Steel Authority of India Limited (SAIL) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of Steel Authority of India Limited stock ₹139, price ₹160, that is 13.1% below the price, quality 61 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 2, 2026.
How to read this chart
60‑month range ₹59.43 – ₹203.41 · fair‑value band ₹104.11 – ₹193.60 · the ₹159.70 price screens above the ₹138.81 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 2, 2026.
Steel Authority of India Limited, a steel-making company, manufactures and sells iron and steel products in India and internationally.
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The company offers a range of railway products, which include rail, high YS/UTS rail, corrosion resistant micro alloyed rail, vanadium alloyed rail, end forged thick web asymmetric rail, high conductivity rail, crane rails, and crossing sleeper bars.
It also provides pig iron and pipes; semis; structural and TMT bars; galvanized products; wire rods, plate mill plates, and wheels and axles; hot rolled and cold rolled products; and stainless and electrical steel products.
It serves government organizations, PSUS, private companies, distributors, and resellers. Steel Authority of India Limited was founded in 1954 and is based in New Delhi, India.
Stock analysis
Steel Authority of India Limited (SAIL) currently trades at ₹159.70, while our model-based Fair Value estimate is ₹138.81, 13.1% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of ₹226.16 per share, and 11 of the 26 models we run sit above the ₹159.70 price.
Bear case: the Dividend Discount group reads lowest at ₹16.74, and 15 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: ₹104.11 (bear) to ₹193.60 (bull), the price of ₹159.70 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 61/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Steel Authority of India Limited reported revenue of ₹1.1T in FY2025 versus ₹1.0T in FY2021, a compound +1.7%/yr. Reported net income was ₹33.7B in FY2025, compounding −27.6%/yr from FY2021.
Key figures
Market cap ₹660B (≈ $6.9B) Mid · P/E ratio 25.8 · P/S ratio 0.66 · EPS (TTM) ₹6.19 · Dividend yield 0.9% · Net margin 2.6% · Return on equity 4.4% · Return on assets (EBIT) 5.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (medium confidence).
What moves the price
The share trades about 21% below its 52-week high and 28% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −33% fair-value upside, at −13%, SAIL screens cheaper than that median.
Fair Value models
Bear₹104.11Fair Value ₹138.81Bull₹193.60
Price ₹159.70 · Downside -13.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (₹5.19 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+8.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.9%
Start year 2020 (pandemic)
Revenue growth 9 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.3%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−6.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.2%
Dividend (yield on the price)0.9%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.13% → 5%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−1.7%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about −5.7% a year for the price and −0.7% for the forecasts.
Compare Steel Authority of India Limited with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Steel · 408 stocks
Beats the industry median on 5/15 measures
Overall it trails its industry peers.
Valuation
Quality Score61 · Top 25%
Fair Value upside−29.6% · Below median
Profitability
Return on equity (12 months)4.4% · Below median
Return on assets2.4% · Above median
Net margin (12 months)2.6% · Below median
Operating margin (12 months)2.9% · Below median
Growth and dividend
Revenue growth (quarter YoY)11.8% · Above median
Dividend yield (12 months)0.9% · Bottom 25%
Balance sheet
Debt / equity0.12× · Above median
Valuation Multiplesvs Steel median · lower = cheaper
P/E (12 months)25.8× · Pricier than median
P/B1.19× · Pricier than median
P/S (12 months)0.66× · Pricier than median
Price / free cash flow0.1× · Cheapest 25%
EV/EBITDA7.3× · Cheaper than median
PEG1.11× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 18
FUTURE (revenue growth)84· sector 59
PAST (return on equity)0· sector 21
HEALTH (low debt)93· sector 98
DIVIDEND (yield)0· sector 27
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Steel Authority of India Limited Fair Value". https://www.fairvalue-calculator.com/stock/SAIL.BSE
Frequently asked questions
Is Steel Authority of India Limited (SAIL) overvalued or undervalued?
As of Nov 2, 2026, our model estimates a fair value of ₹138.81 versus a price of ₹159.70, about 13% lower (overvalued).
What is the fair value of SAIL?
Our model-based fair value for Steel Authority of India Limited is ₹138.81 (as of Nov 2, 2026), built from audited fundamentals. The current price: ₹159.70.
What is the quality score of SAIL?
Steel Authority of India Limited has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Steel Authority of India Limited (SAIL)?
Our model-based price target is the fair value of ₹138.81 (as of Nov 2, 2026) from 26 valuation models. Cautious scenario ₹104.11, optimistic scenario ₹193.60. It is a calculation from audited fundamentals, not an analyst target.
What is the Steel Authority of India Limited stock forecast for 2026?
Our models put fair value at ₹138.81, about 13% lower versus a price of ₹159.70 (overvalued). Cautious scenario ₹104.11, optimistic scenario ₹193.60. The calculation is refreshed regularly with new filings.
What is the revenue of Steel Authority of India Limited (SAIL)?
Steel Authority of India Limited reported trailing-twelve-month revenue of about ₹1.1T (latest available figure, as of Nov 2, 2026).
Does Steel Authority of India Limited pay a dividend?
Steel Authority of India Limited currently shows a dividend yield of 0.92% relative to its recent price (as of Nov 2, 2026).
