WEBSITE BSE:532604 NSE: SALSTEEL Inc. Year: 2003 Industry: Steel/Sponge Iron/Pig Iron
Last updated: 15:15
SAL Steel Limited is a steel, ferro alloys and power producer and exporter based in Gujarat, India. It was established in 2003 by Shri Rajendra V. Shah, who is the non-executive chairman of the company. Their vision is to become a respected world class corporation and a leader in Indian steel business driving quality, productivity, profitability and customer satisfaction. Company's offerings include direct reduced iron, iron ore pellets, finished steel products and power, and has a credit rating of BB+ with a stable outlook from CARE Ratings. T...Read More
SAL Steel Limited is a steel, ferro alloys and power producer and exporter based in Gujarat, India. It was established in 2003 by Shri Rajendra V. Shah, who is the non-executive chairman of the company. Their vision is to become a respected world class corporation and a leader in Indian steel business driving quality, productivity, profitability and customer satisfaction. Company's offerings include direct reduced iron, iron ore pellets, finished steel products and power, and has a credit rating of BB+ with a stable outlook from CARE Ratings. The company has a double advantage of having proximity to one of the busiest commercial ports and also to the customers of its finished products. It has secured long-term tie-ups for its various raw materials by renowned suppliers, which has led to achieve consistent high standard of quality in its finished products. ...Read Less
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Market Cap ₹612 Cr.
Stock P/E -95.3
P/B 4.2
Current Price ₹42.3
Book Value ₹ 10.2
Face Value 10
52W High ₹50
Dividend Yield 0%
52W Low ₹ 14.6
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 157 | 130 | 139 | 111 | 124 | 194 | 117 | 128 | 66 | 2 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 157 | 130 | 139 | 111 | 124 | 194 | 117 | 128 | 66 | 2 |
| Total Expenditure | 151 | 127 | 130 | 105 | 118 | 182 | 117 | 133 | 53 | 2 |
| Operating Profit | 6 | 2 | 9 | 6 | 6 | 12 | -0 | -5 | 13 | -0 |
| Interest | 3 | 3 | 3 | 3 | 3 | 5 | 5 | 5 | 5 | 6 |
| Depreciation | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | -4 | 0 | 0 | 0 | 16 |
| Profit Before Tax | 0 | -3 | 4 | 0 | 0 | 0 | -8 | -13 | 5 | 8 |
| Provision for Tax | 0 | -1 | 1 | 0 | 0 | 1 | -2 | -3 | 1 | 1 |
| Profit After Tax | 0 | -2 | 3 | 0 | 0 | -1 | -6 | -10 | 4 | 7 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | -2 | 3 | 0 | 0 | -1 | -6 | -10 | 4 | 7 |
| Adjusted Earnings Per Share | 0 | -0.3 | 0.3 | 0 | 0 | -0.1 | -0.7 | -1.1 | 0.4 | 0.6 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 365 | 338 | 361 | 446 | 574 | 408 | 301 | 505 | 496 | 577 | 544 | 313 |
| Other Income | 1 | 1 | 2 | 3 | 1 | 44 | 22 | 29 | 14 | 2 | 1 | 0 |
| Total Income | 366 | 338 | 363 | 449 | 576 | 452 | 323 | 535 | 510 | 578 | 545 | 313 |
| Total Expenditure | 339 | 314 | 351 | 440 | 565 | 426 | 301 | 509 | 487 | 555 | 521 | 305 |
