SAL Steels
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SAL Steel's board approved a postal ballot to seek shareholder approval for related party transactions with its holding company and associates. The ballot sought post-facto ratification of a Rs 228.67 crore short-term loan facility from Lawrence Merchants used between September 2025 and March 2026 and Rs 174.62 crore of purchases, sales and loans with Sree Metaliks used since April 2026. It also proposed one-year limits from November 2026 including purchases of up to Rs 300 crore, guarantees of up to Rs 500 crore and loans of up to Rs 200 crore from Sree Metaliks, loans of up to Rs 200 crore from Lawrence Merchants and trading limits with Elite Metaliks. Sree Metaliks held 57.51% of the company after the December 2025 takeover that ended the former Shah Alloys sales channel. The company recorded revenue of about Rs 208 crore in FY26, down from about Rs 544 crore a year earlier, and made ferro alloys and sponge iron with captive power consumed internally.
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SAL Steel's board approved a postal ballot to seek shareholder approval for related party transactions with its holding company and associates. The ballot sought post-facto ratification of a Rs 228.67 crore short-term loan facility from Lawrence Merchants used between September 2025 and March 2026 and Rs 174.62 crore of purchases, sales and loans with Sree Metaliks used since April 2026. It also proposed one-year limits from November 2026 including purchases of up to Rs 300 crore, guarantees of up to Rs 500 crore and loans of up to Rs 200 crore from Sree Metaliks, loans of up to Rs 200 crore from Lawrence Merchants and trading limits with Elite Metaliks. Sree Metaliks held 57.51% of the company after the December 2025 takeover that ended the former Shah Alloys sales channel. The company recorded revenue of about Rs 208 crore in FY26, down from about Rs 544 crore a year earlier, and made ferro alloys and sponge iron with captive power consumed internally.
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SAL Steel's board approved an additional Rs 75 crore term loan from Kotak Mahindra Bank alongside renewal of Rs 49 crore of working capital facilities, taking total facilities to Rs 124 crore under a sanction letter dated 29 September 2026. The funds would be used for part repayment of an inter-corporate deposit from AIA Engineering, secured by hypothecation of current and movable fixed assets and a mortgage over its Bharapar plant in Kutch, with personal guarantees from Mahesh Kumar Agarwal and Kaustubh Agarwal and a corporate guarantee from Sree Metaliks. Total debt stood at Rs 177.5 crore, including a Rs 125 crore inter-corporate deposit from AIA Engineering. Revenue was Rs 207.57 crore in FY26, down from Rs 544 crore in FY25, while the June quarter delivered revenue of Rs 87.37 crore and profit of Rs 3.09 crore.
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SAL Steel's board approved an additional Rs 75 crore term loan from Kotak Mahindra Bank alongside renewal of Rs 49 crore of working capital facilities, taking total facilities to Rs 124 crore under a sanction letter dated 29 September 2026. The funds would be used for part repayment of an inter-corporate deposit from AIA Engineering, secured by hypothecation of current and movable fixed assets and a mortgage over its Bharapar plant in Kutch, with personal guarantees from Mahesh Kumar Agarwal and Kaustubh Agarwal and a corporate guarantee from Sree Metaliks. Total debt stood at Rs 177.5 crore, including a Rs 125 crore inter-corporate deposit from AIA Engineering. Revenue was Rs 207.57 crore in FY26, down from Rs 544 crore in FY25, while the June quarter delivered revenue of Rs 87.37 crore and profit of Rs 3.09 crore.
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Vora Financial Services acquired 7,306,374 equity shares of SAL Steel in the open market on 31 July 2026, representing 5.05% of the company's voting capital. SAL Steel received the Regulation 29(1) notice on 10 August and sent it to the BSE and NSE. Sree Metaliks, the new promoter, held 57.51% of SAL Steel after converting warrants in February 2026. The company had revenue of ₹544 crore in FY25 and reported a net loss of ₹6.42 crore.
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Vora Financial Services acquired 7,306,374 equity shares of SAL Steel in the open market on 31 July 2026, representing 5.05% of the company's voting capital. SAL Steel received the Regulation 29(1) notice on 10 August and sent it to the BSE and NSE. Sree Metaliks, the new promoter, held 57.51% of SAL Steel after converting warrants in February 2026. The company had revenue of ₹544 crore in FY25 and reported a net loss of ₹6.42 crore.
