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Financial

SAIL Q3 FY26 Results: Net Profit Surges 60% YoY to ₹1,554 Crore

PSU Connect
Steel Authority of India Ltd (SAIL) reports 60% jump in 9M FY26 standalone PAT to ₹1,554 Cr. Sales volume grows 16.3%. Company reduces debt by nearly ₹5,000 Cr. Read the full Q3 results analysis.
SAIL Q3 FY26 Results: Net Profit Surges 60% YoY to ₹1,554 Crore

NEW DELHI, INDIA – Steel Authority of India Limited (SAIL), the Maharatna public sector steel giant, announced its unaudited financial results for the quarter and nine months ended December 31, 2025.

 

Strong Operational & Financial Performance (9M FY26 vs. 9M FY25)

The company reported a significant improvement in profitability and operational metrics for the first nine months of the financial year.

  • Standalone Profit After Tax (PAT): ₹1,553.97 Crore, marking a substantial 60% increase from ₹970.00 Crore in 9M FY25.

  • Standalone Revenue from Operations: ₹79,996.79 Crore, up approximately 10% from ₹73,162.11 Crore.

  • Sales Volume: Grew by 16.3% to 14.61 Million Tonnes (12.56 MT in 9M FY25).

  • Crude Steel Production: Increased by 2% to 14.35 Million Tonnes.

 

 

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Quarterly Performance (Q3 FY26 Standalone)

For the third quarter:

  • PAT: ₹441.70 Crore (Q3 FY25: ₹125.80 Crore).

  • Revenue: ₹27,371.39 Crore.

  • Earnings Per Share (EPS): ₹1.07.

Key Financial Highlights & Debt Reduction

  • Debt Reduction: SAIL reduced its debt by close to ₹5,000 Crore during the 9M FY26 period.

  • Standalone Net Worth: Stood at ₹56,236.45 Crore as of December 31, 2025.

  • Debt-Equity Ratio: Remained healthy at 0.62.

Consolidated Results

The consolidated financial performance (including subsidiaries and joint ventures) also showed strength:

  • Consolidated PAT (9M FY26): ₹1,537.33 Crore (9M FY25: ₹1,120.82 Crore).

  • Consolidated Revenue (9M FY26): ₹79,997.35 Crore.

Auditors Raise Qualifications on Accounting Treatments

The review report from the joint statutory auditors (J N Gupta & Co. LLP, S P A R K & Associates, Vinod Singhal & Co. LLP, APT & Co. LLP) included qualifications on three key matters, stating that had these been accounted for as per the auditors' view, profits and equity would be lower:

  1. Entry Tax Provision: Disputed demand of ₹109.86 crore not provided for.

  2. DVC Refund Accounting: Treatment of a ₹344.75 crore refund from Damodar Valley Corporation, including interest income.

  3. Water Charges Provision: Disputed demand of ₹1,146.44 crore from Jharkhand Water Resources Department not provided for.

The management has treated these amounts as contingent liabilities, pending legal outcomes.

Segment-Wise Performance

Major plants like Bhilai, Rourkela, and IISCO were profitable, while Salem Steel Plant reported a loss for the quarter.

 

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Management Commentary

Shri Amarendu Prakash, Chairman & Managing Director (CMD), SAIL, stated, "We have delivered an improvement in profitability... driven by higher volumes, operating leverage and prudent financial management. The strong sales traction was supported by robust domestic demand and improved market penetration."
He attributed sustained profitability to volume growth, product mix optimization, and cost discipline despite input cost volatility.

About Steel Authority of India Limited (SAIL)

SAIL is India's largest steel-making company, with a significant domestic market share. It operates integrated steel plants across the country and is a Maharatna Central Public Sector Enterprise.