About S A L Steel Limited
Data last updated: 15 July 2026
S A L Steel Limited is a public limited company based in Daskroi, Gujarat, India. It specialises in steel manufacturing and processing, a part of the broader metals and mining sector. Incorporated on 06 November 2003, the company has been in operation for over 23 years.
Registered with ROC Ahmedabad under CIN L29199GJ2003PLC043148. Listed on BSE: 532604 and NSE: BE : SALSTEEL.
Capital: an authorised share capital of ₹145 Cr and a paid-up capital of ₹144.77 Cr. Formerly known as S a L Steel Private Limited. It is led by directors including Nipa Jairaj Shah and Bipinbhai Amulakhbhai Gosalia.
Last AGM: 26 September 2025. Financial statements filed for year ended 31 March 2025. Office: Daskroi, Gujarat.
As per NSE-filed standalone financials for FY 2026, the company reported a revenue of ₹207.4 Cr, a decline of 61.88% compared to the previous year. The net worth stands at ₹146.62 Cr (up 278.57% YoY). Total assets are valued at ₹621.47 Cr (up 83.62% YoY).
The company has a workforce of approximately 343 employees as per the latest available data.
The company is associated with 1 brand - Sal Steel. As per MCA filings, the company has open charges of ₹374.56 Cr and satisfied charges of ₹451.76 Cr on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website salsteel.co.in.
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Registered Address604 Zion Z1 Near Avalon Hotel, Sindhubhawan Road, Daskroi, Gujarat, India – 380059
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IndustryMetals and Minerals, Steel Manufacturing & Processing
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
CIN History of S A L Steel Limited
S A L Steel Limited has one previous CIN (Corporate Identification Number): U29199GJ2003PLC043148. The current CIN is L29199GJ2003PLC043148, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L29199GJ2003PLC043148 | Current |
| U29199GJ2003PLC043148 | Previous |
Associated Brands with S A L Steel Limited
S A L Steel Limited operates one associated brand: SAL Steel. These brands represent S A L Steel Limited's diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| Steel, steel products, and ferro alloys are manufactured. | salsteel.co.in |
Business Activity of S A L Steel Limited
S A L Steel Limited is engaged in the principal business activity of manufacturing, with detailed activities including metal and metal products.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C7 | Metal and metal products | Locked |
Business activity turnover details for S A L Steel Limited
Turnover contribution percentages and historical activity changes require an active report plan.
- Turnover contribution
- Historical classifications
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Auditor Details of S A L Steel Limited
S A L Steel Limited is audited by Parikh & Majmudar for the financial year 2023. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Parikh & Majmudar | Locked | Locked | Locked |
Complete auditor history for S A L Steel Limited
Appointment status, appointment dates, cessation dates, and historical auditor changes require an active report plan.
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Board of Directors of S A L Steel Limited
S A L Steel Limited is currently managed by 7 directors, with 29 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
|
Nipa Jairaj Shah
Also directs:
Shah Alloys Limited
|
Director | 12 Nov 2024 | 1 Years 9 Months | Current |
|
Bipinbhai Amulakhbhai Gosalia
Also directs:
Shah Alloys Limited
|
Director | 24 Feb 2024 | 2 Years 6 Months | Current |
| Rajesh Mangal | Director | 14 Feb 2026 | 0 Years 6 Months | Current |
| Anil Kumar Singh | Whole-Time Director | 14 Feb 2026 | 0 Years 6 Months | Current |
| Mahesh Kumar Agarwal | Managing Director | 23 Dec 2025 | 0 Years 8 Months | Current |
|
Kaustubh Agarwal
Also directs:
Sree Metaliks Ltd., Elite Metaliks Private Limited
|
Managing Director | 23 Dec 2025 | 0 Years 8 Months | Current |
Financials of S A L Steel Limited FY 2026 filings available
S A L Steel Limited reported revenue of ₹207.4 Cr (down 61.88% YoY) for FY 2026.
