S.A.L. Steel Limited (SALSTEEL.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-162.6%

-₹50.39

vs ₹80.49 price

Levered DCF

-₹118.93

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-920×	-24.53×	351.42×	32.62×	7.32×	2.28×	0.96×	-1.99×
P/B	2.2×	4.09×	4.02×	2.87×	2.28×	1.02×	1.05×	-34.1×
P/S	1.55×	0.29×	0.29×	0.23×	0.17×	0.09×	0.04×	0.08×
EV / EBITDA	45.6×	16.85×	12.6×	10.54×	8.12×	7.92×	6.91×	-22.86×
Gross margin	5.5%	16.2%	19.9%	19.7%	19.2%	27.1%	17.3%	23.5%
Operating margin	1.8%	2.5%	2.3%	0.3%	-2.5%	-3.1%	-6.3%	0.3%
Net margin	-0.2%	-1.2%	0.1%	0.7%	2.3%	3.8%	3.9%	-3.8%
Current ratio	2.31×	1.18×	1.42×	1.5×	0.58×	1.06×	1.09×	1.36×
Debt / equity	2.38×	4.58×	3.05×	3.08×	3.34×	5.68×	11.36×	-135.96×
Interest coverage	0.19×	0.81×	1.05×	0.22×	-68.32×	-39.31×	-16.99×	1.09×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-0.2%	-16.6%	1.1%	8.7%	31.1%	44.9%	109.0%	1716.5%
Return on invested capital	0.6%	5.1%	5.2%	0.6%	-4.9%	-4.5%	-11.8%	0.9%
Return on assets	-0.1%	-1.9%	0.2%	1.3%	4.0%	3.9%	5.1%	-7.6%
Free cash flow yield	-86.8%	-24.8%	7.6%	5.3%	26.3%	85.8%	120.1%	-36.9%
Earnings yield	-0.1%	-4.1%	0.3%	3.0%	13.7%	43.9%	103.8%	-50.3%
Enterprise value	₹6.7B	₹3.4B	₹2.9B	₹2.4B	₹2.1B	₹1.7B	₹1.8B	₹2.1B
Net debt / EBITDA	23.68×	8.9×	5.43×	5.45×	4.81×	6.7×	6.33×	-18.27×
Cash conversion cycle (days)	391	109	50	79	41	53	56	44