SAL Steel
38.75
-2.04(-5.00%)
Market Cap₹329.25 Cr
PE Ratio-36.36
Company Performance:
1D-5.00%
1M-1.40%
6M+110.71%
1Y+62.34%
5Y+1,213.56%
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More news about SAL Steel
12Sept 25
Sree Metaliks Launches ₹94 Crore Open Offer for SAL Steel, Aims to Acquire 26% Stake
Sree Metaliks Limited has announced an open offer to acquire up to 26% of SAL Steel Limited for ₹94.09 crore at ₹25 per share. This follows agreements to purchase shares from current promoters and a preferential allotment of new shares and warrants. If successful, Sree Metaliks could hold a 96.98% stake in SAL Steel. The offer opens on October 31, 2025, and closes on November 14, 2025. This move signifies a major shift in SAL Steel's ownership and control.
05Sept 25
SAL Steel Announces Major Stake Sale and Preferential Issue to Sree Metaliks Limited
SAL Steel Limited's board approved a significant ownership change and capital infusion. Sree Metaliks Limited will acquire shares from current promoters, becoming the new promoter. A preferential issue of ₹99 crore to Sree Metaliks includes equity shares and convertible warrants at ₹18 per share. Funds will be used for working capital, a new pellet plant, facility upgrades, and infrastructure improvements. The transaction involves a mandatory open offer and reclassification of existing promoters as public shareholders. SAL Steel's authorized share capital will increase to ₹145 crore.
04Sept 25
SAL Steel Approves Strategic Agreements with Sree Metaliks, Paving Way for New Promoter
SAL Steel Limited's board has approved two key agreements with Sree Metaliks Limited. A Share Purchase Agreement will see current promoters sell a substantial stake to Sree Metaliks, making it the new promoter. A Share Subscription Agreement will raise ₹99 crores through issuance of new shares and warrants. The authorized share capital will increase from ₹140 crores to ₹145 crores. Post-transaction, Sree Metaliks is expected to hold a 37.99% stake in SAL Steel. The deals are subject to shareholder and regulatory approvals.
14Aug 25
SAL Steel Reports Net Loss of Rs 9.68 Crore in Q1 Amid Rising Expenses
SAL Steel, a Ferro Alloys and Sponge Iron manufacturer, reported a net loss of Rs 9.68 crore for Q1 FY2023-24, compared to a net profit of Rs 0.16 crore in Q1 FY2022-23. Revenue from operations increased to Rs 127.55 crore from Rs 110.70 crore year-on-year. However, total expenses surged to Rs 140.62 crore, resulting in a loss before tax of Rs 12.94 crore. Rising material costs, inventory changes, and increased finance costs contributed to the loss. The company's EPS for the quarter was negative Rs 1.14. Auditors highlighted non-provision of Electricity Duty and failure to impair Capital Work in Progress as key issues.
SAL Steel
38.75
-2.04
(-5.00%)
1 Year Returns:+62.34%
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