SAIL stock declines 3.5% after weak Q2 show; key highlights here

State-owned SAIL said its consolidated net profit fell more than 53% to ₹418.72 crore in the September quarter. It had clocked a net profit of ₹897.15 crore in the July-September quarter of the preceding 2024-25 financial year, the company said in a regulatory filing.

The company's total income, however, rose to ₹26,910.04 crore from ₹24,842.18 crore in the year-ago period.

In a separate statement, SAIL Chairman Amarendu Prakash said, "H1 FY26 performance demonstrates SAIL's consistency across both operational and financial metrics. The company has maintained high capacity utilisation for steady production."

He said the company has achieved a significant increase in sales volume despite the volatility in global steel markets.

As per the statement, in the April-September period of FY26, the company's net profit stood at ₹1,163 crore, higher than ₹978.93 crore in the six-month period a year ago.

Its debt declined to ₹26,427 crore.

Further, for the first half of FY26 (H1 FY26), SAIL maintained steady crude steel production at 9.5 million tonnes. Sales volume grew by 16.7% as the company expanded its outreach to retail and other consumer segments. Revenue from operations crossed ₹52,600 crore, supported by higher sales volumes despite pricing challenges in the market.

Profit after tax (PAT) rose 32% in H1 FY26, reflecting improved operational efficiency and effective cost optimisation measures. The company’s debt declined to ₹26,427 crore, as SAIL continued its efforts to move closer to its March 2023 levels.

Steel Authority of India Ltd (SAIL), under the Ministry of Steel, is among India's largest steel-making players.

“With steely resolve and collective team efforts, we have achieved a significant increase in sales volume despite the volatility in global steel markets. Coupled with the drive towards efficiency improvement and cost rationalisation, this translated into robust financial performance,” said Prakash.

Following the earnings, SAIL shares dipped on Thursday. At 1 PM, the stock was trading at ₹136.92 apiece, declining 2.58%.