SAIL - Robust Domestic Demand To Drive Growth: Motilal Oswal

Motilal Oswal Report

Steel Authority of India Ltd., one of the largest steel manufacturers in India with an annual capacity of ~21 million tonne is all set to capture the growing steel demand amid expansion in infrastructure and construction.

SAIL has five integrated steel plants at Bhilai, Durgapur, Rourkela, Bokaro and IISCO (Burnpur) along with three special steel plants at Salem, Durgapur and Bhadravati (Visvesvaraya) and one ferroalloy plant at Chandrapur.

SAIL offers an entire gamut of steel products across flats, longs and semis with strong focus on value added products. The share of VAP stands at around 53% of the total volumes.

SAIL has strong iron ore linkages and the entire iron ore requirement is met by captive mines, which ensure adequate supply of key raw materials.

SAIL is the largest supplier of rails to Indian Railways. Between April 2022 and March 2023, SAIL has already produced ~1.4 mt of railway materials (~9% of the total volumes).

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