Steel Authority of India (SAIL) Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for SAIL, BSE:500113 Steel Authority of India (SAIL) Ltd.

Steel Authority of India (SAIL) Ltd.

12 Jun 2021

137.30

1.34%

Biggest beneficiary of improved pricing

Buy: Steel Authority of India (...

Target

Motilal Oswal

With steel prices at a record high, SAIL is poised to post its best ever EBITDA/t of ~INR20,000 in 1QFY22. We upgrade our FY22E/FY23E EBITDA estimate by 71%/33% to factor in higher steel prices, and estimate a further INR102b (INR25/share) fall in net debt to INR265b (1x EBITDA) in FY22E. We expect dividend payout to be strong at INR10/share in FY22E (7.5% yield), based on an expected 25% payout ratio. Reiterate Buy....

Number of FII/FPI investors increased from 233 to 288 in Jun 2025 qtr.

Steel Authority of India (SAIL) Ltd.

11 Jun 2021

137.30

1.34%

Steel Authority of India: Q4FY21 Result Review

Buy: Steel Authority of India (...

Recommendation Target

IDBI Capital

SAIL's Q4FY21 result was slightly ahead of our expectations; EBITDA was 4% higher than our forecast. Its EBITDA/tonne jumped 2x YoY to Rs13,984 as blended realization increased 22.5% YoY to Rs52,923/tonne. EBITDA increased 144% YoY to Rs61.5 bn led by higher realizations and volumes. Interest cost fell 41% YoY to Rs5.4 bn. Its net debt...

Number of FII/FPI investors increased from 233 to 288 in Jun 2025 qtr.

Steel Authority of India (SAIL) Ltd.

23 Mar 2021, 12:00AM

137.30

1.34%

Best play on higher steel prices

Buy: Steel Authority of India (...

Target

Motilal Oswal

We see Steel Authority of India (SAIL) as the best play on higher steel prices as it: 1) is backward integrated with captive iron ore, 2) has a higher operating leverage due to high conversion cost, and 3) has a higher financial leverage. With limited capex, higher pricing should drive significant deleveraging and boost equity value. We estimate net debt to decline by INR232b (INR56/sh, 76% of CMP) over FY20-23E to INR305b. We also expect higher dividend payouts going forward (implying ~5% yield), supported by strong FCF of INR19/sh (25% yield). We are raising our FY22E/FY23E EBITDA estimate by 34%/37% and TP by 28% on expectation of higher realization and volumes. The...

Number of FII/FPI investors increased from 233 to 288 in Jun 2025 qtr.

Steel Authority of India (SAIL) Ltd.

17 Mar 2021

137.30

1.34%

SAIL

Buy: Steel Authority of India (...

ICICI Securities Limited

Number of FII/FPI investors increased from 233 to 288 in Jun 2025 qtr.

Steel Authority of India (SAIL) Ltd.

31 Jan 2021

137.30

1.34%

Biggest beneficiary of improved pricing

Buy: Steel Authority of India (...

Recommendation Target

Motilal Oswal

SAIL's result highlights strong gains from higher steel prices in the business model 3QFY21 EBITDA was up 147% YoY to INR50.8b, the highest ever. Net debt also fell sharply by 12% QoQ to INR443.0b. Spot steel prices are ~INR7,000/t, above the 3QFY21 average, which should drive 24% QoQ growth in EBITDA in 4QFY21, even after factoring in wage...

Number of FII/FPI investors increased from 233 to 288 in Jun 2025 qtr.

Steel Authority of India (SAIL) Ltd.

31 Jan 2021

137.30

1.34%

Steel Authority of India: Q3FY21 Result Review

Hold: Steel Authority of India (...

Recommendation Target

IDBI Capital

SAIL reported remarkable turnaround in its profitability for Q3FY21, beating our and street profitability forecasts. Its EBITDA/tonne jumped 4x YoY to Rs12,235 as realization increased 11% YoY to Rs44,737/tonne. Its EBITDA increased nearly 4x YoY to Rs51 bn led by higher realizations and lower coking coal costs. Interest cost decreased by 21% YoY to Rs6.7 bn. Net profit was lower than our forecast by 37% at Rs13 bn due to higher than expected tax rate at 65%. Its net debt fell to Rs440 bn as of December...

