S.A.L. Steel Limited
All news and filings related to S.A.L. Steel Limited.
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SAL Steel Secures ₹124 Crore Loan Facility from Kotak Mahindra Bank
S.A.L. Steel Limited has secured additional term loan facilities of ₹75 Crore and renewed working capital facilities of ₹49 Crore, totaling ₹124 Crore from Kotak Mahindra Bank. The loan, sanctioned on 29.09.2026, has a 10% interest rate and a 60-month repayment term. Funds will be used for part repayment of ICDs.
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SAL Steel Secures ₹124 Crore Loan Facility from Kotak Mahindra Bank
S.A.L. Steel Limited has secured an additional term loan facility of ₹75 crore and renewed working capital facilities of ₹49 crore, totaling ₹124 crore from Kotak Mahindra Bank. The loan has a 10% interest rate and a 60-month repayment period, intended for repaying ICDs of AIA Engineering Limited.
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SAL Steel Secures ₹75 Crore Term Loan Facility from Kotak Mahindra Bank
S.A.L. Steel Limited's Board approved availing an additional Term Loan facility of ₹75 Crore from Kotak Mahindra Bank. This is alongside the renewal of ₹49 Crore working capital facilities. The funds will be used for part repayment of ICDs to AIA Engineering Limited.
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SAL Steel Limited: 23rd AGM Proceedings Conclude; Scrutinizer Report & Voting Results Submitted
S.A.L. Steel Limited held its 23rd AGM on September 25, 2026. The company submitted the Scrutinizer's Report and Voting Results. Resolutions concerning financial statements, director re-appointment, auditor remuneration, and a new director were passed. Remote e-voting occurred from September 22-24, 2026.
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SAL Steel Limited Holds 23rd AGM on Sep 25, 2026, Discusses FY26 Performance
S.A.L. Steel Limited held its 23rd AGM on September 25, 2026, via video conference. The meeting reviewed the FY2026 financial performance and outlook for FY2027. Key resolutions included adopting FY2026 financial statements and re-appointing a director.
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S.A.L. Steel Limited: Trading Window Closed from Oct 1, 2026 for Q2 FY27 Results
S.A.L. Steel Limited will close its trading window from October 1, 2026. This is in preparation for the announcement of financial results for the quarter and half-year ending September 30, 2026. The window will reopen 48 hours after the results are declared.
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SAL Steel Announces 23rd AGM on September 25, 2026, Via VC/OAVM
S.A.L. Steel Limited will hold its 23rd AGM on September 25, 2026, via VC/OAVM. The cut-off date for voting rights is September 18, 2026. Remote e-voting is open from September 22 to September 24, 2026. The AGM notice and annual report are available online.
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SAL Steel Limited Schedules 23rd AGM for September 25, 2026
S.A.L. Steel Limited will hold its 23rd Annual General Meeting on September 25, 2026, via Video Conference. Key agenda items include adopting FY26 financial statements, re-appointing Shri Mahesh Kumar Agarwal as Director, ratifying Cost Auditor remuneration for FY27, and approving Mrs. Monika Goyal as Independent Director. Remote e-voting is open from September 22-24, 2026.
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SAL Steel Ltd. Publishes Q1 FY27 Financial Results in Newspaper Ads
S.A.L. Steel Limited published its Un-Audited Standalone Financial Results for the quarter ended June 30, 2026. The advertisements appeared in "The Indian Express" and "Financial Express" on August 15, 2026. This action complies with SEBI regulations.
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SAL Steel Appoints Monika Goyal as Independent Woman Director
S.A.L. Steel Limited appointed Mrs. Monika Goyal as an Additional Director, Non-Executive, Independent Woman Director. The appointment is effective August 14, 2026, for a five-year term, subject to shareholder approval. Mrs. Goyal is a law graduate and Fellow Company Secretary with over 12 years of experience.
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SAL Steel Appoints Monika Goyal as Independent Director; Schedules AGM for Sept 25
S.A.L. Steel Limited's Board approved unaudited standalone financial results for Q1FY27. Mrs. Monika Goyal was appointed as an Additional Director (Non-Executive, Independent Woman Director) for 5 years. The 23rd AGM is scheduled for September 25, 2026.
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SAL Steel Open Offer Extended by 3 Months to Oct 13, 2026
SAL Steel Limited's open offer, triggered by Sree Metaliks Limited, has been extended. The acquisition of 1,95,00,000 shares was delayed due to unforeseen circumstances. SEBI has granted an extension until October 13, 2026, for the completion of the underlying transaction. The open offer is for up to 3,76,39,342 equity shares at ₹25 each.
