Guidance ledger · Q4 FY26

Steel Authority of India Ltd SAIL

4 revisions on record · 0 lowered · 4 raised — the strikethrough is what management used to say

mixed guidance posture · shifted across quarters

Holding view → · latest concall · The pulse

↑ raised FY26 sales volume Q1 FY26 → Q4 FY26

~~18.5 million tons~~ → 19.9 million tons (highest ever)

“Company has posted highest ever sales volume at 19.9 million tons”

↑ raised FY27 capex Q1 FY26 → Q4 FY26

~~good jump vs INR7,500 crores~~ → INR15,000 crores

“Guidance for '26 -'27 is INR15,000 crores”

↑ raised FY27 sales volume target Q2 FY26 → Q4 FY26

~~5% to 7% growth vs FY26~~ → 22 million tons (+10% vs FY26 19.9 mt)

“this year, we're expecting 22 million tons”

↑ raised Q1 coking coal cost impact Q3 FY26 → Q4 FY26

~~Rs.18,500 Jan moving to Rs.19,700 Feb~~ → INR21,000 Apr / INR21,800 May; cost impact INR1,400-1,500/ton

“the cost impact will be around INR1,400 to INR1,500 per ton”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.