Steel Authority of India (SAIL) Q4 24/25 earnings summary

Executive summary

• FY 2024-2025 revenue from operations was INR 1,02,478 crore, with net profit at INR 2,148 crore, reflecting a year-over-year decline despite Q4 net profit rising 16% YoY to INR 1,178 crore.

• Crude steel production for FY 2024-2025 was 19.17 million tons, with sales volume at 17.9 million tons, reducing finished goods inventory.

• EBITDA for FY 2024-2025 stood at INR 11,764 crore, with an EBITDA margin of 11.57%.

• EPS for FY 2024-2025 was 5.20, and net worth increased to INR 55,656 crore.

• Final dividend of INR 1.60 per share (16% of paid-up capital) recommended for FY 2024-2025, subject to shareholder approval.

Financial highlights

• Q4 FY 2024-2025 EBITDA was INR 3,781 crore; Q4 PAT was INR 1,178 crore, a significant sequential increase from Q3.

• Borrowings reduced to INR 29,811 crore as of March 31, 2025, with a debt-equity ratio of 0.66.

• Interest coverage ratio stood at 1.95, and DSCR at 2.68.

• Cost reduction of INR 650 crore achieved through operational efficiencies.

• EPS for FY 2024-2025 was 5.20 (standalone) and 5.74 (consolidated).

Outlook and guidance

• Management targets crude steel production of 20 million tons and sales of 19.2–19.3 million tons in FY 2025-2026.

• Indian steel demand is projected to grow 8.5% in 2025, outpacing global trends.

• CapEx guidance for FY 2025-2026 is INR 7,500 crore, with major expansion investments ramping up from FY 2026-2027 onward.

• Employee costs projected to decline by INR 400–500 crore in FY 2025-2026 due to natural attrition.

• Management remains focused on operational efficiency, cost optimization, and expansion aligned with the National Steel Policy.