Stock Report

SAIL Q1 FY27 Net Profit Surges 120.8% YoY to ₹1,644 Crore; Operational Revenue Up 1.25% to ₹26,246 Crore

Posted On : 2026-07-24 20:45:25( TIMEZONE : IST )

Steel Authority of India Limited (SAIL; NSE: SAIL, BSE: 500113, CIN: L27109DL1973GOI006454), the Maharatna public sector steel manufacturing giant, announced its consolidated unaudited financial results for the first quarter ended June 30, 2026 (Q1 FY27).

The state-owned steel maker delivered a strong bottom-line performance, with net profit more than doubling year-on-year (YoY) despite minor headwinds in physical sales volumes and crude steel production.

Overall Financial & Revenue Performance

Note: Financial figures from the official filings are reported in ₹ Crore.

Revenue from Operations: Rose 1.25% YoY to ₹26,245.67 crore in Q1 FY27, compared to ₹25,921.76 crore in Q1 FY26. On a sequential basis, revenue declined 14.82% QoQ from ₹30,813.49 crore recorded in Q4 FY26.

Other Income: Increased 26.77% YoY to ₹205.54 crore, up from ₹162.14 crore in Q1 FY26.

Total Income: Reached ₹26,451.21 crore, registering a 1.41% YoY increase over ₹26,083.90 crore in Q1 FY26 (down 15.13% QoQ from ₹31,165.15 crore in Q4 FY26).

EBITDA: Came in strong at ₹4,356 crore for the quarter, rising significantly from ₹2,925 crore in Q1 FY26, though lower than ₹4,762 crore reported in Q4 FY26.

Profit Before Exceptional Items & Tax: Advanced 161.49% YoY to ₹2,330.69 crore, up from ₹967.81 crore in Q1 FY26.

Exceptional Items: Stood at -₹144.01 crore for the quarter (compared to nil in Q1 FY26 and -₹329.78 crore in Q4 FY26).

Profit Before Tax (PBT): Surged 125.94% YoY to ₹2,186.68 crore, compared to ₹967.81 crore in Q1 FY26 (down 12.59% QoQ from ₹2,501.80 crore in Q4 FY26).

Tax Expense: Totaled ₹542.63 crore (comprising current tax of ₹660.73 crore and a deferred tax credit of ₹118.10 crore), up from ₹223.23 crore in Q1 FY26.

Net Profit After Tax (PAT): Surged 120.80% YoY to ₹1,644.05 crore, compared to ₹744.58 crore in Q1 FY26 (down 10.43% QoQ from ₹1,835.47 crore in Q4 FY26).

Earnings Per Share (EPS): Basic and Diluted EPS for the quarter rose to ₹3.98 per share (face value ₹10/- each, not annualized), up from ₹1.80 in Q1 FY26 and ₹4.44 in Q4 FY26.

Operational Volumes & Production Highlights

Crude Steel Production: Totaled 4.76 million tonnes in Q1 FY27, compared to 4.85 million tonnes in Q1 FY26 and 5.08 million tonnes in Q4 FY26.

Sales Volume: Recorded at 4.16 million tonnes, compared to 4.55 million tonnes in Q1 FY26 and 5.32 million tonnes in Q4 FY26.

Consolidated Expense Breakdown (Q1 FY27)

Total consolidated expenses for Q1 FY27 dropped 4.14% YoY to ₹24,146.32 crore, down from ₹25,189.19 crore in Q1 FY26 and ₹28,513.99 crore in Q4 FY26, driven primarily by lower material input costs:

Cost of Materials Consumed: ₹12,633.43 crore (versus ₹10,768.14 crore in Q1 FY26).

Purchase of Stock-in-Trade: ₹460.05 crore (versus ₹2,005.47 crore in Q1 FY26).

Changes in Inventories: -₹2,242.08 crore (versus -₹403.77 crore in Q1 FY26).

Employee Benefits Expense: ₹2,940.90 crore (versus ₹2,947.75 crore in Q1 FY26).

Finance Costs: Reduced to ₹493.02 crore (versus ₹594.60 crore in Q1 FY26 and ₹532.04 crore in Q4 FY26).

Depreciation & Amortization: ₹1,560.34 crore (versus ₹1,441.49 crore in Q1 FY26).

