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S.A.L. Steel Limited (SALSTEEL) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of S.A.L. Steel Limited stock ₹60.19, price ₹90.08, that is 33.2% below the price, quality 23 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Basic Materials IN · ISIN INE658G01014

SA S.A.L. Steel Limited logo Thin data Nov 10, 2026

S.A.L. Steel Limited

SALSTEEL · NSE
Expensive, weak quality

Our calculation puts a fair price 33% below what the stock costs today.

Thin margins · 7.4% net margin (TTM)
Revenue last quarter 32% below a year ago.
Fair value ₹60.19 · Overvalued
Quality 23/100
Weak Growth (revenue 5y −7.2 %/yr in INR)
High debt
Negative free cash flow
Trails peers (2/12)
Narrow moat 29/100
Thin data
⟳ CyclicalEstimate
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

₹99.06 ₹7.70 Fair Value ₹60.19 Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range ₹7.70 – ₹99.06 · fair‑value band ₹45.14 – ₹75.24 · the ₹90.08 price screens above the ₹60.19 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

S.A.L. Steel Limited engages in the manufacture and sale of sponge iron, ferro alloys in India. The company operates through Iron & Steel and Power segments. It also provides direct reduced iron, iron ore pellets, and finished steel products.

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In addition, the company 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. S.A.L. Steel Limited operates as a subsidiary of Sree Metaliks Limited.

As of December 26, 2025, S.A.L. Steel Limited operates as a subsidiary of Sree Metaliks Limited.

Stock analysis

S.A.L. Steel Limited (SALSTEEL) currently trades at ₹90.08, while our estimate is ₹60.19, 33% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: ₹45.14 (bear) to ₹75.24 (bull), the price of ₹90.08 sits above 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 23/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

S.A.L. Steel Limited reported revenue of ₹2.1B in FY2026 versus ₹5.1B in FY2022, a compound −19.9%/yr. Reported net income was −₹3.5M in FY2026.

Key figures

Market cap ₹12.9B (≈ $137M) Micro · P/E ratio 71.5 · P/S ratio 7.70 · EPS (TTM) ₹1.26 · Net margin 7.4% · Return on equity −0.4% · Return on assets (EBIT) 1.1% (5-year average) · Operating margin 12.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (medium confidence).

What moves the price

The share trades about 9% below its 52-week high and 167% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −38% fair-value upside, at −33%, SALSTEEL screens cheaper than that median.

Fair Value

Bear ₹45.14 Fair Value ₹60.19 Bull ₹75.24
Price ₹90.08 · Downside -33.2%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 23/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 13
How much profit the company makes from its sales and capital
Quality Growth 31
Are margins and returns getting better?
Cashflow 33
Do the profits arrive as real cash?
Financial strength 14
Debt, balance sheet and risk of trouble
Investment 0
Does it invest with discipline instead of growing at any price?
Low Volatility 41
How calm the share price moves, does not count
Price momentum 100
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 93
Distance to the 52-week high, does not count
New shares 62
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 8/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−61.9%
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.
−25.2%
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.
−7.2%
Start year 2021 (pandemic). Over 10 years: −4.7% a year
Revenue growth 20 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.
+7.6%
Profit margin (trend) ⓘ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.
−3.1% (2021) → 1.8% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

SALSTEEL screens overvalued: fair value 33% below the price. Compare with Nucor Corporation →

Compare S.A.L. Steel Limited with another stock

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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 · 419 stocks

Beats the industry median on 2/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 23 · Bottom 25%
Fair Value upside −33.2% · Below median
Profitability
Return on assets −0.1% · Below median
Net margin (12 months) 7.4% · Top 25%
Operating margin (12 months) 12.4% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) −31.5% · Bottom 25%
Balance sheet
Debt / equity 1.98× · Highest 25%

Valuation Multiplesvs Steel median · lower = cheaper

P/E (12 months) 71.5× · Priciest 25%
P/B 8.78× · Priciest 25%
P/S (12 months) 7.70× · Priciest 25%
EV/EBITDA 47.0× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 26
FUTURE (revenue growth)0 · sector 36
PAST (return on equity)0 · sector 19
HEALTH (low debt)1 · sector 95
DIVIDEND (yield)0 · sector 53

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Steel stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Baoshan Iron & Steel Co 600019 ¥6.18 ¥8.07 +31% vs SALSTEEL
POSCO Holdings 005490 271,000 KRW 240,001 KRW −11% vs SALSTEEL
Tata Steel Limited TATASTEEL ₹184.85 ₹148.08 −20% vs SALSTEEL
JSW Steel Limited JSWSTEEL ₹1,347 ₹1,029 −24% vs SALSTEEL
ArcelorMittal S.A MT €58.52 €36.18 −38% vs SALSTEEL
Reliance, Inc RS $427.15 $211.54 −50% vs SALSTEEL
Nucor Corporation NUE $256.47 $116.49 −55% vs SALSTEEL
Jindal Steel Limited JINDALSTEL ₹1,146 ₹516.03 −55% vs SALSTEEL
Steel Dynamics, Inc STLD $236.12 $89.54 −62% vs SALSTEEL
Inner Mongolia Baotou Steel Union Co 600010 ¥2.00 ¥0.5400 −73% vs SALSTEEL

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S.A.L. Steel Limited: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "S.A.L. Steel Limited Fair Value". https://www.fairvalue-calculator.com/stock/SALSTEEL

