Steel Authority of India Ltd
Steel Authority of India Ltd (SAIL)

Steel Authority of India Ltd (SAIL)

₹84.61.29%

Key Stats

₹84.1
Day's Price Range
₹86.45
₹78.85
52-Week Price Range
₹145.9
1 Month Return-17.68 %
3 Month Return-11.97 %
1 Year Return-35.06 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 1
2.67
EPS
Rank 1
₹32.04
BVPS
Rank 1
₹109.93
Dividend Yield
Rank 1
3.55%
ROE
Rank 2
9.25%
Price To Book Ratio
Rank 1
0.77
Debt To Asset
Rank 1
0.63

Company Information

Steel Authority of India Ltd SAIL is the leading steelmaking company in India. The company is a fully integrated iron and steel maker producing both basic and special steels for domestic construction engineering power railway automotive and defence industries and for sale in export markets. They are also among the seven Maharatnas of the countrys Central Public Sector Enterprises.The company manufactures and sells a broad range of steel products including hot and cold rolled sheets and coils galvanised sheets electrical sheets structurals railway products plates bars and rods stainless steel and other alloy steels. They produce iron and steel at five integrated plants and three special steel plants located principally in the eastern and central regions of India and situated close to domestic sources of raw materials including the companys iron ore limestone and dolomite mines. The companys wide range of long and flat steel products are much in demand in the domestic as well as the international market. The companys International Trade Division ITD in New Delhi an ISO 9001:2000 accredited unit of CMO undertakes exports of Mild Steel products and Pig Iron from SAILs five integrated steel plants. With technical and managerial expertise and knowhow in steel making gained over four decades the companys Consultancy Division SAILCON at New Delhi offers services and consultancy to clients worldwide.The company has a wellequipped Research and Development Centre for Iron and Steel RDCIS at Ranchi which helps to produce quality steel and develop new technologies for the steel industry. Besides they have their own inhouse Centre for Engineering and Technology CET Management Training Institute MTI and Safety Organisation at Ranchi. The Government of India owns about 75 of the companys equity and retains voting control of the company. However SAIL by virtue of their Maharatna status enjoys significant operational and financial autonomy.Steel Authority of India Ltd was incorporated on January 24 1973. The Ministry of Steel and Mines drafted a policy statement to evolve a new model for managing industry. The policy statement was presented to the Parliament on December 2 1972. On this basis the concept of creating a holding company to manage inputs and outputs under one umbrella was mooted. This led to the formation of Steel Authority of India Ltd. The company was made responsible for managing five integrated steel plants at Bhilai Bokaro Durgapur Rourkela and Burnpur the Alloy Steel Plant and the Salem Steel Plant. In the year 1974 SAIL International Ltd was incorporated to coordinate the export and import business. In the year 1976 Durgapur Mishra Ispat Ltd Bhiali Ispat Ltd and Rourkela Ispat Ltd were formed as fully owned subsidiaries of the company for taking over the running business of Alloy Steels Plants Bhilai steel Plant and Rourkela Steel Plant. In the year 1978 the company was restructured as an operating company. In the year 1982 the Salem Steel Plant was inaugurated at Salem in Tamil Nadu. The number of technological improvement schemes was undertaken during the year 1985 the most notable thing was the conversion of openhearth furnace No.10 into twin hearth furnace. A year after in 1986 all the PhaseI units under the plants 4 million tonnes expansion programme were commissioned. A vacuum arcdegassing unit was started in the converter shop and a second normalizing furnace in plate mill was added. In the year 1988 Visvesvaraya Irons Steel Co Ltd became a subsidiary of the company by acquisition of 60 of the shares. Also Bhilai Steel Plant set up a blast furnace bellless top charging system. In the year 1990 the company made a modernisation programme to revamp and technologically upgrade the plant. After the modernisation the plant slated for a crude steel capacity of 1.9 million TPA. In the year 1992 the companys RD unit at Ranchi was set up with a view to promote continuous improvement in critical performance indices of the steel plant in order to increase productivity reduce production cost and improve quality by production optimization or by introduction of new technologies. In the year 1993 the company launched the consultancy division with a view to harness the resources and expertise in steel related areas and market engineering technical managerial and training services.In the year 1994 two major schemes namely. new sinter plant III and expansion of oxygen plant II were taken up for implementation. Also C.O. Battery No. 10 was commissioned during the year. At Rourkela steel plant five of phase II modernisation packages viz. power distribution mobile equipment for RMHS II sizing plant at Satara and Tarkera intake facilities and makeup water pump houses for Tarkera works were commissioned. In the year 1995 the company ventured into setting up a power project at Bhilai by the form joint venture with Larsen Toubro and CEA USA Inc. In the year 1997 the modernisation of rail structural mill stage 1phase was commissioned. In the year 1999 the company made a marketing tie up with Tyazprom export TPE of Russia to sell the entire range of castings and pig iron