Other Expenses: ₹8,300.66 crore (versus ₹7,835.51 crore in Q1 FY26).

Plant-Wise Segment Revenue & Earnings Performance

1. Plant Revenues (Q1 FY27)

Bhilai Steel Plant: ₹7,485.33 crore (versus ₹7,448.88 crore in Q1 FY26).

Bokaro Steel Plant: ₹7,204.82 crore (versus ₹6,315.19 crore in Q1 FY26).

Rourkela Steel Plant: ₹7,263.23 crore (versus ₹5,967.48 crore in Q1 FY26).

IISCO Steel Plant: ₹2,771.02 crore (versus ₹2,889.89 crore in Q1 FY26).

Durgapur Steel Plant: ₹2,731.39 crore (versus ₹2,657.35 crore in Q1 FY26).

Salem Steel Plant: ₹434.06 crore (versus ₹497.47 crore in Q1 FY26).

Alloy Steels Plant: ₹357.53 crore (versus ₹311.85 crore in Q1 FY26).

Visvesvaraya Iron & Steel Plant: ₹76.02 crore (versus ₹56.44 crore in Q1 FY26).

Others: ₹776.90 crore (versus ₹2,171.01 crore in Q1 FY26).

Inter-segment revenue deduction stood at ₹2,854.63 crore.

2. Plant Results (PBIT before Interest, Exceptional Items & Tax)

Rourkela Steel Plant: Profit of ₹857.84 crore (up 231.92% YoY from ₹258.45 crore in Q1 FY26).

Bokaro Steel Plant: Profit of ₹844.90 crore (up 213.62% YoY from ₹269.40 crore in Q1 FY26).

Bhilai Steel Plant: Profit of ₹838.38 crore (up 10.18% YoY from ₹760.90 crore in Q1 FY26).

IISCO Steel Plant: Profit of ₹270.41 crore (up 18.55% YoY from ₹228.09 crore in Q1 FY26).

Durgapur Steel Plant: Profit of ₹168.98 crore (versus ₹70.62 crore in Q1 FY26).

Alloy Steels Plant: Turned profitable at ₹9.31 crore (versus a loss of ₹3.40 crore in Q1 FY26).

Salem Steel Plant: Loss of ₹66.07 crore (versus a loss of ₹64.99 crore in Q1 FY26).

Visvesvaraya Iron & Steel Plant: Loss of ₹2.51 crore (versus a loss of ₹10.57 crore in Q1 FY26).

Balance Sheet Position

Paid-up Equity Share Capital: Remained at ₹4,130.53 crore (Face value ₹10/- per share).

Reserves (excluding revaluation reserve): Expanded to ₹57,807.86 crore as of June 30, 2026, compared to ₹55,401.67 crore as of June 30, 2025.

Total Segment Assets: Stood at ₹1,40,998.33 crore, compared to ₹1,35,475.00 crore as of June 30, 2025.

Total Segment Liabilities: Stood at ₹79,059.94 crore, compared to ₹75,942.80 crore as of June 30, 2025.

The company reported strong profitability in Q1FY27, with net profit rising by over 138% compared to the corresponding period last year (CPLY). During Q1FY27, SAIL moderated volumes compared to CPLY by advancing certain scheduled repairs and maintenance during the quarter, a step necessitated by geopolitical volatility that disrupted the supply chain across the globe. This forward-looking & planned intervention is expected to support greater production stability and improved performance in the coming quarters.

Commenting on the results of the first quarter of the current financial year. Chairman & Managing Director, SAIL, Dr. Ashok Kumar Panda said, "Amid global uncertainties, the domestic steel industry demonstrated resilience backed by sustained demand in domestic steel consumption. SAIL, through enhanced operational efficiencies, prudent cost management and focused marketing initiatives, has delivered a significantly profitable first quarter in FY27. The company remains confident of leveraging robust manufacturing capabilities and continues to strengthen performance while capitalizing on the sustained domestic steel demand."

Shares of Steel Authority of India Limited was last trading in BSE at Rs. 161.55 as compared to the previous close of Rs. 160.80. The total number of shares traded during the day was 337071 in over 4277 trades.

The stock hit an intraday high of Rs. 162.75 and intraday low of 158.00. The net turnover during the day was Rs. 54146072.00.