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SAL Steel Announces Trading Window Closure From July 1, 2026
S.A.L. Steel Limited will close its trading window from July 01, 2026. This closure is in effect until 48 hours after the announcement of Q1 FY27 financial results. Designated persons and their relatives are restricted from trading securities during this period.
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SAL Steel Publishes Audited Standalone Financial Results for Q4 FY26
S.A.L. Steel Limited announced the publication of its audited standalone financial results for the quarter ending March 31, 2026. The results were advertised on May 30, 2026, in "The Indian Express" and "Financial Express" as per SEBI regulations.
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SAL Steel: No Deviation in Use of Equity Warrant Proceeds for Q4 FY26
S.A.L. Steel Limited confirms no deviation in the utilization of ₹48.26 crore raised from equity warrants. Funds were allocated to working capital, pellet plant, furnace upgradation, infrastructure, and corporate purposes. The Audit Committee approved the statement for the quarter ended March 31, 2026.
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SAL Steel Secures ₹50 Crore Term Loan from Axis Finance
S.A.L. Steel Limited secured a ₹50 crore term loan from Axis Finance Limited, sanctioned on May 26, 2026. The funds will repay AIA Engineering Limited's ICDs. The loan is secured by company assets and personal/corporate guarantees, with a 5-year repayment plan in quarterly installments.
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SAL Steel Appoints Ashish Bhavsar & Associates as Cost Auditor for FY27
S.A.L. Steel Limited appointed M/s. Ashish Bhavsar & Associates as Cost Auditor for FY2026-27. The appointment is subject to shareholder approval at the ensuing General Meeting. The firm is based in Ahmedabad and offers services in cost audit and consultancy.
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S.A.L. Steel Appoints M/s. NRPS & Associates as Internal Auditor for FY27
S.A.L. Steel Limited appointed M/s. NRPS & Associates LLP as Internal Auditor for FY2026-27. The appointment was made on May 29, 2026, following the recommendation of the Audit Committee.
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SAL Steel Changes Registered Office Within Ahmedabad
S.A.L. Steel Limited is changing its registered office within Ahmedabad. The new address will be 604, Zion Z1, Near Avalon Hotel, Sindhubhawan Road, Bodakdev, Ahmedabad-380059, Gujarat. This decision was approved by the Board of Directors.
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SAL Steel Board Approves FY26 Audited Results, ₹50 Cr Term Loan, and Office Relocation
S.A.L. Steel's Board approved FY26 audited standalone results. They also approved a ₹50 crore term loan from Axis Finance Limited and the relocation of their registered office. The company will resume plant operations after modernization and appointed new internal and cost auditors for FY27.
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SAL Steel Board Approves FY26 Audited Results, ₹50 Cr Term Loan, and Office Shift
S.A.L. Steel Limited's Board approved audited standalone financial results for FY26. The company will avail a ₹50 crore term loan from Axis Finance Limited for ICD repayment. The registered office will be shifted within Ahmedabad. Internal and Cost Auditors were appointed for FY27. Plant operations have resumed after modernization.
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SAL Steel Limited Reconstitutes Audit, Nomination & Remuneration, Stakeholders’ Relationship, and CSR Committees
SAL Steel Limited reconstituted its Audit, Nomination & Remuneration, Stakeholders’ Relationship, and CSR Committees, effective 18 May 2026, following the resignation of Independent Director Shri. Mitesh Vasantbhai Jariwala. Shri Hiren S Mahadevia chairs all four committees. Other members include Shri Bipinbhai A. Gosalia and Shri Rajesh Mangal in Audit and Nomination & Remuneration Committees. Smt. Nipa Jairaj Shah is a member of the Stakeholders’ Relationship Committee, and Shri Mahesh Kumar Agarwal is a member of the CSR Committee.
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SAL Steel: Postal Ballot Results - All Resolutions Passed on 17 May 2026
S.A.L. Steel Limited announced that all resolutions in the postal ballot notice dated 28 March 2026 were passed with the required majority on 17 May 2026. The e-voting period was from 18 April 2026 to 17 May 2026. 4,36,63,312 votes were in favor and 3,846 votes were against the resolution regarding borrowing limits.
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Mitesh V Jariwala Resigns as Independent Director of SAL Steel Limited
Shri Mitesh V Jariwala resigned as Independent Director of SAL Steel Limited. The resignation is effective May 16, 2026, due to personal reasons. He previously chaired key board committees.