| Metrics | FY 2026 | FY 2025 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue from Operations | ₹207.4 Cr | ₹544.12 Cr | ₹495.73 Cr | ₹505.27 Cr | ₹300.91 Cr | ₹407.84 Cr |
| Other Income | ₹17 Lakh | ₹87 Lakh | ₹14.4 Cr | ₹29.26 Cr | ₹21.96 Cr | ₹44.3 Cr |
| Total Income | ₹207.57 Cr | ₹544.99 Cr | ₹510.13 Cr | ₹534.53 Cr | ₹322.87 Cr | ₹452.14 Cr |
| Cost of Materials Consumed | ₹198.89 Cr | ₹467.74 Cr | ₹375.91 Cr | ₹378.78 Cr | ₹212.81 Cr | ₹317.96 Cr |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹89 Lakh | ₹4.65 Cr |
| Changes in Inventories | -₹41.95 Cr | -₹17.28 Cr | -₹3.45 Cr | -₹3.29 Cr | -₹5.11 Cr | ₹3.78 Cr |
| Employee Benefit Expense | ₹7 Cr | ₹12.1 Cr | ₹18.73 Cr | ₹17.11 Cr | ₹15.4 Cr | ₹10.09 Cr |
| Finance Costs | ₹20.31 Cr | ₹16.67 Cr | ₹7.82 Cr | ₹19 Lakh | ₹24 Lakh | ₹1.51 Cr |
| Depreciation & Amortisation | ₹10.86 Cr | ₹10.57 Cr | ₹9.54 Cr | ₹9.16 Cr | ₹9.02 Cr | ₹7.52 Cr |
| Other Expenses | ₹28.94 Cr | ₹58.34 Cr | ₹96.06 Cr | ₹116.33 Cr | ₹77.2 Cr | ₹89.56 Cr |
| Total Expenses | ₹224.05 Cr | ₹548.14 Cr | ₹504.61 Cr | ₹518.28 Cr | ₹310.45 Cr | ₹435.07 Cr |
| Profit Before Exceptional Items & Tax | -₹16.48 Cr | -₹3.15 Cr | ₹5.52 Cr | ₹16.25 Cr | ₹12.42 Cr | ₹17.07 Cr |
| Exceptional Items | ₹16.09 Cr | -₹4.16 Cr | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | -₹39 Lakh | -₹7.31 Cr | ₹5.52 Cr | ₹16.25 Cr | ₹12.42 Cr | ₹17.07 Cr |
| Total Tax Expense | -₹4 Lakh | -₹88 Lakh | ₹1.98 Cr | ₹4.7 Cr | ₹86 Lakh | ₹1.19 Cr |
| Net Profit | -₹35 Lakh | -₹6.43 Cr | ₹3.54 Cr | ₹11.55 Cr | ₹11.56 Cr | ₹15.88 Cr |
| Other Comprehensive Income | ₹25 Lakh | ₹12 Lakh | ₹15 Lakh | ₹13 Lakh | ₹6 Lakh | -₹6 Lakh |
| Total Comprehensive Income | -₹10 Lakh | -₹6.31 Cr | ₹3.69 Cr | ₹11.68 Cr | ₹11.62 Cr | ₹15.82 Cr |
| EBITDA (computed) | ₹14.69 Cr | ₹24.09 Cr | ₹22.88 Cr | ₹25.6 Cr | ₹21.68 Cr | ₹26.1 Cr |
| Basic EPS | ₹-0.04 | ₹-0.76 | ₹0.42 | ₹1.36 | ₹1.36 | ₹1.87 |
| Diluted EPS | ₹-0.04 | ₹-0.76 | ₹0.42 | ₹1.36 | ₹1.36 | ₹1.87 |
| Metrics | FY 2026 | FY 2025 | FY 2023 |
|---|---|---|---|
| Total Assets | ₹621.47 Cr | ₹338.45 Cr | ₹276.74 Cr |
| Non-current Assets | ₹327.2 Cr | ₹154.39 Cr | ₹142.78 Cr |
| Current Assets | ₹294.27 Cr | ₹184.06 Cr | ₹133.96 Cr |
| Property, Plant & Equipment | ₹141.7 Cr | ₹150.52 Cr | ₹136.28 Cr |
| Inventories | ₹233.43 Cr | ₹99.95 Cr | ₹58.67 Cr |
| Trade Receivables | ₹1.71 Cr | ₹67.81 Cr | ₹69.93 Cr |
| Cash & Equivalents | ₹47 Lakh | ₹19 Lakh | ₹22 Lakh |
| Equity (Net Worth) | ₹146.62 Cr | ₹38.73 Cr | ₹41.53 Cr |
| Equity Share Capital | ₹144.77 Cr | ₹84.97 Cr | ₹84.97 Cr |
| Borrowings (Non-current) | ₹290.91 Cr | ₹125 Cr | ₹125 Cr |