| Operating Profit | 27 | 24 | 12 | 9 | 11 | 26 | 22 | 26 | 23 | 23 | 24 | 8 |
| Interest | 30 | 12 | 1 | 1 | 2 | 2 | 0 | 0 | 8 | 13 | 17 | 21 |
| Depreciation | 9 | 8 | 8 | 8 | 8 | 8 | 9 | 9 | 10 | 10 | 11 | 12 |
| Exceptional Income / Expenses | -47 | -32 | 0 | 64 | -20 | 0 | 0 | 0 | 0 | 0 | -4 | 16 |
| Profit Before Tax | -59 | -29 | 4 | 64 | -19 | 17 | 12 | 16 | 6 | 1 | -7 | -8 |
| Provision for Tax | 16 | 0 | 3 | 22 | 3 | 1 | 1 | 5 | 2 | 0 | -1 | -3 |
| Profit After Tax | -76 | -29 | 1 | 42 | -22 | 16 | 12 | 12 | 4 | 0 | -6 | -5 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -76 | -29 | 1 | 42 | -22 | 16 | 12 | 12 | 4 | 0 | -6 | -5 |
| Adjusted Earnings Per Share | -8.9 | -3.4 | 0.1 | 5 | -2.5 | 1.9 | 1.4 | 1.4 | 0.4 | 0.1 | -0.8 | -0.8 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -6% | 3% | 6% | 4% |
| Operating Profit CAGR | 4% | -3% | -2% | -1% |
| PAT CAGR | 0% | NAN% | NAN% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 128% | 38% | 63% | 31% |
| ROE Average | -17% | -2% | 17% | -13% |
| ROCE Average | 5% | 7% | 8% | 4% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | -6 | -35 | -39 | 20 | -1 | 15 | 26 | 38 | 42 | 42 | 39 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 15 | 4 | 169 | 167 | 160 | 146 | 124 | 0 | 125 | 125 | 125 |
| Other Non-Current Liabilities | 8 | 1 | -1 | 23 | 22 | 23 | 22 | 22 | 21 | 21 | 19 |
| Total Current Liabilities | 270 | 280 | 160 | 72 | 102 | 130 | 123 | 231 | 90 | 96 | 156 |
| Total Liabilities | 287 | 250 | 290 | 282 | 283 | 314 | 295 | 291 | 277 | 284 | 338 |
| Fixed Assets | 147 | 140 | 133 | 128 | 126 | 118 | 155 | 146 | 136 | 143 | 151 |
| Other Non-Current Assets | 83 | 34 | 38 | 37 | 18 | 54 | 9 | 10 | 6 | 5 | 4 |
| Total Current Assets | 57 | 76 | 119 | 117 | 139 | 142 | 131 | 134 | 134 | 136 | 184 |
| Total Assets | 287 | 250 | 290 | 282 | 283 | 314 | 295 | 291 | 277 | 284 | 338 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 1 | 1 | 1 | 1 | 2 | 0 | 1 | 1 | 2 | 1 | 1 |
| Cash Flow from Operating Activities | 22 | 2 | -6 | 7 | -4 | 54 | 23 | 22 | 8 | 26 | -21 |
| Cash Flow from Investing Activities | 0 | -1 | -1 | -3 | 8 | -35 | -1 | 0 | -2 | -13 | -18 |
| Cash Flow from Financing Activities | -22 | -1 | 7 | -3 | -6 | -18 | -22 | -22 | -7 | -13 | 39 |
| Net Cash Inflow / Outflow | 0 | -0 | 0 | 1 | -2 | 0 | 1 | 0 | -1 | 0 | -0 |
| Closing Cash & Cash Equivalent | 1 | 1 | 1 | 2 | 0 | 1 | 1 | 2 | 1 | 1 | 1 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -8.93 | -3.39 | 0.1 | 4.99 | -2.54 | 1.87 | 1.36 | 1.36 | 0.42 | 0.06 | -0.76 |
| CEPS(Rs) | -7.9 | -2.39 | 1 | 5.9 | -1.62 | 2.75 | 2.42 | 2.44 | 1.54 | 1.19 | 0.49 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | -0.74 | -4.13 | -4.56 | 2.39 | -0.15 | 1.71 | 3.08 | 4.45 | 4.89 | 4.95 | 4.2 |
| Core EBITDA Margin(%) | 6.42 | 6.19 | 2.41 | 1.43 | 1.62 | -4.46 | -0.1 | -0.73 | 1.7 | 3.67 | 4.23 |
| EBIT Margin(%) | -7.26 | -4.36 | 1.08 | 14.6 | -2.98 | 4.56 | 4.21 | 3.25 | 2.68 | 2.3 | 1.7 |