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SAL Steel Dispatches Postal Ballot Notice, E-Voting Period Opens April 18
S.A.L. Steel Limited has dispatched its Postal Ballot Notice and commenced remote e-voting. The voting period runs from April 18, 2026, to May 17, 2026. Members will vote on approving overall borrowing limits and asset mortgages. The cut-off date for voting rights was March 27, 2026.
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SAL Steel Limited Responds to Price Movement, Cites Open Offer Acquisition and Share Allotments
S.A.L. Steel Limited responded to a price movement query from exchanges. The company cited the completed Open Offer acquisition by Sree Metaliks Limited in December 2025 and subsequent share allotments to the promoter. These include 1.92 crore shares on Oct 30, 2025, 3.57 crore shares on Feb 14, 2026, and 48 lakh shares on Dec 28, 2026.
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S.A.L. Steel Seeks Shareholder Approval for Borrowing Limit Up to ₹2,000 Crore
S.A.L. Steel Limited is seeking shareholder approval via postal ballot to raise its borrowing limit to ₹2,000 Crores. E-voting is open from April 18 to May 17, 2026. Results will be announced by May 19, 2026. This is to comply with Companies Act and SEBI regulations.
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SAL Steel Ltd. Submits SEBI Compliance Certificate for Q4 FY26
S.A.L. Steel Limited submitted a compliance certificate for the quarter and year ended March 31, 2026. The certificate, issued by KFin Technologies Limited, confirms dematerialization/rematerialization details were furnished to stock exchanges as per SEBI regulations.
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SAL Steel Limited: Chief Financial Officer Shri Babulal M Singhal Resigns
Shri Babulal M Singhal has resigned as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of S.A.L. Steel Limited. His resignation is effective from the close of business hours on April 06, 2026, due to personal reasons. The company has accepted the resignation.
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S.A.L. Steel Secures ₹150 Crore Working Capital Loan from Yes Bank
S.A.L. Steel Limited secured a ₹150 crore working capital loan from Yes Bank Limited via a Deed of Hypothecation executed on March 28, 2026. The loan is secured by the company's current assets and movable fixed assets, with personal and corporate guarantees also provided.
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SAL Steel Board Approves ₹150 Crore Working Capital Facility, Seeks Shareholder Nod for ₹2000 Crore Borrowing Limit
S.A.L. Steel's Board approved a ₹150 crore working capital facility from YES Bank, secured by company assets and guarantees. Shareholders will be asked to approve an enhanced borrowing limit of up to ₹2,000 crore. The company also approved a postal ballot notice, with March 27, 2026, as the cut-off date.
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SAL Steel: Trading Window Closed from April 1 for Q4/FY26 Results
S.A.L. Steel Limited will close its trading window from April 01, 2026. The window will reopen 48 hours after the announcement of financial results for the fourth quarter and financial year ending March 31, 2026. The exact date for the board meeting to approve results is yet to be announced.
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SAL Steel Limited Shareholders Approve All Resolutions Via Postal Ballot
S.A.L. Steel Limited shareholders approved all resolutions via postal ballot. The remote e-voting concluded on March 22, 2026. Key appointments including MD and directors were confirmed with over 99.99% approval.
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SAL Steel clarifies 'Segment details not submitted' query for Q3 FY26 results
S.A.L. Steel Limited clarified that its operations fall under a single segment, 'FERRO ALLOYS & SPONGE IRON,' making Ind AS-108 segment reporting inapplicable. This was in response to a query from the NSE regarding the financial results for the quarter and nine months ended December 31, 2025.
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SAL Steel Files Newspaper Ad for Postal Ballot Notice Dispatch Completion
SAL Steel Limited has completed the dispatch of its postal ballot notice and remote e-voting information. Newspaper advertisements confirming this have been submitted to the BSE and NSE as per SEBI regulations.
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SAL Steel Seeks Shareholder Approval for Key Management Appointments via Postal Ballot
S.A.L. Steel Limited is conducting a postal ballot to approve key management appointments. This includes Mahesh Kumar Agarwal as MD & Chairperson, Kaustubh Agarwal as MD, Hiren S. Mahadevia as Independent Director, Anil Kumar Singh as Whole Time Director, and Rajesh Mangal as Non-Executive Non-Independent Director. E-voting is open from February 21 to March 22, 2026.
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SAL Steel Fined ₹4.4 Lakh + GST Each by NSE & BSE for ICDR Non-Compliance
S.A.L. Steel Limited received penalties of ₹4,40,000 plus 18% GST each from NSE and BSE. The fines are for non-compliance with ICDR Regulations regarding delayed trading approval applications. The company stated the penalties will not impact its operations.