produced by Kulti Works a division of Indian Iron and Steel Company IISCO. In the year 2000 the company signed a MoU with Egypts public sector Metallurgical Industries Corporation Micor for the establishment of a modern technical and management training centre for the Egyptian steel industry. They launched a new millennium special media campaign to hard sell its wide range of products. The Durgapur Steel Plant of the company commissioned the computerised integrated production planning and control PPC system that helps in practically every aspect of plant operation and dispatch. The company Tata Steel and Kalyani Steels Ltd entered into an agreement for creation of an Internetbased global independent B2B Steel Market place. During the year 200203 the company implemented major projects which includes up gradation of BF3 with increase in useful volume and installation of INBA Cast House Slag Granulation Plant at BF3 at DSP installation of Descaling Unit before 950 mm Roughing Stand of Rail Structural Mill of BSP and installation of Combined Blowing Technology in Converter No. 2 at SMSII of BSL. During the year 200405 the company entered into an agreement with GAIL for supply of natural gas for its integrated steel plants. They signed an MoU with KIOCL for joint development of some iron ore mines of the company. They received the prestigious SCOPE Gold Trophy for Excellence and Outstanding Contribution to the Public Sector ManagementInstitutional category for the year 200405. The company bagged Business worldFICCISEDF Corporate Social Responsibility Award 2006.During the year 200607 the company undertook a massive modernization and expansion plan with an indicative cost of over Rs. 40000 crore to expand capacity of hot metal to over 25 million tonnes from current level of 14.6 million tonnes. They introduced several new products in the domestic market namely HCREQR TMT for earthquake resistant construction rock bolt TMT for tunnel construction EN series HR coils for LPG cylinders MC 12 HR coils for chains etc. In addition Bhilai Steel Plant developed high strength vanadium rails Durgapur Steel Plant produced Sprofile loco wheels for highspeed locos and Rourkela Steel Plant rolled special plates which were used in the indigenously built rocket PSLV C7. During the year 200708 the company in association with Tata Steel Ltd formed a joint venture company to mine coal blocks for securing assured coking coal supply to meet their increasing production needs. During the year 200809 the company incorporated new joint venture companies namely SAIL MOIL Ferro Alloys Pvt Ltd. and ST Mining Co Pvt Ltd. They signed a Joint Venture Agreement signed with Govt. of Kerala GoK to acquire equity stake in Steel Complex Ltd SCL Kozhikode a Govt. of Kerala Undertaking. Also they singed an MoU with Shipping Corporation of India SCI for proposal for incorporation of a joint venture company for carrying out transportation of imported coking coal dry bulk shipping trade.During the year the company signed an MoU with Larsen Toubro Ltd LT for setting up captive / independent power plantss under joint venture using supercritical technology alongwith opportunities to own captive thermal coal blocks. They entered into an MoU with M/s. Rajasthan State Mines Minerals Ltd. RSMML A Govt. of Rajasthan Undertaking to ensure supply of Low Silica Limestone for a period of 10 years. Also they entered into an MoU with Bharat Earth Movers Ltd BEML Bangalore a Ministry of Defence Undertaking for a period of 3 years for supply of Heavy Earth Moving Equipment.During the year 200910 the company added two warehouses and two customer contact offices to their distribution network. With this the companys marketing network has expanded to 37 branch sales offices BSOs 26 customer contact offices CCOs and 67 Warehouses. The company also expanded their dealer network by appointing 700 dealers during the year. In July 28 2009 Bharat Refractories Ltd was amalgamated with the company with effect from April 1 2007. After amalgamation erstwhile BRL became a unit of SAIL and renamed as SAIL Refractory Unit SRU. Also the company acquired the assets of Malvika Steel Limited at Jagdishpur in Uttar Pradesh during the year. In August 2010 the company started hot trials at Salem Steel Plant SSP after expansion. In May 19 2010 the Government of India accorded the status of Maharatna to the company. During the year 201011 all major facilities under expansion plan of Salem Steel Plant completed on schedule in September 2010 and are under stabilisation for regular production. In July 2010 Blast Furnace unit 2 at Bokaro Steel Plant was upgraded commissioned. They completed upgradation of Plate Mill at Bhilai Steel Plant installation of 700 tonne per day Oxygen Plant simultaneous blowing of converters in SMSII at Rourkela Steel Plant and rebuilding of Coke Oven Battery10 at IISCO Steel Plant Burnpur.During the year Maharashtra Elecktosmelt Ltd MEL was amalgamated with the company with effect from April 1 2010 MEL became a unit of the company and it was renamed as Chandrapur Ferro Alloy Plant. In June 2010 Cabinet Committee on Economic Affairs CCEA approved transfer of Salem Refractory Unit of Burn Standard Company Ltd to the company.In December 2010 the company signed an MoU with RITES and incorporated an joint venture company SAIL RITES Bengal Wagon Industry Pvt Ltd for undertaking a feasibility study for setting up the Wagon Manufacturing Factory. The work on the newly incorporated joint venture company between SAIL and RITES has already commenced. In February 13 2011 the company formally acquired 50 of