| Pre Tax Margin(%) | -14.62 | -7.67 | 0.9 | 14.34 | -3.25 | 4.18 | 4.13 | 3.21 | 1.11 | 0.11 | -1.33 |
| PAT Margin (%) | -18.67 | -7.67 | 0.22 | 9.5 | -3.76 | 3.89 | 3.84 | 2.28 | 0.71 | 0.08 | -1.17 |
| Cash Profit Margin (%) | -16.51 | -5.41 | 2.15 | 11.24 | -2.4 | 5.74 | 6.84 | 4.1 | 2.62 | 1.73 | 0.75 |
| ROA(%) | -22.19 | -10.72 | 0.32 | 14.83 | -7.65 | 5.32 | 3.79 | 3.94 | 1.25 | 0.17 | -2.06 |
| ROE(%) | -238.03 | 0 | 0 | 0 | -227.12 | 238.73 | 56.75 | 36.07 | 8.94 | 1.12 | -16.53 |
| ROCE(%) | -16.32 | -19.7 | 4.66 | 39.62 | -9.42 | 10.81 | 7.29 | 9.83 | 8.12 | 8.02 | 4.89 |
| Receivable days | 27.42 | 25.95 | 41.68 | 34.77 | 40 | 94.35 | 124.67 | 50.85 | 45.69 | 42.63 | 44.54 |
| Inventory Days | 31.56 | 29.61 | 41.1 | 55.74 | 34.23 | 23.03 | 31.5 | 29.2 | 39.29 | 33.87 | 49.65 |
| Payable days | 33.25 | 39.47 | 39.81 | 31.1 | 33.24 | 64.73 | 113.73 | 53.62 | 37.29 | 27.9 | 24.22 |
| PER(x) | 0 | 0 | 49.13 | 1.45 | 0 | 0.92 | 2.27 | 7.33 | 32.68 | 374.5 | 0 |
| Price/Book(x) | -2.35 | -0.7 | -1.11 | 3.02 | -33.56 | 1 | 1 | 2.24 | 2.79 | 4.19 | 4.15 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.37 | 0.33 | 0.59 | 0.52 | 0.37 | 0.43 | 0.57 | 0.41 | 0.48 | 0.52 | 0.6 |
| EV/Core EBITDA(x) | 5.04 | 4.61 | 17.93 | 25.73 | 19.87 | 6.69 | 7.89 | 8.09 | 10.49 | 13.04 | 13.5 |
| Net Sales Growth(%) | 11.44 | -7.6 | 6.81 | 23.7 | 28.76 | -28.99 | -26.22 | 67.92 | -1.89 | 16.32 | -5.64 |
| EBIT Growth(%) | -79.41 | 44.48 | 126.29 | 1413.12 | -126.33 | 208.37 | -31.87 | 29.76 | -18.78 | 0.33 | -30.05 |
| PAT Growth(%) | -114.06 | 62.07 | 103.05 | 4734.14 | -150.95 | 173.48 | -27.2 | -0.1 | -69.28 | -86.76 | -1468.06 |
| EPS Growth(%) | -114.06 | 62.07 | 103.05 | 4734.16 | -150.95 | 173.48 | -27.2 | -0.1 | -69.27 | -86.75 | -1467.27 |
| Debt/Equity(x) | -19.17 | -2.46 | -4.45 | 8.62 | -135.05 | 11.03 | 5.58 | 3.28 | 3.01 | 2.97 | 4.97 |
| Current Ratio(x) | 0.21 | 0.27 | 0.74 | 1.63 | 1.36 | 1.09 | 1.06 | 0.58 | 1.5 | 1.42 | 1.18 |
| Quick Ratio(x) | 0.09 | 0.17 | 0.36 | 0.57 | 1.06 | 0.97 | 0.8 | 0.4 | 0.9 | 0.92 | 0.59 |
| Interest Cover(x) | -0.99 | -1.32 | 5.89 | 56.28 | -11.41 | 12.27 | 53.45 | 87.46 | 1.71 | 1.05 | 0.56 |
| Total Debt/Mcap(x) | 8.16 | 3.51 | 4 | 2.85 | 4.02 | 10.99 | 5.56 | 1.47 | 1.08 | 0.71 | 1.2 |
| # | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 50.56 | 50.56 | 50.56 | 50.56 | 50.56 | 50.56 | 50.56 | 50.56 | 50.56 | 61.47 |
| FII | 0 | 0 | 0 | 0 | 0.07 | 0.05 | 0 | 0.15 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 49.44 | 49.44 | 49.44 | 49.44 | 49.37 | 49.39 | 49.44 | 49.29 | 49.44 | 38.53 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 6.7 |
| FII | 0 | 0 | 0 | 0 | 0.01 | 0 | 0 | 0.01 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 4.2 | 4.2 | 4.2 | 4.2 | 4.19 | 4.2 | 4.2 | 4.19 | 4.2 | 4.2 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 8.5 | 10.9 |
* The pros and cons are machine generated.
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