| Borrowings (Current) | ₹58.29 Cr | ₹52.53 Cr | ₹0 |
| Total Debt (computed) | ₹349.2 Cr | ₹177.53 Cr | ₹125 Cr |
| Current Liabilities | ₹127.3 Cr | ₹155.93 Cr | ₹89.53 Cr |
| Total Liabilities | ₹474.85 Cr | ₹299.72 Cr | ₹235.21 Cr |
| Metrics | FY 2026 | FY 2025 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Operating Cash Flow | -₹84.31 Cr | -₹20.68 Cr | ₹8.36 Cr | ₹22.36 Cr |
| Investing Cash Flow | -₹174.75 Cr | -₹18.2 Cr | -₹2.12 Cr | ₹8 Lakh |
| Financing Cash Flow | ₹259.36 Cr | ₹38.86 Cr | -₹6.98 Cr | -₹22.12 Cr |
| Capital Expenditure | ₹174.83 Cr | ₹18.62 Cr | ₹2.18 Cr | ₹0 |
| Free Cash Flow (computed) | -₹259.14 Cr | -₹39.3 Cr | ₹6.18 Cr | ₹22.36 Cr |
| Dividends Paid | ₹0 | ₹0 | ₹0 | ₹0 |
| Net Change in Cash | ₹30 Lakh | -₹2 Lakh | -₹74 Lakh | ₹32 Lakh |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q3 FY24 | Q2 FY24 | Q1 FY24 | Q4 FY23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹11.93 Cr | ₹2.2 Cr | ₹65.73 Cr | ₹127.55 Cr | ₹116.38 Cr | ₹193.56 Cr | ₹123.48 Cr | ₹110.7 Cr | ₹126.94 Cr | ₹157 Cr | ₹153.24 Cr | ₹106.52 Cr |
| Other Income | ₹4 Lakh | ₹0 | ₹0 | ₹13 Lakh | ₹56 Lakh | ₹26 Lakh | ₹4 Lakh | ₹1 Lakh | ₹2.59 Cr | ₹0 | ₹40 Lakh | ₹5.79 Cr |
| Total Income | ₹11.97 Cr | ₹2.2 Cr | ₹65.73 Cr | ₹127.68 Cr | ₹116.94 Cr | ₹193.82 Cr | ₹123.52 Cr | ₹110.71 Cr | ₹129.53 Cr | ₹157 Cr | ₹153.64 Cr | ₹112.31 Cr |
| Cost of Materials Consumed | ₹34.71 Cr | ₹0 | ₹58.46 Cr | ₹105.72 Cr | ₹101.5 Cr | ₹167.38 Cr | ₹102.94 Cr | ₹95.92 Cr | ₹98.68 Cr | ₹119.14 Cr | ₹111.03 Cr | ₹79.43 Cr |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹24 Lakh | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | -₹33.43 Cr | ₹1.15 Cr | -₹20.02 Cr | ₹10.35 Cr | ₹2.93 Cr | -₹7.45 Cr | -₹19 Lakh | -₹12.57 Cr | ₹1.87 Cr | ₹2.07 Cr | ₹3.17 Cr | -₹1.17 Cr |
| Employee Benefit Expense | ₹37 Lakh | ₹33 Lakh | ₹2.99 Cr | ₹3.31 Cr | ₹2.99 Cr | ₹2.89 Cr | ₹2.9 Cr | ₹3.32 Cr | ₹4.03 Cr | ₹4.33 Cr | ₹3.4 Cr | ₹4.69 Cr |
| Finance Costs | ₹4.57 Cr | ₹5.67 Cr | ₹5.14 Cr | ₹4.93 Cr | ₹5.1 Cr | ₹4.67 Cr | ₹3.22 Cr | ₹3.18 Cr | ₹3.22 Cr | ₹3.2 Cr | ₹3.14 Cr | ₹3.3 Cr |
| Depreciation & Amortisation | ₹2.79 Cr | ₹2.69 Cr | ₹2.7 Cr | ₹2.69 Cr | ₹2.84 Cr | ₹2.58 Cr | ₹2.55 Cr | ₹2.6 Cr | ₹2.38 Cr | ₹2.4 Cr | ₹2.38 Cr | ₹2.39 Cr |
| Other Expenses | ₹3.23 Cr | ₹76 Lakh | ₹11.33 Cr | ₹13.62 Cr | ₹9.67 Cr | ₹19.11 Cr | ₹12 Cr | ₹18.06 Cr | ₹22.44 Cr | ₹25.69 Cr | ₹30.4 Cr | ₹23.57 Cr |
| Total Expenses | ₹12.24 Cr | ₹10.6 Cr | ₹60.6 Cr | ₹140.62 Cr | ₹125.03 Cr | ₹189.18 Cr | ₹123.42 Cr | ₹110.51 Cr | ₹132.86 Cr | ₹156.83 Cr | ₹153.52 Cr | ₹112.21 Cr |