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Sree Metaliks Acquires 24.69% Stake in SAL Steel via Warrant Conversion
Sree Metaliks Limited has acquired 3,57,50,000 equity shares, representing 24.69% of SAL Steel Limited's expanded share capital. This acquisition resulted from the conversion of 3,57,50,000 warrants. The disclosure was made on February 17th, 2026, under SEBI regulations.
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SAL Steel Allots 3.57 Cr Shares to Sree Metaliks on Warrant Conversion
S.A.L. Steel Limited approved the allotment of 3,57,50,000 equity shares to Sree Metaliks Limited upon warrant conversion. The issue price was ₹18 per share. This increases the company's equity share capital to ₹144.77 crore. Sree Metaliks Limited's shareholding rose to 57.51%.
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S.A.L. Steel Appoints Mr. Devilal J Shah as Company Secretary and Compliance Officer
S.A.L. Steel Limited appointed Mr. Devilal J Shah as Company Secretary and Compliance Officer, effective February 14, 2026. Mr. Shah is an Associate Member of ICSI with over 7 years of experience and a member of ICAI since May 2023.
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SAL Steel Publishes Q3 FY26 Financial Results in Newspapers
S.A.L. Steel Limited published its un-audited standalone financial results for the quarter and nine months ended December 31, 2025. The results were advertised in "The Indian Express" and "Financial Express" on February 16, 2026, as per SEBI regulations.
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Shri Babulal M Singhal resigns as Whole Time Director of SAL Steel
Shri Babulal M Singhal has resigned as Whole Time Director of S.A.L. Steel Limited. The resignation is effective February 14th, 2026. He will continue as the Chief Financial Officer (CFO) of the company.
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S.A.L. Steel Ltd.: Mr. Devilal J Shah Resigns as Company Secretary & Compliance Officer
Mr. Devilal J Shah has resigned as Company Secretary and Compliance Officer of S.A.L. Steel Limited. His resignation is effective February 14, 2026. Mr. Shah possesses over 7 years of experience in corporate secretarial and company law.
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SAL Steel Reports No Deviation in Fund Utilization for Q3 FY26
S.A.L. Steel Limited reported no deviation in the utilization of funds raised from preferential issues for the quarter ended December 31, 2025. This covers funds raised via warrants converted into equity shares and convertible equity warrants, totaling ₹9 crore and ₹94.74 crore respectively. Funds were used for working capital, plant facilities, and general corporate purposes.
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Shri Babulal M Singhal Resigns as Whole Time Director of S.A.L. Steel Limited
Shri Babulal M Singhal has resigned as Whole Time Director of S.A.L. Steel Limited, effective February 14th, 2026. He will continue as CFO. The resignation is due to personal reasons.
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S.A.L. Steel Limited: Company Secretary & Compliance Officer Resigns
Ms. Radhika P Soni has resigned as Company Secretary and Compliance Officer of S.A.L. Steel Limited. Her resignation is effective from the conclusion of the Board Meeting on February 14, 2026. She is leaving to pursue other career opportunities.
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S.A.L. Steel Limited: Mr. Devilal J Shah Appointed Company Secretary & Compliance Officer
S.A.L. Steel Limited appoints Mr. Devilal J Shah as Company Secretary and Compliance Officer, effective February 14, 2026. Mr. Shah has over 7 years of experience in secretarial and company law, and is also a member of ICAI.
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S.A.L. Steel Appoints Rajesh Mangal as Additional Non-Executive Director
S.A.L. Steel Limited appointed Shri Rajesh Mangal as an Additional Director, designated as Non-Executive Non-Independent Director, effective February 14, 2026. Mangal is a Chartered Accountant with over 28 years of experience in finance and operations. His appointment is subject to shareholder approval.
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S.A.L. Steel Appoints Anil Kumar Singh as Additional Whole-Time Director
S.A.L. Steel Limited appointed Shri Anil Kumar Singh as Additional Whole-Time Director. The appointment is effective February 14, 2026, for three years, subject to shareholder approval. Singh has over 35 years of experience in the steel industry.
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S.A.L. Steel Appoints Kaustubh Agarwal as Additional Managing Director
S.A.L. Steel Limited's Board has approved the appointment of Shri Kaustubh Agarwal as Additional Managing Director, effective February 14, 2026. Agarwal, son of Director Mahesh Kumar Agarwal, brings over five years of experience in the mining and steel sectors. His appointment is subject to shareholder approval.
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