STEEL AUTHORITY OF INDIA

The earnings conference call for Steel Authority of India Limited (SAIL) on July 28, 2026, was led by Dr. Ashok Panda, Chairman and Managing Director. Management reported that the global economic scenario was adversely impacted by geopolitical tensions, affecting supply chains and fuel costs. Despite these challenges, the Indian steel industry experienced an 8% growth in consumption, although production growth was muted at 3%. SAIL's crude steel production for Q1 FY27 was 4.8 million tonnes, slightly down from 4.9 million tonnes year-on-year, with sales volume decreasing by 7-8%. However, the company achieved a significant increase in EBITDA, which rose over 50% to INR 4,356 crores. Management highlighted efforts to manage costs and improve operational efficiencies, maintaining a debt-equity ratio of 0.36. The company set a goal to increase sales volume and reduce inventory in the upcoming quarters, while also focusing on enhancing production from captive mines.

Management emphasized operational improvements and profitability despite external challenges.