| Profit Before Exceptional Items & Tax | -₹27 Lakh | -₹8.4 Cr | ₹5.13 Cr | -₹12.94 Cr | -₹8.09 Cr | ₹4.64 Cr | ₹10 Lakh | ₹20 Lakh | -₹3.33 Cr | ₹17 Lakh | ₹12 Lakh | ₹10 Lakh |
| Exceptional Items | ₹0 | ₹16.09 Cr | ₹0 | ₹0 | ₹0 | -₹4.16 Cr | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | -₹27 Lakh | ₹7.69 Cr | ₹5.13 Cr | -₹12.94 Cr | -₹8.09 Cr | ₹48 Lakh | ₹10 Lakh | ₹20 Lakh | -₹3.33 Cr | ₹17 Lakh | ₹12 Lakh | ₹10 Lakh |
| Total Tax Expense | ₹75 Lakh | ₹1.07 Cr | ₹1.4 Cr | -₹3.26 Cr | -₹2.12 Cr | ₹1.16 Cr | ₹4 Lakh | ₹4 Lakh | -₹85 Lakh | ₹3 Lakh | ₹2 Lakh | ₹22 Lakh |
| Net Profit | -₹1.02 Cr | ₹6.62 Cr | ₹3.73 Cr | -₹9.68 Cr | -₹5.97 Cr | -₹68 Lakh | ₹6 Lakh | ₹16 Lakh | -₹2.48 Cr | ₹14 Lakh | ₹10 Lakh | -₹12 Lakh |
| Other Comprehensive Income | ₹18 Lakh | ₹1 Lakh | ₹3 Lakh | ₹3 Lakh | ₹10 Lakh | ₹1 Lakh | ₹0 | ₹1 Lakh | ₹4 Lakh | ₹3 Lakh | ₹4 Lakh | ₹6 Lakh |
| Total Comprehensive Income | -₹84 Lakh | ₹6.63 Cr | ₹3.76 Cr | -₹9.65 Cr | -₹5.87 Cr | -₹67 Lakh | ₹6 Lakh | ₹17 Lakh | -₹2.44 Cr | ₹17 Lakh | ₹14 Lakh | -₹6 Lakh |
| EBITDA (computed) | ₹7.09 Cr | -₹4 Lakh | ₹12.97 Cr | -₹5.32 Cr | -₹15 Lakh | ₹11.89 Cr | ₹5.87 Cr | ₹5.98 Cr | ₹2.27 Cr | ₹5.77 Cr | ₹5.64 Cr | ₹5.79 Cr |
| Basic EPS | ₹-0.07 | ₹0.68 | ₹0.44 | ₹-1.14 | ₹-0.70 | ₹-0.08 | ₹0.01 | ₹0.02 | ₹-0.29 | ₹0.02 | ₹0.01 | ₹-0.01 |
| Diluted EPS | ₹-0.07 | ₹0.68 | ₹0.44 | ₹-1.14 | ₹-0.70 | ₹-0.08 | ₹0.01 | ₹0.02 | ₹-0.29 | ₹0.02 | ₹0.01 | ₹-0.01 |
Shareholding Pattern of S A L Steel Limited
As per the shareholding pattern filed with NSE for the quarter ended Mar 2026, promoters hold 70.98%, foreign institutional investors hold 0.00%, retail and other public shareholders hold 29.01% of S A L Steel Limited. The company had 55,132 shareholders on record.
| Mar 2026 | Feb 2026 | Dec 2025 | Oct 2025 | Sep 2025 | Jun 2025 | |
|---|---|---|---|---|---|---|
| Promoters | 70.98% | 70.98% | 61.47% | 41.22% | 50.56% | 50.56% |
| Public | 29.02% | 29.02% | 38.53% | 58.78% | 49.44% | 49.44% |
| Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 70.98% | 50.56% | 50.56% | 50.56% | 50.56% | 50.56% | 50.56% | 50.56% | 50.56% | 50.56% | 50.56% |
| Public | 29.02% | 49.44% | 49.44% | 49.44% | 49.44% | 49.44% | 49.44% | 49.44% | 49.44% | 49.44% | 49.44% |
| Promoter change (YoY, %pts) | +20.42 | +0.00 | +0.00 | +0.00 | +0.00 | +0.00 | +0.00 | +0.00 | +0.00 | +0.00 | - |
Board & Governance of S A L Steel Limited
As per the corporate governance filing with NSE for the quarter ended 31-MAR-2026, the board of S A L Steel Limited has 9 directors - 4 independent and 4 executive. The board is chaired by MAHESH KUMAR AGARWAL.