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July 1 (Reuters) - SAL Steel Ltd SALS.NS:
SAL STEEL LTD - APPOINTMENT OF ANIL KUMAR SINGH AS CHIEF FINANCIAL OFFICER
Source text: ID:nnAZN4T5FC3
Further company coverage: SALS.NS
(([email protected];))
July 1 (Reuters) - SAL Steel Ltd SALS.NS:
SAL STEEL LTD - APPOINTMENT OF ANIL KUMAR SINGH AS CHIEF FINANCIAL OFFICER
Source text: ID:nnAZN4T5FC3
Further company coverage: SALS.NS
(([email protected];))
April 6 (Reuters) - SAL Steel Ltd SALS.NS:
BABULAL M SINGHAL RESIGNS AS CFO
Source text: ID:nBSE2BpqqJ
Further company coverage: SALS.NS
(([email protected];))
April 6 (Reuters) - SAL Steel Ltd SALS.NS:
BABULAL M SINGHAL RESIGNS AS CFO
Source text: ID:nBSE2BpqqJ
Further company coverage: SALS.NS
(([email protected];))
Aug 9 (Reuters) - SAL Steel Ltd SALS.NS:
SAL STEEL JUNE-QUARTER NET PROFIT 1.6 MILLION RUPEES
SAL STEEL LTD JUNE-QUARTER REVENUE FROM OPERATIONS 1.11 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: SALS.NS
(([email protected];))
Aug 9 (Reuters) - SAL Steel Ltd SALS.NS:
SAL STEEL JUNE-QUARTER NET PROFIT 1.6 MILLION RUPEES
SAL STEEL LTD JUNE-QUARTER REVENUE FROM OPERATIONS 1.11 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: SALS.NS
(([email protected];))
May 8 (Reuters) - SAL Steel Ltd SALS.NS:
TO CONSIDER PROPOSAL FOR RAISING OF FUNDS
Further company coverage: SALS.NS
(([email protected];))
May 8 (Reuters) - SAL Steel Ltd SALS.NS:
TO CONSIDER PROPOSAL FOR RAISING OF FUNDS
Further company coverage: SALS.NS
(([email protected];))
April 2 (Reuters) - SAL Steel Ltd SALS.NS:
RECEIVED TAX DEMAND NOTICE FOR 309.3 MILLION RUPEES
Source text for Eikon: ID:nBSE1jNf1b
Further company coverage: SALS.NS
(([email protected];))
April 2 (Reuters) - SAL Steel Ltd SALS.NS:
RECEIVED TAX DEMAND NOTICE FOR 309.3 MILLION RUPEES
Source text for Eikon: ID:nBSE1jNf1b
Further company coverage: SALS.NS
(([email protected];))
Aug 10 (Reuters) - SAL Steel Ltd SALS.NS:
INDIA'S SAL STEEL LTD JUNE-QUARTER NET PROFIT 1 MILLION RUPEES VERSUS PROFIT 1.4 MILLION RUPEES
SAL STEEL LTD JUNE-QUARTER REVENUE FROM OPERATIONS 1.53 BILLION RUPEES VERSUS 1.19 BILLION RUPEES
Source text for Eikon: ID:nBSEb06yrL
Further company coverage: SALS.NS
(([email protected];))
Aug 10 (Reuters) - SAL Steel Ltd SALS.NS:
INDIA'S SAL STEEL LTD JUNE-QUARTER NET PROFIT 1 MILLION RUPEES VERSUS PROFIT 1.4 MILLION RUPEES
SAL STEEL LTD JUNE-QUARTER REVENUE FROM OPERATIONS 1.53 BILLION RUPEES VERSUS 1.19 BILLION RUPEES
Source text for Eikon: ID:nBSEb06yrL
Further company coverage: SALS.NS
(([email protected];))
May 29 (Reuters) - SAL Steel Ltd SALS.NS:
INDIA'S SAL STEEL MARCH-QUARTER NET LOSS 1.2 MILLION RUPEES VERSUS PROFIT 49.5 MILLION RUPEES
SAL STEEL MARCH-QUARTER REVENUE FROM OPERATIONS 1.07 BILLION RUPEES VERSUS 1.85 BILLION RUPEES
Source text for Eikon: ID:nBSE1c1ZPW
Further company coverage: SALS.NS
(([email protected];;))
May 29 (Reuters) - SAL Steel Ltd SALS.NS:
INDIA'S SAL STEEL MARCH-QUARTER NET LOSS 1.2 MILLION RUPEES VERSUS PROFIT 49.5 MILLION RUPEES
SAL STEEL MARCH-QUARTER REVENUE FROM OPERATIONS 1.07 BILLION RUPEES VERSUS 1.85 BILLION RUPEES
Source text for Eikon: ID:nBSE1c1ZPW
Further company coverage: SALS.NS
(([email protected];;))
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Popular questions
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What does SAL Steels do?
SAL Steel Limited manufactures Sponge Iron, Ferro Alloys and power, selling products in domestic and international markets. With Captive power generation, it benefits from low power costs and sells surplus power.
Who are the competitors of SAL Steels?
SAL Steels major competitors are Steel Exchange India, Rajputana Stainless, BMW Ventures, Chaman Metallics, Suraj Products, VMS TMT, Vaswani Industries. Market Cap of SAL Steels is ₹1,426 Crs. While the median market cap of its peers are ₹285 Crs.
Is SAL Steels financially stable compared to its competitors?
SAL Steels seems to be less financially stable compared to its competitors. Altman Z score of SAL Steels is 2.52 and is ranked 6 out of its 8 competitors.
Does SAL Steels pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. SAL Steels latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%
How has SAL Steels allocated its funds?
Companies resources are allocated to majorly unproductive assets like Capital Work in Progress, Inventory
How strong is SAL Steels balance sheet?
Balance sheet of SAL Steels is moderately strong, But short term working capital might become an issue for this company.
Is the profitablity of SAL Steels improving?
Yes, profit is increasing. The profit of SAL Steels is ₹12.43 Crs for TTM, -₹0.35 Crs for Mar 2026 and -₹6.42 Crs for Mar 2025.
Is the debt of SAL Steels increasing or decreasing?
Yes, The net debt of SAL Steels is increasing. Latest net debt of SAL Steels is ₹348 Crs as of Mar-26. This is greater than Mar-25 when it was ₹177 Crs.
Is SAL Steels stock expensive?
Yes, SAL Steels is expensive. Latest PE of SAL Steels is 114, while 3 year average PE is 105. Also latest EV/EBITDA of SAL Steels is 52.85 while 3yr average is 24.77.
Has the share price of SAL Steels grown faster than its competition?
SAL Steels has given better returns compared to its competitors. SAL Steels has grown at ~82.59% over the last 3yrs while peers have grown at a median rate of 10.0%
Is the promoter bullish about SAL Steels?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in SAL Steels is 70.98% and last quarter promoter holding is 70.98%.
Are mutual funds buying/selling SAL Steels?
There is Insufficient data to gauge this.