Steel Authority of India Ltd (SAIL) — share price & stock analysis

Market cap

₹69,504 Cr

P/E

18.1×

ROE

6.4%

Book value / share

₹146

Revenue (FY26)

₹1,10,811 Cr

Profit after tax (FY26)

₹3,373 Cr

Weinstein stage

Stage 2 (56 weeks)

Data as of

1 July 2026

6 of the 6 things we track are currently moving the right way — nearly everything is pulling in the same direction.

Where the levels actually stand: ROCE 8% — weak; debt moderate (0.53× equity); margins mid-band. Momentum says which way things are moving; these say where they are.

Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double.

An uptrend that has held for 56 weeks

Every stock cycles through the same four seasons — a flat base (stage 1), an advance (2), a top (3), a decline (4). Right now this one is in Stage 2: advancing, 56 weeks in, confirmed.stage

The price sits above its rising 200-day average (₹160 today) — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200

Beating NIFTY 500 for 33 weeks — relative strength is the market’s live opinion, and right now it is on this stock’s side.rs_mansfield

What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200

Out of the loss years — profitable again, still below its best

Over 12 years, sales went from ₹46,804 Cr to ₹1,10,811 Cr (about 7% a year), and profit from ₹2,652 Cr to ₹3,373 Cr.revenuenet_profit

The books show real losses in FY16 and FY17 and FY18 (worst: ₹−4,176 Cr). Everything about today’s cheap-looking numbers must be read against that history — the recovery is what you are buying.net_profit

Sales have gone quiet — growth has stalled

Mar 26 sales were ₹30,813 Cr, up 5% on the same quarter last year.revenue

That makes 6 quarters of growth in a row — this is a trend, not a blip.revenue

Margins are widening — 12% → 14% in a year

Of every ₹100 of sales, the company keeps ₹14.3 as operating profit (a year ago it kept ₹11.9).opm_pct

Zoom out and this is the page's quiet hero: annual operating margin bottomed at 7.7% in FY23 and has been rebuilt to 10.8% — that recovery, not sales alone, is what powers the profit growth elsewhere on this page.operating_profit

The gross margin moved the same way (50% → 51%), so this is about input costs and pricing power — the raw-material equation improved.gpm_pctopm_pct

Profit exploded 47% — mostly from keeping more of each sale

Mar 26 profit after tax was ₹1,835 Cr, up 47% year on year.net_profit

The profits are real — they turn into cash

Over the last 5 profitable years, the business reported ₹23,232 Cr of profit and collected ₹57,561 Cr of operating cash — about 248% conversion.operating_cash_flownet_profit

When cash tracks profit this closely, the earnings need no asterisk.

The cash cycle is tightening — money comes home faster

One rupee now takes about 105 days to go out the door as materials and come back as collected cash — down from 163 days the year before.cash_conversion_cycle

The biggest mover: inventory moving faster off the shelf (211 → 156 days).inventory_days

The asset base keeps compounding — this company builds

The productive asset base has gone from ₹28,175 Cr (FY14) to ₹75,989 Cr, with another ₹10,552 Cr of capacity under construction right now.fixed_assetscwip

The build is self-funded: the last 3 years' investing outflow (₹17,428 Cr) fits inside the operating cash the business generated (₹31,864 Cr).investing_cash_flowoperating_cash_flow

Debt is present but comfortable

For every ₹100 shareholders have put in (and left in), the company has borrowed ₹53.borrowings

Every ₹100 kept in the business earns just ₹8

Return on capital employed is 8.0% (a year ago: 7.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct

Big money is quietly accumulating

Promoters hold 65.0%, essentially unchanged. Foreign funds own 5.0%, domestic funds 18.4%.promoters_pctfiis_pctdiis_pct

Institutions buying while the story develops is the market’s quiet vote of confidence — they meet management, you don’t.

A turnaround that stuck — the question is what’s left to re-rate

The numbers are genuinely mixed, and the price is roughly fair to the delivery so far.

Best thing in the data: free cash flow rising (₹4,646 Cr → ₹11,140 Cr).operating_cash_flow

Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.

Straight answers from the data