Steel Authority of India Limited (NSE:SAIL) released its Q1 FY27 investor presentation on 27 July 2026, disclosing operational and financial performance metrics for the quarter ended 30 June 2026. The company reported profit after tax of Rs 1,636 crore and EBITDA of Rs 4,356 crore, with crude steel production of 4.757 million tonnes and domestic sales of 4.106 million tonnes. Key financial ratios included earnings per share of Rs 3.96 and an EBITDA margin of 16.7 percent.
Key Highlights
- Profit after tax in Q1 FY27 stood at Rs 1,636 crore with EBITDA of Rs 4,356 crore and EBITDA margin of 16.7 percent, according to the presentation filed by SAIL.
- Crude steel production in Q1 FY27 was 4.757 million tonnes with saleable steel output of 4.516 million tonnes, as disclosed in the results presentation.
- Domestic sales reached 4.106 million tonnes during Q1 FY27, while export sales totalled 0.057 million tonnes, bringing total sales to 4.163 million tonnes.
- The company's net worth increased to Rs 59,720 crore as of Q1 FY27, up from Rs 58,195 crore in the preceding quarter.
- Debt on an IndAS basis was reported at Rs 31,970 crore with a debt-to-equity ratio of 0.54 times and interest coverage ratio of 4.80 times.
- Mining operations produced 10.410 million tonnes of iron ore, 0.242 million tonnes of limestone, and 0.140 million tonnes of dolomite during the quarter.
- Earnings per share for Q1 FY27 were recorded at Rs 3.96, with profit before tax of Rs 2,159 crore after accounting for exceptional items of Rs 144 crore.
About the Company
Steel Authority of India Limited operates as an integrated steel manufacturer and is listed on the National Stock Exchange under the ticker SAIL. The company manufactures flat and long steel products, special steels, and railway products across five major integrated steel plants: Bhilai Steel Plant, Bokaro Steel Limited, Durgapur Steel Plant, Rourkela Steel Plant, and Salem Steel Plant, supplemented by the Visvesvaraya Iron and Steel Plant and the Alloy Steels Plant. SAIL operates its own mining operations for iron ore, limestone, and dolomite. The company's product portfolio includes hot-rolled and cold-rolled coils and sheets, galvanized products, plates, bars, rods, structural products, and semis. During FY26, the company produced 19.2 million tonnes of crude steel and achieved saleable steel output of 19.4 million tonnes, with domestic sales accounting for the majority of volumes. SAIL is headquartered in New Delhi and is a Government of India undertaking under the Ministry of Steel.
Announcement in Detail
The investor presentation discloses SAIL's operational and financial performance for Q1 FY27. Crude steel production during the quarter totalled 4.757 million tonnes, while hot metal output was 5.051 million tonnes. Saleable steel production reached 4.516 million tonnes. In terms of sales performance, domestic sales volumes were 4.106 million tonnes and exports totalled 0.057 million tonnes. The product mix for the five integrated steel plants during the quarter comprised flats at 52.7 percent, longs at 34.8 percent, and semis at 12.5 percent by saleable steel output.
Financial results for Q1 FY27 showed total income of Rs 26,449 crore with sales turnover of Rs 26,010 crore and revenue from operations of Rs 26,246 crore. EBITDA was Rs 4,356 crore, representing a margin of 16.7 percent. After deducting depreciation of Rs 1,560 crore and finance costs of Rs 493 crore, profit before tax was calculated at Rs 2,303 crore before exceptional items. Exceptional items of Rs 144 crore were deducted, resulting in profit before tax after exceptional items of Rs 2,159 crore. Tax expense was Rs 523 crore, yielding profit after tax of Rs 1,636 crore. Earnings per share stood at Rs 3.96.
Balance sheet metrics as of 30 June 2026 reflected net worth of Rs 59,720 crore, an increase from Rs 58,195 crore recorded at 31 March 2026. Debt on an IndAS basis was Rs 31,970 crore with a debt-to-equity ratio of 0.54 times. Debt service coverage ratio was disclosed at 1.66 times and interest coverage ratio at 4.80 times. Mining operations during the quarter produced 10.410 million tonnes of iron ore, 0.242 million tonnes of limestone, and 0.140 million tonnes of dolomite across the company's mining subsidiaries and leased mining blocks.
Impact on Investors
The presentation demonstrates SAIL's operational scale and capital structure position as of the quarter end. Investors will note that crude steel production of 4.757 million tonnes in Q1 FY27 reflects the utilisation of the company's five integrated steel plant network. The reported EBITDA margin of 16.7 percent and EBITDA per tonne of Rs 10,464 indicates the company's conversion efficiency during the quarter. The profit after tax of Rs 1,636 crore and earnings per share of Rs 3.96 represent the earnings attributable to equity shareholders. The net worth position of Rs 59,720 crore establishes the company's equity base as of quarter end.
The disclosed debt-to-equity ratio of 0.54 times, interest coverage ratio of 4.80 times, and debt service coverage ratio of 1.66 times provide insights into the company's leverage profile and debt servicing capacity. The debt on an IndAS basis of Rs 31,970 crore reflects the company's borrowing position after accounting for finance leases and other financial obligations under IndAS 16. The increase in net worth from Rs 58,195 crore in Q4 FY26 to Rs 59,720 crore in Q1 FY27 reflects the retention of earnings and absence of significant capital distributions during the quarter. Investors should review the official filing for complete details on segment performance, working capital changes, and cash flow metrics not summarized in the presentation snapshot provided.
Sector / Market Context
Global crude steel production in calendar year 2025 reached 1,850 million tonnes, according to the World Steel Association data cited in the presentation, with China representing approximately 53.7 percent of global production during January to May 2026. Among major steel-producing countries, India ranked seventh with a 7.7 percent share of global production during the January-May 2026 period, according to the presentation's sectoral analysis. Indian crude steel production in Q1 FY27 stood at 41.9 million tonnes with finished steel consumption at 41.6 million tonnes, as reported by the Joint Plant Committee and cited in the presentation.
The Indian economic backdrop shows first advance estimates for FY26 GDP growth at 7.4 percent according to data from the Ministry of Statistics and Programme Implementation cited in the presentation. International Monetary Fund projections referenced in the presentation estimate Indian economic growth at 6.4 percent for calendar year 2026. The presentation notes that India's Index of Industrial Production showed improvement in five of six categories during the first two months of FY27, driven by infrastructure goods and capital goods segments. International steel prices showed volatility during the presentation period, with hot-rolled coil prices in the range of USD 420-540 per tonne across global markets, while iron ore prices traded in the USD 80-125 per tonne range depending on grade and origin, as depicted in the price trend charts included in the presentation.