What growth is priced into Steel Authority of India Limited (SAIL)?
For today's price to be fair in a discounted-cash-flow model, Steel Authority of India Limited would have to grow free cash flow by -1.7 % per year for five years (discount rate 12.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.9 % per year. As of Nov 2, 2026.
What discount rate (WACC) does the fair value of SAIL use?
Our models discount Steel Authority of India Limited at 12.1 %: a base by market capitalisation (mid), damped by beta 0.92, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Steel Authority of India Limited that is -1.7 % per year a year over ten years, using the same discount rate (12.1 %) and the same formula as our fair value.
How much growth has Steel Authority of India Limited (SAIL) delivered so far?
Over the past 5 years revenue at Steel Authority of India Limited grew +9.9 % a year. The price currently implies -1.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Steel Authority of India Limited (SAIL) growing?
The median revenue growth in the sector is +9.6 % a year. That is the yardstick for the growth priced into Steel Authority of India Limited (-1.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Steel Authority of India Limited (SAIL)?
The free-cash-flow yield on the price is 15.59 %: that much free cash flow Steel Authority of India Limited produces per unit of market value. When it exceeds the discount rate of our models (12.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Steel Authority of India Limited (SAIL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Steel Authority of India Limited it is ₹138.81 per share (as of Nov 2, 2026), against a price of ₹159.70. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Steel Authority of India Limited stock overvalued or undervalued in 2026?
As of Nov 2, 2026, SAIL trades above its calculated fair value: price ₹159.70, fair value ₹138.81, a gap of about −13% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SAIL?
No. The price is what the market pays today (₹159.70); the fair value is what the company's own numbers justify (₹138.81). For Steel Authority of India Limited the two are ₹20.89 per share apart. That gap is exactly why we show both numbers side by side.
How much is Steel Authority of India Limited worth?
The market values Steel Authority of India Limited at about ₹660B (market capitalisation, as of Nov 2, 2026). Per share that is ₹159.70; our models calculate a fair value of ₹138.81 per share.
What do the bullish and bearish scenarios say about SAIL?
Our models span a range for Steel Authority of India Limited: cautious scenario ₹104.11, base ₹138.81, optimistic ₹193.60 per share (as of Nov 2, 2026, price ₹159.70). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SAIL?
Steel Authority of India Limited trades at a price-to-earnings ratio of 25.8 (as of Nov 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹138.81 is built from several models across several years. Other multiples: PEG 1.1, P/B 1.2, P/S 0.7, EV/EBITDA 7.3.
What is the PEG ratio of SAIL?
The PEG ratio of Steel Authority of India Limited is 1.11 (P/E divided by earnings growth, as of Nov 2, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Steel Authority of India Limited (SAIL)?
Balance-sheet figures for Steel Authority of India Limited (as of Nov 2, 2026): return on equity 4.4%, debt of 0.12 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is SAIL from its 52-week high?
Steel Authority of India Limited trades at ₹159.70, about 21% below its 52-week high of ₹203.41 and 28% above the low of ₹124.28 (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of ₹138.81 is for.
Which stocks are comparable to Steel Authority of India Limited?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Steel Authority of India Limited stock attractive at the current price?
The data as of Nov 2, 2026: price ₹159.70, calculated fair value ₹138.81 (−13%), Quality Score 61/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SAIL calculated?
We run Steel Authority of India Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹138.81, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. Steel Authority of India Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Steel Authority of India Limited (SAIL)?
The closing price on Oct 30, 2026 was ₹159.70. Our model-based fair value is ₹138.81, about 13% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Steel Authority of India Limited right now?
Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹104.11 to ₹193.60) leaves room in how you read the outcome.
Key figures of Steel Authority of India Limited
How large is the market capitalisation of Steel Authority of India Limited (SAIL)?
The market capitalisation of Steel Authority of India Limited is ₹660B (≈ $6.9B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Steel Authority of India Limited (SAIL)?
The price-to-sales ratio of Steel Authority of India Limited is 0.66 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Steel Authority of India Limited (SAIL)?
Earnings per share at Steel Authority of India Limited are ₹6.19 (price ÷ EPS = P/E 25.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Steel Authority of India Limited (SAIL)?
The dividend yield of Steel Authority of India Limited is 0.9% (payout 23.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Steel Authority of India Limited (SAIL)?
The net margin of Steel Authority of India Limited is 2.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Steel Authority of India Limited (SAIL)?
The return on equity (ROE) of Steel Authority of India Limited is 4.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Steel Authority of India Limited (SAIL)?
On an EBIT basis the return on assets of Steel Authority of India Limited is 5.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Steel Authority of India Limited (SAIL)?
The operating margin of Steel Authority of India Limited is 2.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Steel Authority of India Limited (SAIL)?
Revenue at Steel Authority of India Limited is growing +11.8% versus a year earlier (3y avg +2.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Steel Authority of India Limited (SAIL)?
Earnings per share at Steel Authority of India Limited are growing +168% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Steel Authority of India Limited (SAIL) carry?
The net debt of Steel Authority of India Limited is ₹216B (fiscal year 2025, ≈ 2.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 2, 2026