter sales
Quarterly Profit Change-10.7%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change-1.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:43 am

Market Cap 64,362 Cr.
Current Price 156
Intrinsic Value₹137.11
High / Low 168/101
Stock P/E21.2
Book Value 141
Dividend Yield1.03 %
ROCE6.76 %
ROE4.54 %
Face Value 10.0
PEG Ratio-0.83

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Steel Authority of India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Steel Authority of India Ltd 64,362 Cr. 156 168/10121.2 1411.03 %6.76 %4.54 % 10.0
Shyam Metalics & Energy Ltd 22,247 Cr. 797 1,001/73722.9 3950.56 %12.0 %8.99 % 10.0
Technocraft Industries (India) Ltd 5,111 Cr. 2,254 3,392/1,86818.6 8310.89 %15.8 %14.5 % 10.0
Prakash Industries Ltd 2,158 Cr. 120 191/1106.53 1911.25 %11.2 %11.2 % 10.0
Steel Exchange India Ltd 952 Cr. 7.63 11.6/6.9749.1 6.020.00 %9.84 %2.43 % 1.00
Industry Average47,622.23 Cr296.8422.32160.060.39%8.78%7.09%7.50

All Competitor Stocks of Steel Authority of India Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 25,04229,13124,35929,71223,34927,95923,99824,67524,49029,31625,92226,70427,371
Expenses 22,96426,20622,71025,83721,20624,47621,77821,76222,46025,83223,15324,17625,077
Operating Profit 2,0792,9241,6493,8752,1423,4832,2202,9132,0303,4842,7692,5282,294
OPM % 8%10%7%13%9%12%9%12%8%12%11%9%8%
Other Income 509519527-174355-43-28322393362235-34248
Interest 640517613605614642691758680664595484547
Depreciation 1,2211,3651,2751,3271,3211,3561,4021,3041,4211,5241,4411,4531,516
Profit before tax 7261,5622881,7705631,441981,1733231,657968556480
Tax % 25%26%26%26%25%22%17%24%56%25%23%25%22%
Net Profit 5421,1592121,3064231,126828971421,251745419374
EPS in Rs 1.312.810.513.161.022.730.202.170.343.031.801.010.91

Last Updated: February 4, 2026, 2:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 11:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 46,80446,03238,79344,21057,49666,97361,66469,114103,477104,448105,378102,479109,313
Expenses 42,64641,21741,62844,09452,78857,16751,40056,33782,11496,41094,22991,78998,238
Operating Profit 4,1574,815-2,8341154,7089,80710,26412,77621,3638,03811,14910,69011,075
OPM % 9%10%-7%0%8%15%17%18%21%8%11%10%10%
Other Income 2,0718924253786542832801,3499021,8566651,006811
Interest 1,0471,5552,3002,5282,8233,1553,4872,8171,6982,0372,4742,7932,291
Depreciation 1,8361,9072,4042,6823,0663,3853,7564,1034,2754,9645,2785,6515,934
Profit before tax 3,3462,245-7,114-4,716-5273,5493,3027,20616,2922,8924,0623,2523,661
Tax % 21%14%-41%-42%-47%34%36%42%25%25%24%27%
Net Profit 2,6521,939-4,176-2,756-2812,3492,1214,14812,2432,1773,0672,3722,788
EPS in Rs 6.424.93-10.11-6.67-0.685.695.1310.0429.645.277.425.746.75
Dividend Payout % 31%41%0%0%0%9%0%28%30%28%27%28%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-26.89%-315.37%34.00%89.80%935.94%-9.71%95.57%195.15%-82.22%40.88%-22.66%
Change in YoY Net Profit Growth (%)0.00%-288.48%349.37%55.80%846.14%-945.65%105.27%99.59%-277.37%123.10%-63.54%

Steel Authority of India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:8%
5 Years:11%
3 Years:0%
TTM:-1%
Compounded Profit Growth
10 Years:3%
5 Years:0%
3 Years:-41%
TTM:-21%
Stock Price CAGR
10 Years:9%
5 Years:26%
3 Years:16%
1 Year:-3%
Return on Equity
10 Years:5%
5 Years:9%
3 Years:5%
Last Year:5%

