The state-owned Maharatna, Steel Authority of India Limited (SAIL), today announced its financial results for the half-year ended 30th September 2026 (H1 FY’27), showcasing resilient performance and improved profitability.
During the first half of FY 2026-27, SAIL demonstrated steady operational and top-line growth. Crude steel production rose to 9.61 million tonnes (MT) compared to 9.50 MT in H1 FY’26, while sales volume stood at 9.33 MT against 9.46 MT in the corresponding prior period. Driven by strong demand realization, revenue from operations grew substantially by 10.7% year-over-year to Rs. 58,243 crore, compared to Rs. 52,625 crore recorded in H1 FY’26. Operating performance saw significant expansion as Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) rose by 55% to Rs. 8,917 crore from Rs. 5,754 crore in H1 FY’26. Consequently, Profit Before Exceptional Items and Tax jumped to Rs. 4,732 crore against Rs. 1,781 crore in the previous year. Accounting for exceptional items of Rs. 217 crore, Profit Before Tax (PBT) reached Rs. 4,515 crore compared to Rs. 1,443 crore in H1 FY’26. Profit After Tax (PAT) for the half-year surged over three-fold to Rs. 3,410 crore, up from Rs. 1,112 crore reported in H1 FY’26.
To look at the quarterly performance, In the second quarter of FY 2026-27, SAIL maintained strong momentum across production, top-line, and earnings compared to both the previous quarter (Q1 FY’27) and the corresponding period last year (Q2 FY’26). Crude steel production reached 4.85 MT in Q2 FY’27, up from 4.76 MT in Q1 FY’27 and 4.65 MT in Q2 FY’26. Sales volume registered robust growth, reaching 5.16 MT compared to 4.16 MT in Q1 FY’27. After factoring in exceptional items of Rs. (73) crore, PBT stood at Rs. 2,356 crore compared to Rs. 2,159 crore in Q1 FY’27 and Rs. 553 crore in Q2 FY’26. Profit After Tax (PAT) for Q2 FY’27 reached Rs. 1,774 crore, reflecting steady growth over Rs. 1,636 crore in Q1 FY’27 and a steep rise from Rs. 427 crore in Q2 FY’26.
Overall, the Sales volume grew by 5% in Q2 FY 2026-27 over the corresponding period of the last year (CPLY), driven by increased outreach to retail and consumer segments. Boosted by higher sales volumes and focused cost-optimization initiatives, Profit After Tax (PAT) surged by ~315% in Q2 FY 2026-27 compared to CPLY. Total debt fell to Rs. 20,583 crore as the company pushed forward with its ongoing strategy to reduce overall borrowings.
Speaking on the occasion, Dr. A K Panda, CMD, SAIL said, “SAIL’s performance in H1 and Q2 FY 2026–27 reflects our operational resilience, financial prudence and strategic agility amid global market volatility. Leveraging India’s strong infrastructure growth and rising domestic steel demand, we achieved an 8.2% QoQ growth in finished and saleable steel during Q2, supported by higher sales volumes and robust production, alongside a significant increase in iron ore production and sales. Our focus remains on enhancing techno-economic parameters, rationalizing costs, maintaining inventory discipline through systematic stock reduction and increasing the share of high end products to improve profitability and strengthen our balance sheet through sustained reduction in borrowings.”
