SAIL’s Steel Surge: Profit Jumps, Dividend Sweetens FY26 Finish

SAIL’s March-quarter numbers highlight resilient operating performance despite volatile steel prices and input-cost pressures. Higher volumes, stronger EBITDA and reduced debt have collectively boosted profitability and supported an enhanced shareholder payout.  

Quarter Four Momentum And Earnings Trend 

In Q4 FY26, crude steel production stood at 5.08 million tonnes and sales at 5.32 million tonnes, reflecting stable operational momentum. Standalone EBITDA rose to ₹4,762 crore, with profit before tax at ₹2,324 crore after accounting for exceptional items mainly linked to gratuity and DVC tariff adjustments.  

Full-Year FY26 Performance And Balance Sheet  

For FY26, SAIL reported record standalone revenue from operations of ₹1,10,810 crore, with PAT at ₹3,233 crore, up about 50.5% year-on-year on the back of higher sales volumes (19.93 MT) and better margins. Debt reduction of ₹8,148 crore over the previous year improved leverage ratios, while key coverage metrics such as DSCR and ISCR also strengthened.  

Strategic Levers And Outlook – Key Highlights  

• Best-ever production and sales volumes in FY26, with crude steel at 19.43 MT and sales at 19.93 MT  
• Standalone EBITDA for FY26 at ₹13,146 crore; PBT at ₹4,334 crore and PAT at ₹3,233 crore, up sharply YoY  
• Final dividend of ₹2.35 per share (23.5% of paid-up equity), payable post AGM approval  
• Debt-equity ratio improved to 0.55, with total financial indebtedness at about ₹21,663 crore and stronger coverage ratios 
• Management guiding for higher value-added and special steel share, supported by healthy domestic steel demand from infrastructure and capital spending tailwinds  

Sources: SAIL Q4 & FY26 audited financial results, segment disclosures, press release and regulatory filings dated 15 May 2026