the shares held by the Government of Kerala GoK in Steel Complex Limited SCL Kozhikode and taken over the operations of SCL.In 2012 With an aim to provide impetus to its massive modernisation programme the company which is a fully integrated iron and steel maker producing both basic and special steels for domestic and for sale in export markets has inked a Memorandum of Understanding MOU with Swiss based company ABB which deals in robotics and automation technologies for the purpose of offering technical training to more than 4000 of its employees during a period of 24 months. The company also signed a 50:50 joint venture agreement with Burn Standard Company Limited BSCL at Kolkata for setting up a Wagon Components Manufacturing Facility at the premises of BSCL at Jellingham Purba Medinipore district in West Bengal with a capacity to produce 10000 bogies and 10000 couplers per annum. The company was also conferred with MoU Excellence Award for the year 201011 for the 9th consecutive year. In 2013 the company won PSE Excellence Award2013 for CSR Sustainability and SAIL Bhilai Steel Plant bags the National Energy Conservation Award 2013.In 2014 ICVL acquires Rio Tintos 2.6 Billion Tonnes coal resource in Mozambique. SAIL awarded Good Corporate Citizen Award 2014 by PHD Chamber. The companys Bhilai Steel Plant wins National Energy Conservation Award 2014. A New Sinter Plant and Coke Oven Battery at Bhilai was inaugurated during the year.In 2015 the company has completed the current phase of the modernisation and expansion of the Bokaro Steel Plant with an investment of Rs 6325 crore. The company also signed MOU with M/s. ArcelorMittal for Auto Body Steel Production. The company also has set up a steel processing unit at Billowa in Madhya Pradesh under partnership between SAIL and Prime Gold Pvt Ltd. The company has won an export contract to supply rails for modernisation and major expansion of railway network in Iran. SAILs Rourkela Steel Plant RSP also has set up power generation unit during the year under review.A Memorandum of Understanding MOU was signed on 7 November 2016 between POSCO and Steel Authority of India Ltd. SAIL on technical collaboration for operational improvements and Human Resource Development.On 23 January 2017 Union Steel Minister Birender Singh inaugurated the new Universal Rail Mill at Steel Authority of India Ltd.s SAIL Bhilai Steel Plant and flagged off the first rake from the new mill. With this SAIL has begun the commercial production of worlds longest single rail of 130 meters from the new Universal Rail Mill URM.Steel Authority of India Ltd. SAIL recorded the best ever sales performance for any given year during FY 17 AprMar17 with a growth of 8 over corresponding period last year CPLY. The total sales stood at 13.143 Million Tonnes in FY17.On 11 September 2017 Steel Authority of India Ltd. SAIL announced that it has tied up an External Commercial Borrowing ECB of USD 350 million with State Bank of India SBI for a door to door tenure of 7 years. The ECB has been arranged by SBI from its Hong Kong Branch and would be utilized by SAIL towards meeting expenditure on capital schemes including modernization and expansion MEP. The company is in the final leg of completing its balance modernization projects wherein it aims to diversify its product basket with more value added products and ready to use products customized to the market demands.On 3 October 2017 Prime Minister Narendra Modi inaugurated Steel Authority of Indias Steel Processing Unit SPU Kandrori at a function held in Bilaspur. This Steel Processing Unit of Steel Authority of India Limited SAIL shall produce TMT bars. The unit will also be able to produce Earth Quake Resistant and other grades of TMT bars.On 8 October 2017 Steel Authority of India Ltd. SAIL announced that it has entered into a strategic agreement with POSCO for wide ranging technical services for its IISCO Steel Plant ISP at Burnpur to assist in realizing the benefits from its new and state of the art plant. Under the agreement POSCO will provide technical supervising service including its knowhow relating to operation and maintenance of Cokemaking Iron and Steel making Continuous Casting Process Cold Dust Injection CDI operation and WireRod mills. This agreement is a result of an earlier MoU on Technical Collaboration for Operational improvement and Human Resource Development which SAIL and POSCO had entered into in November 2016. This technical agreement will pave the way for sharing of best practices in the area of technology and maintenance which will immensely benefit SAILISP in reaping benefits from its modernized units faster.Steel Authority of India Limiteds SAIL first blast furnace Parvati situated at SAILs Rourkela Steel Plant RSP was rebuilt under companys modernization and expansion program and was successfully blown in on 8 May 2018. SAILRSPs Blast Furnace No.1 Parvati was rebuilt with stateoftheart features and additional capacity. The useful volume of this rebuilt furnace in its new avatar has increased from 1139 cubic meter to 1710 cubic metre as a result of which the annual production capacity of the furnace will go up from 0.438 MT per annum to 1.015 MT per annum.On 14 June 2018 Prime Minister Shri Narendra Modi dedicated Steel Authority of India Ltd.s SAIL modernized and expanded Bhilai Steel Plant to the nation. With this historic dedication to the nation SAIL completed its modernization and expansion programme MODEX which enhances the steel making capacity of the Company to 21 MTPA.
OrganisationSteel Authority of India Ltd
HeadquartersNew Delhi
IndustrySteel