SAIL Share Price in Focus; Company Plans Over ₹35,000 Crore Capex

Steel Authority of India Limited remained in focus after the company outlined an aggressive capital expenditure roadmap aimed at expanding production capacity across its major steel manufacturing facilities. 

SAIL Preparing Large Multi-Year Expansion Push 

The state-run steel producer plans to invest more than ₹35,000 crore during FY27 and FY28 as part of expansion projects at its IISCO, Bokaro and Bhilai steel plants. 

Management indicated that capital expenditure for FY27 is expected to reach around ₹15,000 crore, while spending during FY28 is projected to exceed ₹20,000 crore as execution activity gathers pace. 

Ashok Panda, Chairman and Managing Director of SAIL, said the company expects investments to continue rising as expansion work progresses. 

“The capex for FY27 is ₹15,000 crore, which is going to go up as we progress in our expansion,” Panda said. 

He added that annual investments could remain in the ₹20,000 crore to ₹25,000 crore range in the years following FY28 as the projects move deeper into execution. 

IISCO, Bokaro and Bhilai Projects Form Core of Expansion Plan 

A substantial portion of the upcoming investment pipeline will be directed towards the expansion of the IISCO Steel Plant in West Bengal. 

According to management, major project packages linked to IISCO have already been tendered and finalised. The proposed expansion at the plant is expected to involve investment of around ₹35,000 crore and add nearly 4.5 million tonnes of additional capacity. 

The company is also progressing with expansion plans at Bokaro Steel Plant, where investment is estimated at around ₹18,000 crore for capacity addition of nearly 3 million tonnes. 

At Bhilai Steel Plant, the proposed expansion project is currently under clearance and is expected to involve around ₹30,000 crore of investment with planned capacity enhancement of roughly 3.5 million tonnes. 

Capex Intensity Expected to Rise After FY28 

Management indicated that spending intensity is likely to accelerate further once groundwork and execution activity increase across the three projects.

“As the groundwork starts over there, the expenditures will start increasing from FY28 onwards,” Panda said while referring to the IISCO expansion programme. 

For FY26, SAIL had originally targeted capital expenditure of ₹10,000 crore but ended the year with actual spending of around ₹9,100 crore. 

Company To Rely on Internal Accruals 

SAIL said it intends to fund a substantial portion of the planned investments through internal accruals while continuing to focus on profitability improvement and cost reduction measures. 

The expansion projects form part of the company’s broader long-term strategy to increase steelmaking capacity and strengthen operational scale across key manufacturing locations. 

Read More: Sensex Weekly Expiry: SAIL and Kaynes Technology India Under F&O Ban on May 21, 2026! 

SAIL Share Price Performance 

As of 22 May 2026, at 9:33 AM, SAIL share price is trading at ₹197.10 per share, reflecting a surge of 0.29% from the previous closing price. 

Conclusion 

SAIL’s upcoming investment cycle signals one of the company’s largest capacity expansion phases in recent years, with significant spending planned across IISCO, Bokaro and Bhilai as execution activity accelerates over the coming years. 

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