S.A.L. Steel Limited (532604) Fair Value & Analysis
Basic Materials · IN · Market cap ₹218M
Fair value as of: Aug 18, 2026
From 4 valuation models · updated today
Share price +35.6% over the past month.
Below-average quality, and screening another 89% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (₹7.81). The favourable scenario is already priced in.
- Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The model range is unusually wide (₹2.19 to ₹7.81). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 18, 2026.
How to read this chart
60‑month range ₹3.51 – ₹71.88 · fair‑value band ₹2.19 – ₹7.81 · the ₹71.88 price screens above the ₹7.81 fair value. Dashed = 300-day average. As of Aug 18, 2026.
Analysis
S.A.L. Steel Limited (532604) currently trades at ₹71.88, while our model-based Fair Value estimate is ₹7.81, implying the stock looks roughly 89.1% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).
Over the trailing twelve months, S.A.L. Steel Limited generated revenue of ₹2.8B at a net margin of -1.3%. Revenue declined 10.8% year over year. It earns a return on equity of -30.5%. Fundamentals as of Aug 18, 2026
Our scenario range runs from ₹2.19 (bear case) to ₹7.81 (bull case); at ₹71.88, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 3% below its 52-week high and 355% above its 52-week low. For context, the median of 10 Basic Materials peers we cover trades at -41% fair-value upside, at -89%, 532604 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 4 models by family
Widest divergence: Multiples (₹7.81) versus Asset-Based (₹3.05). Highest evidence: EV/EBITDA (54).
Notify me when 532604 reaches fair value
Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 40 · Market factors (momentum, volatility) 74
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
S.A.L. Steel Limited manufactures and sells sponge iron and ferro alloys in India and internationally. It operates through Iron & Steel and Power segments. The company also offers iron ore pellets and finished steel products. Its products are primarily used in iron and steel industries.
Full company description
S.A.L. Steel Limited manufactures and sells sponge iron and ferro alloys in India and internationally. It operates through Iron & Steel and Power segments. The company also offers iron ore pellets and finished steel products. Its products are primarily used in iron and steel industries. In addition, it generates and sells 40 MW power from waste heat recovery boiler and fluidized bed combustion boiler. S.A.L. Steel Limited was incorporated in 2003 and is based in Gandhinagar, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
S.A.L. Steel Limited reported revenue of ₹5.4B in FY2025 versus ₹3.0B in FY2021, a compound +16.0%/yr. Reported net income was −₹64.2M in FY2025.
532604 screens 89% overvalued. Compare with Steel Authority of India Limited →
Peer Group
Materials · 3561 stocks
How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Steel & Iron” was too small, so the broader sector is used.)
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Steel & Iron stocks, each showing price versus our Fair Value estimate (as of Aug 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Steel Authority of India Limited 500113 | ₹174.00 | ₹89.25 | -49% |
| Surya Roshni Limited 500336 | ₹222.90 | ₹652.46 | +193% |
| Mukand Limited 500460 | ₹135.65 | ₹80.48 | -41% |
| Steelcast Limited 513517 | ₹354.10 | ₹365.70 | +3% |
| Uni Abex Alloy Products Limited 504605 | ₹4,574 | ₹3,296 | -28% |
| Panchmahal Steel Limited 513511 | ₹298.55 | ₹36.13 | -88% |
| Bhagwati Autocast Limited 504646 | ₹692.10 | ₹664.13 | -4% |
| Facor Alloys Limited 532656 | ₹3.21 | ₹1.15 | -64% |
| Rathi Bars Limited 532918 | ₹19.05 | ₹4.56 | -76% |
| Rishabh Digha Steel And Allied Products Limited 531539 | ₹36.10 | ₹7.61 | -79% |
Compare S.A.L. Steel Limited with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Basic Materials stocks →
Frequently asked questions
Is S.A.L. Steel Limited (532604) overvalued or undervalued?
What is the fair value of 532604?
What is the quality score of 532604?
What is the revenue of S.A.L. Steel Limited (532604)?
What is the net profit margin of 532604?
How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
Track S.A.L. Steel Limited and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.