Number of FII/FPI investors increased from 233 to 288 in Jun 2025 qtr.

Steel Authority of India (SAIL) Ltd.

17 Nov 2020

137.30

1.34%

Pick Of The Week - Steel Authority Of India Ltd

Buy: Steel Authority of India (...

Edelweiss

SAIL is a holding company. The company manufactures flat products such as hot rolled (HR) coils, HR plates, cold rolled (CR) coils, pipes so on.

Steel Authority of India (SAIL) Ltd. is trading above all available SMAs

Steel Authority of India (SAIL) Ltd.

16 Sep 2020

137.30

1.34%

EBITDA seen to be improving, but leverage to remain high

Neutral: Steel Authority of India (...

Target

Motilal Oswal

SAILs 1QFY21 result was weak, as expected, with EBITDA loss of ~INR4.0b posted due to weak domestic demand and prices. SAIL guided for improvement in longs steel prices, led by demand In 2QFY21, raw material cost is likely to benefit from decline in coking coal prices. SAILs gross debt stood at INR544b at 1QFY21-end; however, it declined to INR498b at Aug-end owing to improved sales and liquidation of inventory. With improved pricing, lower coking coal costs, and better operating leverage, we expect SAIL to record EBITDA/t in excess of INR6,000/t in 2QFY21. As a result, SAILs finished steel inventory, which stood at 1.65mt in Jun20, declined to 1.23mt at Aug-end. In 1QFY21, SAIL sold 2.2mt of steel, of which exports stood at 0.5mt. SAIL guided for improvement in longs steel prices, led by demand improvement INR10,800/t in Aug20.

Steel Authority of India (SAIL) Ltd. is trading above all available SMAs

Steel Authority of India (SAIL) Ltd.

16 Sep 2020

137.30

1.34%

Steel Authority of India: Q1FY21 Result Review

Sell: Steel Authority of India (...

IDBI Capital

SAIL's Q1FY21 net sales was in-line with street estimate while its net loss was lower than street forecast. Its net sales fell 39% YoY to Rs91 bn. Although its operations resumed in second half of the quarter with limited workforce and disrupted supply chain, the imposed restrictions adversely impacted its sales volume and realization in Q1FY21. Volumes declined 32% YoY to 2.2 mn tonnes and realization fell 10% YoY to Rs41,216/tonne. SAIL's EBITDA loss stood at Rs4 bn due to sharp fall in net sales. SAIL reported a net loss of Rs13 bn in Q1FY21. We broadly maintain our FY21/FY22 estimates. We continue to value the stock at an...

Steel Authority of I.. has an average target of 125.83 from 6 brokers.

Steel Authority of India (SAIL) Ltd.

17 Feb 2020

137.30

1.34%

Weak realization impacts profitability

Neutral: Steel Authority of India (...

Target

Motilal Oswal

SAILs third quarter result reflects the challenges faced by industry, with EBITDA/ton down 69% YoY at INR2,439 due to a sharp decline in steel prices. We expect sales volume CAGR of 6% over FY20-22 as demand improves and capacity ramps up. Operating leverage benefits from higher volumes and better steel prices are likely to lead to improved margins. Coking coal cost is not expected to decline in 4QFY20 as price has moved up to USD150/t currently; there is a two-month lag in realization of spot prices at Based on FY19 iron ore production of 28 MMT, SAIL can sell up to 7 MMT (25% of 28 MMT) iron ore in the merchant market in FY20. which is one of SAILs largest customers, has had budgetary constraints, resulting in higher receivables and slower-than-expected deleveraging; dues from IR are at INR37b v/s normal level of INR8-10b.

Steel Authority of I.. has an average target of 125.83 from 6 brokers.

Is Steel Authority of India (SAIL) Ltd. worth buying?

1839 Votes:

Buy 78.36%

Sell 10.49%

Hold 11.15%

RESEARCH REPORTS

Hold SEE REPORTS >

pdf

Hold SEE REPORTS >

pdf