Last Updated: September 5, 2025, 1:36 pm

Balance Sheet

Last Updated: December 4, 2025, 2:01 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 4,1314,1314,1314,1314,1314,1314,1314,1314,1314,1314,1314,1314,131
Reserves 39,15439,64136,02132,91232,81635,51637,38041,27650,08150,61652,97154,77554,147
Borrowings 26,02032,14635,14141,39645,40945,17054,12737,67717,28430,77336,32336,93433,663
Other Liabilities 24,76726,93226,23429,40533,33933,38531,56035,00748,88545,26247,59840,87842,222
Total Liabilities 94,072102,849101,527107,843115,694118,201127,198118,090120,381130,782141,022136,718134,163
Fixed Assets 28,17539,01145,94250,30058,62561,37469,03467,61873,67773,54372,42673,32772,448
CWIP 33,95829,32824,92723,27518,39516,0148,7538,8814,7104,8916,1417,2068,842
Investments 91612,2802,4752,6292,9753,2403,4423,7574,1854,5894,9764,102
Other Assets 31,84734,45028,37731,79236,04437,83846,17038,14938,23748,16357,86751,20948,772
Total Assets 94,072102,849101,527107,843115,694118,201127,198118,090120,381130,782141,022136,718134,163

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 6,3132,5794,0432,1606,1647,215-61823,43030,987-5,2902,9119,914
Cash from Investing Activity + -7,488-6,292-4,805-5,467-6,480-3,694-4,261-3,295-3,976-3,371-4,261-5,268
Cash from Financing Activity + 1,0173,7757433,302269-3,5495,003-19,808-27,3988,5871,362-4,424
Net Cash Flow -15863-20-5-47-28125328-387-7412222
Free Cash Flow -2,609-5,038-2,450-3,267-4413,335-4,99920,01927,557-8,812-1,2974,537
CFO/OP 172%65%-132%1,863%134%74%-5%184%145%-61%27%99%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-22.00-28.00-37.0074.00-41.00-36.00-44.00-25.004.00-22.00-25.00-26.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 432630242525524317192927
Inventory Days 272370308274199243370207170180222211
Days Payable 567782908789971071439210375
Cash Conversion Cycle 25931925520913717932514444107148163
Working Capital Days -34-68-137-172-87-51-24-78-39-41-20-18
ROCE %5%5%-6%-2%3%9%8%11%24%6%8%7%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 65.00%65.00%65.00%65.00%65.00%65.00%65.00%65.00%65.00%65.00%65.00%65.00%
FIIs 4.69%3.82%3.69%4.34%3.18%3.01%2.82%2.59%3.21%3.65%3.76%4.54%
DIIs 12.40%13.63%14.61%15.46%15.86%15.72%16.04%15.86%15.75%17.30%18.10%17.84%
Public 17.91%17.56%16.70%15.20%15.96%16.27%16.15%16.55%16.05%14.03%13.14%12.63%
No. of Shareholders 15,21,98814,99,83614,83,37115,03,77916,43,07318,42,45419,88,07620,40,66920,46,32619,08,38417,98,68717,07,510

Shareholding Pattern Chart

No. of Shareholders

Steel Authority of India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Mirae Asset Large & Midcap Fund 37,810,967 1.46 626.5730,810,9672026-03-24 01:55:3622.72%
Mirae Asset Midcap Fund 30,416,495 2.79 504.0324,991,0072026-03-24 02:11:1021.71%
Mirae Asset ELSS Tax Saver Fund 20,188,959 1.28 334.5511,773,9592026-03-24 00:21:4771.47%
SBI Large & Midcap Fund 18,245,700 0.78 302.3518,833,2002025-12-15 05:32:33-3.12%
Tata Arbitrage Fund 14,894,300 1.16 246.8110,062,7002026-03-12 01:57:3848.01%
SBI Contra Fund 10,333,817 0.35 171.24N/AN/AN/A
UTI Arbitrage Fund 8,690,300 1.3 144.017,275,6002026-03-12 01:57:3819.44%
HDFC Large and Mid Cap Fund 8,637,665 0.5 143.13N/AN/AN/A
SBI Balanced Advantage Fund 7,829,845 0.32 129.753,757,3592025-12-15 05:32:33108.39%
SBI Multi Asset Allocation Fund 6,173,203 0.63 102.36,130,2252026-02-23 01:20:100.7%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 5.747.425.2729.6410.04
Diluted EPS (Rs.) 5.747.425.2729.6410.04
Cash EPS (Rs.) 18.2419.1415.7238.9818.84
Book Value[Excl.RevalReserv]/Share (Rs.) 142.61138.24132.54131.25109.93
Book Value[Incl.RevalReserv]/Share (Rs.) 142.61138.24132.54131.25109.93
Revenue From Operations / Share (Rs.) 248.10255.12252.87250.52167.32
PBDIT / Share (Rs.) 27.8929.5721.7653.7532.92
PBIT / Share (Rs.) 14.2116.809.7543.4022.99
PBT / Share (Rs.) 6.698.775.4438.4316.31
Net Profit / Share (Rs.) 4.566.363.7128.638.91
NP After MI And SOA / Share (Rs.) 5.747.425.2729.6410.04
PBDIT Margin (%) 11.2411.598.6021.4519.67
PBIT Margin (%) 5.726.583.8517.3213.74
PBT Margin (%) 2.693.432.1515.349.74
Net Profit Margin (%) 1.832.491.4611.425.32
NP After MI And SOA Margin (%) 2.312.912.0811.836.00
Return on Networth / Equity (%) 4.025.373.9722.589.13
Return on Capital Employeed (%) 6.507.954.9622.1913.05
Return On Assets (%) 1.732.171.6610.193.47
Long Term Debt / Equity (X) 0.170.160.110.150.43
Total Debt / Equity (X) 0.500.530.460.240.78
Asset Turnover Ratio (%) 0.730.770.840.870.56
Current Ratio (X) 1.010.980.860.850.78
Quick Ratio (X) 0.270.280.200.230.36
Inventory Turnover Ratio (X) 2.881.652.201.961.07
Dividend Payout Ratio (NP) (%) 17.4120.2061.6728.009.95
Dividend Payout Ratio (CP) (%) 5.147.4218.8020.755.00
Earning Retention Ratio (%) 82.5979.8038.3372.0090.05
Cash Earning Retention Ratio (%) 94.8692.5881.2079.2595.00
Interest Coverage Ratio (X) 4.124.944.4113.074.83
Interest Coverage Ratio (Post Tax) (X) 1.792.401.628.172.29
Enterprise Value (Cr.) 76283.3785339.0959386.2953305.9767349.16
EV / Net Operating Revenue (X) 0.740.800.560.510.97
EV / EBITDA (X) 6.626.996.612.404.95
MarketCap / Net Operating Revenue (X) 0.460.520.320.390.47
Retention Ratios (%) 82.5879.7938.3271.9990.04
Price / BV (X) 0.800.970.620.750.71
Price / Net Operating Revenue (X) 0.460.520.320.390.47
EarningsYield 0.040.050.060.300.12