| Director | Position | On board since | Listed boards |
|---|---|---|---|
| MAHESH KUMAR AGARWAL | Executive Director · Chairperson | 2025-12-23 | 1 |
| KAUSTUBH AGARWAL | Executive Director | 2025-12-23 | 1 |
| BIPINBHAI AMULAKHBHAI GOSALIA | Non-Executive - Independent Director | 2024-02-24 | 2 |
| MITESH VASANTBHAI JARIWALA | Non-Executive - Independent Director | 2024-02-24 | 3 |
| HIREN SHIRISHCHANDRA MAHADEVIA | Non-Executive - Independent Director | 2025-12-23 | 2 |
| NIPA JAIRAJ SHAH | Non-Executive - Independent Director | 2024-11-12 | 2 |
| RAJESH MANGAL | Non-Executive - Non Independent Director | 2026-02-14 | 0 |
| ANIL KUMAR SINGH | Executive Director | 2026-02-14 | 0 |
| BABULAL M SHINGAL | Executive Director | 2006-05-16 | 1 |
| Committee | Members |
|---|---|
| Audit Committee | MITESH VASANTBHAI JARIWALA (Chairperson), BIPINBHAI AMULAKHBHAI GOSALIA, HIREN SHIRISHCHANDRA MAHADEVIA |
| Nomination and remuneration committee | MITESH VASANTBHAI JARIWALA (Chairperson), BIPINBHAI AMULAKHBHAI GOSALIA, HIREN SHIRISHCHANDRA MAHADEVIA |
| Stakeholders Relationship Committee | MITESH VASANTBHAI JARIWALA (Chairperson), BIPINBHAI AMULAKHBHAI GOSALIA, NIPA JAIRAJ SHAH |
| Corporate Social Responsibility Committee | MITESH VASANTBHAI JARIWALA (Chairperson), HIREN SHIRISHCHANDRA MAHADEVIA, MAHESH KUMAR AGARWAL |
| Non-Executive - Independent Director | MITESH VASANTBHAI JARIWALA (Chairperson), BIPINBHAI AMULAKHBHAI GOSALIA, NIPA JAIRAJ SHAH |
Charges & Borrowings of S A L Steel Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 28 Mar 2026 | Yes Bank Limited | ₹150 Cr | Open |
| 27 Mar 2026 | Others | ₹50 Cr | Open |
| 24 Mar 2026 | Hdfc Bank Limited | ₹43.18 Lakh | Open |
| 05 Sep 2024 | Others | ₹49 Cr | Open |
| 16 Sep 2022 | Others | ₹125 Cr | Open |
Total charge records: 18 View all charges
Employees and EPFO Compliance at S A L Steel Limited
S A L Steel Limited has a workforce of 343 employees as of Apr 07, 2024.
Employee and EPFO history for S A L Steel Limited
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GST Compliance of S A L Steel Limited
GST registrations and filing compliance for S A L Steel Limited
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Credit Ratings, Litigation & Regulatory Alerts for S A L Steel Limited
Credit ratings, litigation, and regulatory alerts for S A L Steel Limited
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MSME Payment Delays by S A L Steel Limited
MSME payment history for S A L Steel Limited
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Subsidiaries & Group Companies of S A L Steel Limited
Corporate group structure for S A L Steel Limited
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MCA Filings & Documents of S A L Steel Limited
MCA filings and documents for S A L Steel Limited
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Recent Activity on S A L Steel Limited
Recent News on S A L Steel Limited
Frequently Asked Questions about S A L Steel Limited
S A L Steel Limited is an active public limited company in the metals and minerals sector based in Daskroi, Gujarat, India. It was incorporated on 06 November 2003 (23+ years old) and is registered under CIN L29199GJ2003PLC043148. Listed on BSE: 532604 and NSE: BE : SALSTEEL. The company has 343 employees.
S A L Steel Limited reported revenue of ₹207.4 Cr for FY 2026 (down 61.88% YoY) based on standalone NSE filings.
The current directors of S A L Steel Limited are:
- Nipa Jairaj Shah - Director
- Bipinbhai Amulakhbhai Gosalia - Director
- Rajesh Mangal - Director
- Anil Kumar Singh - Whole-Time Director
- Mahesh Kumar Agarwal - Managing Director
- Kaustubh Agarwal - Managing Director
- Hiren Shirishchandra Mahadevia - Director
The primary industry of S A L Steel Limited is metals and minerals. The company specifically operates in steel manufacturing and processing. The company is currently active in this sector.
Yes. S A L Steel Limited is listed on both BSE (code: 532604) and NSE (symbol: BE : SALSTEEL).
S A L Steel Limited can be reached at the registered office: 604 Zion Z1 Near Avalon Hotel, Sindhubhawan Road, Daskroi, Gujarat, India – 380059, or through the website salsteel.co.in.