Steel Authority of India Ltd (SAIL) on Friday posted over two-fold jump in consolidated net profit to Rs 374.03 crore, supported by higher revenues. It had reported a net profit of Rs 141.89 crore in the October-December period of the preceding fiscal, the company said in an exchange filing.

The company’s total income rose over 11% to Rs 27,545.93 crore from Rs 24,723.43 crore a year ago.

In a separate statement, the company’s CMD Amarendu Prakash said, “We have delivered an improvement in profitability, with profit after tax rising 60 per cent year-on-year for 9M FY26, driven by higher volumes, operating leverage and prudent financial management. The strong sales traction was supported by robust domestic demand and improved market penetration”.

He said that despite volatility on the input cost front and a competitive pricing environment, the company sustained operating profitability, supported by higher volumes, product mix optimisation, and continued cost discipline.

In April-December, the company’s profit after tax (PAT) was Rs 1,554 crore, higher than Rs 970 crore in the nine-month period of FY25.

SAIL produced 14.35 million tonnes of steel in 9M FY26 and sold 16.61 million during the nine-month period.

SAIL, under the Ministry of Steel, is among India’s top five steel-making companies, having an overall capacity of over 21 million tonnes.

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A man stands next to an advertisement of Steel Authority of India Ltd. (SAIL) at a street in New Delhi, India, August 5, 2016. To match Interview INDIA-SAIL/ REUTERS/Adnan Abidi/File Photo
| Photo Credit: Reuters

Steel Authority of India Ltd will be investing ₹6,500 crore towards capex during the current financial year as part of its ₹1 lakh crore investment plan over the next few years, SAIL CMD Amarendu Prakash said on July 5.

Speaking to mediapersons on the sidelines of a programme organised by Indian Steel Association here, Prakash said the steel industry approached the government seeking measures to control the dumping of cheap metal by China into India and hoped that steps will be taken to address the menace.

“This year, the capex target is ₹6,500 crore. We also have regular capex on maintaining our facilities, as well as debottlenecking exercises. Most of the capex expansion (₹1 lakh crore by 2030) will start flowing from FY26.

In the first phase from (the capacity) 20 million tonnes, we go to 35 million tons tonnes per annum by 2031. In the next phase, we will make it 50 million tonnes,” the SAIL CMD told reporters.

In the past, SAIL management had informed investors about a planned ₹1 lakh crore investment across its plants for greenfield and brownfield expansions over the next 3-4 years, while aiming to maintain a debt-equity ratio of 1:1.

On the steel outlook, he said the world is growing at 0.5% while India grew at 13% last year and will continue to grow at 8% CAGR in the next 10 years.

On import of cheap steel from China, he said around the world countries have taken different steps such as increasing import tax and India is also expected to take calibrated steps.

“There are various ways in which trade measures are handled. So it is not just one single figure in percentage. We need to see the quality of steel which is coming to India, the prices at which the steel is coming to India,” the official said.

According to reports, last year India extended the imposition of an anti-dumping duty on certain Chinese steel for another five years.