Frequently asked questions

Is S.A.L. Steel Limited (SALSTEEL) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is ₹60.19 versus a price of ₹90.08, about 33% lower (overvalued).
What is the fair value of SALSTEEL?
Our estimate for S.A.L. Steel Limited is ₹60.19 (as of Nov 10, 2026), built from audited fundamentals. The current price: ₹90.08.
What is the quality score of SALSTEEL?
S.A.L. Steel Limited has a Quality Score of 23/100. 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 S.A.L. Steel Limited (SALSTEEL)?
Our calculated price target is the estimate of ₹60.19 (as of Nov 10, 2026). Cautious scenario ₹45.14, optimistic scenario ₹75.24. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the S.A.L. Steel Limited stock forecast for 2026?
Our estimate puts fair value at ₹60.19, about 33% lower versus a price of ₹90.08 (overvalued). Cautious scenario ₹45.14, optimistic scenario ₹75.24. The calculation is refreshed regularly with new filings.
What is the revenue of S.A.L. Steel Limited (SALSTEEL)?
S.A.L. Steel Limited reported trailing-twelve-month revenue of about ₹1.7B (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of S.A.L. Steel Limited (SALSTEEL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For S.A.L. Steel Limited it is ₹60.19 per share (as of Nov 10, 2026), against a price of ₹90.08.
Is S.A.L. Steel Limited stock overvalued or undervalued in 2026?
As of Nov 10, 2026, SALSTEEL trades above its calculated fair value: price ₹90.08, fair value ₹60.19, a gap of about −33% (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 SALSTEEL?
No. The price is what the market pays today (₹90.08); the fair value is what the company's own numbers justify (₹60.19). For S.A.L. Steel Limited the two are ₹29.89 per share apart. That gap is exactly why we show both numbers side by side.
How much is S.A.L. Steel Limited worth?
The market values S.A.L. Steel Limited at about ₹12.9B (market capitalisation, as of Nov 10, 2026). Per share that is ₹90.08; our models calculate a fair value of ₹60.19 per share.
What do the bullish and bearish scenarios say about SALSTEEL?
Our models span a range for S.A.L. Steel Limited: cautious scenario ₹45.14, base ₹60.19, optimistic ₹75.24 per share (as of Nov 10, 2026, price ₹90.08). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SALSTEEL?
S.A.L. Steel Limited trades at a price-to-earnings ratio of 71.5 (as of Nov 10, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹60.19 is built from several models across several years. Other multiples: P/B 8.8, P/S 7.7, EV/EBITDA 47.0.
How solid is the balance sheet of S.A.L. Steel Limited (SALSTEEL)?
Balance-sheet figures for S.A.L. Steel Limited (as of Nov 10, 2026): return on equity −0.4%, debt of 1.98 per unit of equity. They feed the Quality Score of 23/100, which measures business quality independently of the share price.
How far is SALSTEEL from its 52-week high?
S.A.L. Steel Limited trades at ₹90.08, about 9% below its 52-week high of ₹99.06 and 167% above the low of ₹33.80 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of ₹60.19 is for.
Which stocks are comparable to S.A.L. Steel 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 S.A.L. Steel Limited stock attractive at the current price?
The data as of Nov 10, 2026: price ₹90.08, calculated fair value ₹60.19 (−33%), Quality Score 23/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. S.A.L. Steel 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 S.A.L. Steel Limited (SALSTEEL)?
The closing price on Nov 9, 2026 was ₹90.08. Our estimate is ₹60.19, about 33% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with S.A.L. Steel Limited right now?
The price sits above even our optimistic bull case (₹75.24). The favourable scenario is already priced in. Weak quality (23/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of S.A.L. Steel Limited

How large is the market capitalisation of S.A.L. Steel Limited (SALSTEEL)?
The market capitalisation of S.A.L. Steel Limited is ₹12.9B (≈ $137M). 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 S.A.L. Steel Limited (SALSTEEL)?
The price-to-sales ratio of S.A.L. Steel Limited is 7.70 (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 S.A.L. Steel Limited (SALSTEEL)?
Earnings per share at S.A.L. Steel Limited are ₹1.26 (price ÷ EPS = P/E 71.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of S.A.L. Steel Limited (SALSTEEL)?
The net margin of S.A.L. Steel Limited is 7.4% (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 S.A.L. Steel Limited (SALSTEEL)?
The return on equity (ROE) of S.A.L. Steel Limited is −0.4% (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 S.A.L. Steel Limited (SALSTEEL)?
On an EBIT basis the return on assets of S.A.L. Steel Limited is 1.1% (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 S.A.L. Steel Limited (SALSTEEL)?
The operating margin of S.A.L. Steel Limited is 12.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at S.A.L. Steel Limited (SALSTEEL)?
Revenue at S.A.L. Steel Limited is growing −31.5% versus a year earlier (3y avg −25.2%). 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 S.A.L. Steel Limited (SALSTEEL)?
Earnings per share at S.A.L. Steel Limited are growing +52.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does S.A.L. Steel Limited (SALSTEEL) generate?
The free cash flow of S.A.L. Steel Limited is −₹2.8B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does S.A.L. Steel Limited (SALSTEEL) carry?
The net debt of S.A.L. Steel Limited is ₹3.5B (fiscal year 2026). 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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