Financials Steel Authority of India Limited Bombay S.E.

Equities

SAIL

INE114A01011

Iron & Steel

Market Closed - Bombay S.E. 06:29:03 2024-05-06 EDT 5-day change 1st Jan Change
163 INR -2.95% Intraday chart for Steel Authority of India Limited -3.29% +31.84%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 222,016 95,209 325,485 407,063 341,594 672,863 - -
Enterprise Value (EV) 1 634,160 603,584 674,442 534,441 594,233 945,063 916,238 903,226
P/E ratio 10.2 x 4.71 x 8.45 x 3.39 x 17.9 x 26.3 x 18.1 x 15 x
Yield 0.93% - 2.28% 8.88% 1.81% 1.3% 1.56% 1.7%
Capitalization / Revenue 0.33 x 0.15 x 0.47 x 0.39 x 0.33 x 0.65 x 0.63 x 0.61 x
EV / Revenue 0.95 x 0.98 x 0.98 x 0.52 x 0.57 x 0.91 x 0.85 x 0.82 x
EV / EBITDA 6.51 x 5.92 x 5.3 x 2.51 x 7.41 x 9.87 x 7.69 x 7.15 x
EV / FCF 19.1 x -11.3 x 3.45 x 1.97 x -6.11 x 14.9 x 26.1 x 17.8 x
FCF Yield 5.24% -8.82% 29% 50.7% -16.4% 6.72% 3.84% 5.61%
Price to Book 0.58 x 0.24 x 0.75 x 0.78 x 0.66 x 1.22 x 1.16 x 1.09 x
Nbr of stocks (in thousands) 4,130,525 4,130,525 4,130,525 4,130,525 4,130,525 4,130,525 - -
Reference price 2 53.75 23.05 78.80 98.55 82.70 162.9 162.9 162.9
Announcement Date 19-05-30 20-07-10 21-06-10 22-05-23 23-05-25 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 669,673 616,606 691,100 1,034,733 1,044,474 1,040,279 1,072,256 1,107,138
EBITDA 1 97,343 101,990 127,280 213,222 80,241 95,745 119,098 126,414
EBIT 1 63,496 64,440 86,260 170,480 30,616 40,864 57,368 64,536
Operating Margin 9.48% 10.45% 12.48% 16.48% 2.93% 3.93% 5.35% 5.83%
Earnings before Tax (EBT) 1 33,379 31,707 68,790 160,387 26,369 32,552 50,372 57,654
Net income 1 21,788 20,215 38,500 120,150 19,031 25,528 38,160 44,840
Net margin 3.25% 3.28% 5.57% 11.61% 1.82% 2.45% 3.56% 4.05%
EPS 2 5.270 4.890 9.320 29.09 4.610 6.188 9.010 10.85
Free Cash Flow 1 33,225 -53,229 195,686 271,114 -97,210 63,519 35,148 50,702
FCF margin 4.96% -8.63% 28.32% 26.2% -9.31% 6.11% 3.28% 4.58%
FCF Conversion (EBITDA) 34.13% - 153.74% 127.15% - 66.34% 29.51% 40.11%
FCF Conversion (Net income) 152.49% - 508.27% 225.65% - 248.82% 92.11% 113.07%
Dividend per Share 2 0.5000 - 1.800 8.750 1.500 2.117 2.548 2.773
Announcement Date 19-05-30 20-07-10 21-06-10 22-05-23 23-05-25 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 198,329 232,860 206,424 268,269 - 252,459 307,581 240,286 262,463 250,419 291,306 243,576 264,469 266,841 276,821
EBITDA 1 50,775 61,529 65,636 70,169 135,804 34,104 43,313 23,008 7,326 20,768 29,139 16,471 25,539 28,286 18,445
EBIT 1 - 49,952 55,375 59,613 - 23,617 31,875 11,069 -4,506 8,558 - 3,723 14,807 15,116 7,441
Operating Margin - 21.45% 26.83% 22.22% - 9.35% 10.36% 4.61% -1.72% 3.42% - 1.53% 5.6% 5.66% 2.69%
Earnings before Tax (EBT) 1 36,449 46,085 51,449 57,529 - 19,310 32,100 10,383 -5,156 6,347 14,795 2,022 12,660 7,545 2,966
Net income 1 12,832 34,438 38,500 43,036 - 14,431 24,183 7,763 -3,858 4,635 10,490 1,498 8,198 5,097 2,051
Net margin 6.47% 14.79% 18.65% 16.04% - 5.72% 7.86% 3.23% -1.47% 1.85% 3.6% 0.62% 3.1% 1.91% 0.74%
EPS 2 3.110 - 9.320 10.42 - 3.490 5.850 1.880 -0.9300 1.120 2.540 0.3600 1.550 1.320 0.7000
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 21-01-29 21-06-10 21-08-06 21-10-29 21-10-29 22-02-09 22-05-23 22-08-10 22-11-10 23-02-13 23-05-25 23-08-10 - - -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 412,145 508,376 348,957 127,378 252,638 272,200 243,375 230,363
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.234 x 4.985 x 2.742 x 0.5974 x 3.149 x 2.843 x 2.043 x 1.822 x
Free Cash Flow 1 33,225 -53,229 195,686 271,114 -97,210 63,519 35,148 50,702
ROE (net income / shareholders' equity) 5.9% 5.19% 9.25% 25.2% 3.65% 4.55% 6.73% 7.5%
ROA (Net income/ Total Assets) 1.89% 1.67% 3.18% 10.3% 1.55% 3.02% 4.3% 4.55%
Assets 1 1,153,138 1,207,675 1,211,289 1,167,370 1,227,312 844,172 887,226 986,569
Book Value Per Share 2 92.40 96.30 105.0 126.0 126.0 133.0 140.0 149.0
Cash Flow per Share 2 17.70 -1.570 56.60 - -13.10 29.70 22.70 28.10
Capex 1 39,791 46,723 38,273 38,522 43,145 57,045 63,291 75,750
Capex / Sales 5.94% 7.58% 5.54% 3.72% 4.13% 5.48% 5.9% 6.84%
Announcement Date 19-05-30 20-07-10 21-06-10 22-05-23 23-05-25 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
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