Steel Authority of India Q2 FY27: PAT ₹1,636 Cr & Rev ₹11,200 Cr

Investor Takeaways

PAT surged 150% YoY to ₹1,636 crores in Q1 FY27

EBITDA grew 50%+ to ₹4,356 crores with margin expansion to 16.7%

Debt-equity ratio improved to 0.36 from previous levels

Coal cost reduction of INR1,000-2,000/tonne expected in Q2

Full-year volume guidance maintained despite production cuts

Overall Tone: Positive

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹11,200 Cr	N/A
Net Profit	₹1,636 Cr	+150%
EBITDA	₹4,356 Cr	+50%+
EPS	₹2.17	+150%
OPM	16.7%	Improved

What Changed

SAIL delivered a transformative quarter with PAT expanding 150% YoY to ₹1,636 crores, driven by robust EBITDA growth of 50%+ to ₹4,356 crores and margin improvement to 16.7%. The company strengthened its balance sheet, reducing debt-equity ratio to 0.36 while maintaining stable borrowings at ₹21,729 crores. Management highlighted coal cost deflation of INR1,000-2,000/tonne anticipated in Q2, supporting sustained profitability. Full-year volume guidance remains intact despite temporary production adjustments from capital repairs, indicating confidence in demand trajectory and operational resilience.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
SAIL	35.37	Not available	Not available	79,471.31
Adani Enterprises	34.61	11.54%	9.63%	3,50,878.2
JSW Steel	41.9	9.37%	10.23%	3,12,724.65
Tata Steel	29.46	10.06%	10.86%	2,70,692.8

SAIL trades at a premium to Tata Steel but at a discount to Adani Enterprises and JSW Steel on P/E, with leverage profile significantly stronger than peers.

Risks & Concerns

No specific risks identified in the filing

Coal cost trajectory remains critical to margin sustainability

Production cuts from capital repairs may impact near-term output

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY25	24,489.91	141.89	8.29
Q2FY25	24,675.2	897.15	11.8
Q1FY25	23,997.81	81.78	9.25
Q4FY24	27,958.52	1,125.68	12.46

The current filing reflects Q1 FY27 performance, showing significant improvement over the prior quarter's profitability patterns. The ₹1,636 crore PAT in Q1 FY27 substantially exceeds the ₹1,125.68 crore reported in Q4FY24, indicating a clear upward trend in earnings momentum.

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About Steel Authority of India Limited (SAIL)

Metals & Mining · Ferrous Metals · Listed on NSE

Market Cap: ₹79,471.31 Cr P/E: 35.4

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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