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Steel Authority of India (SAIL) Ltd. is a Public Limited Listed company incorporated on 24/01/1973 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L27109DL1973GOI006454 and registration number is 006454. Currently Company is involved in the business activities of Manufacture of basic iron and steel. Company's Total Operating Revenue is Rs. 102478.19 Cr. and Equity Capital is Rs. 4130.53 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
SteelIspat Bhawan, New Delhi Delhi 110003Contact not found
Management
NamePosition Held
Mr. Amarendu PrakashChairman & Managing Director
Dr. Gopal Singh BhatiIndependent Director
Dr. Anju BajpaiIndependent Director
Mr. Manjeet Kumar RazdanIndependent Director
Mr. Pranoy RoyIndependent Director
Mr. Krishna Kumar SinghDirector - Personnel
Mr. Birendra Kumar TiwariDirector
Mr. Manish Raj GuptaFunctional Director
Mr. Alok VermaFunctional Director
Dr. Ashok Kumar PandaDirector - Finance
Mr. Surajit MishraFunctional Director
Mr. Chitta Ranjan MohapatraFunctional Director
Mr. Abhijit NarendraGovernment Director
Mr. Ashish ChatterjeeGovernment Director

FAQ

What is the intrinsic value of Steel Authority of India Ltd and is it undervalued?

As of 05 April 2026, Steel Authority of India Ltd's intrinsic value is ₹137.11, which is 12.11% lower than the current market price of ₹156.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (4.54 %), book value (₹141), dividend yield (1.03 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Steel Authority of India Ltd?

Steel Authority of India Ltd is trading at ₹156.00 as of 05 April 2026, with a FY2026-2027 high of ₹168 and low of ₹101. The stock is currently near its 52-week high. Market cap stands at ₹64,362 Cr..

How does Steel Authority of India Ltd's P/E ratio compare to its industry?

Steel Authority of India Ltd has a P/E ratio of 21.2, which is below the industry average of 22.32. This is broadly in line with or below the industry average.

Is Steel Authority of India Ltd financially healthy?

Key indicators for Steel Authority of India Ltd: ROCE of 6.76 % is on the lower side compared to the industry average of 8.78%; ROE of 4.54 % is below ideal levels (industry average: 7.09%). Dividend yield is 1.03 %.

Is Steel Authority of India Ltd profitable and how is the profit trend?

Steel Authority of India Ltd reported a net profit of ₹2,372 Cr in Mar 2025 on revenue of ₹102,479 Cr. Compared to ₹12,243 Cr in Mar 2022, the net profit shows a declining trend.

Does Steel Authority of India Ltd pay dividends?

Steel Authority of India Ltd has a dividend yield of 1.03 % at the current price of ₹156.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Steel Authority of India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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