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Motilal Oswal Report
Steel Authority of India Ltd. remained in focus after Motilal Oswal reiterated its Buy rating on the stock and revised the target price upward to Rs 225, implying a potential upside of around 17% from current levels, following a strong Q4 FY26 performance.
The brokerage said SAIL reported robust operational performance during the quarter, aided by higher steel prices, better realizations and operational efficiency gains. Ebitda stood at Rs 4,490 crore, significantly ahead of estimates, while adjusted PAT came in at Rs 2,170 crore, supported by stronger operating performance and higher other income.
Volumes during the quarter were in line with the brokerage's estimate, where crude steel production stood at 5.1mt (flat YoY and +5% QoQ), and sales volume stood at 5.3mt (flat YoY and +3% QoQ), led by aggressive inventory liquidation and improved market outreach.
Volume contribution from NMDC steel declined to merely ~0.1mt in Q4 FY26, as SAIL discontinued the sale of the product
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