Outcome of Board Meeting

24'*^ July, 2026 No.CA-17(44)/2026-27 #TSAIL The Assistant. Vice President The General Manager( MO) National Stock Exchange of India Ltd. Bombay Stock Exchange Through Neaps Sub: Unaudited Financial Results for the Quarter ended SO"' June,2 026 Dear Sir, The Board of Directors at its meeting held today i.e. 24^'' July, 2026, inter-alia, considered and approved the Unaudited Standalone and Consolidated Financial Results for the Quarter ended 30"^ June, 2026. A copy of the following-is enclosed pursuant to SEBl( LODR)R egulations, 2015; • Unaudited Standalone and Consolidated Financial Results for the Quarter ended 30 June, 2026 along with Segment Information. • Limited Review Report on Standalone and Consolidated Financial Results for the Quarter ended 30"^ June, 2026. • S ecurity cover available in case of non-convertible debt securities. • P ress Release. The Board Meeting commenced at 1600 hours and concluded at 1700 hours. The above are also being uploaded on the website of the Company at www.sail.co.ln. Thanking you. Yours faithfully. For Steel Authority of India Limited (M B Balakri^nan) ED( F&A)& Company Secretary End. As above. ^ ^ 110003, : 011-24367481-86 ^: 011-24367015 ^aRTT?^: www.sail.co.in Steel Authority of India Limited, Ispat Bhawan, Lodhi Road. New Delhi 110003, Phone: 011-24367481-86 Fax: 011-2436 7015 Website: www.sail.co.in SAIL PAN No. AAACS7062F SAIL Corporate Identity Number: L27109DL1973GOi006454 There's a little bit of SAIL in everybody's life M/s J N Gupta & M/s S P A R K & M/s Vinod Singhal & Co. M/s APT & Co. LLP Co. LLP Associates LLP LLP Chartered Chartered Chartered Chartered Accountants, Accountants, Accountants, Accountants, A- 301 Shree Nand Rani 308, 3rd floor, E-732, Nakul Path, 520, 5''' Floor Golden Niwas, Opp Ara Mills, Kanchanjunga Building Opposite Jyoti Trade Centre Near Veer Kunwar Singh Fire Brigade Lane, Nagar Thana, Dronacharya Public Colony, Airport Road, Barakhamba, New Lalkothi, Jaipur- School, New Rajendra Hinoo, Ranchi-834002 Delhi, Delhi - 110001 302015 Nagar, Raipur 492001 (Rajasthan) (CG) Independent Auditor's Limited Review Report on Standalone Unaudited Quarterly Financial Results of the Company pursuant to the Regulation 33, Regulation 52 and Regulation 54 read with Regulation 63 of the SEBI( Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of Steel Authority of India Limited 1. We have reviewed the accompanying statement of standalone unaudited financial results ('the Statement') of Steel Authority of India Limited ('the Company') for the quarter ended 30 June 2026 being submitted by the Company pursuant to the requirements of Regulation 33, Regulation 52 and Regulation 54 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)( 'Listing Regulations'). 2. The Statement, which is the responsibility of the Company's management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting ('Ind AS 34'), prescribed under section 133 of the Companies Act, 2013 ('the Act'), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33, Regulation 52 and Regulation 54 read with Regulation 63 oft he Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 0053130/ C400311 00146210/ N500088 4. Based on our review conducted as above and the consideration of the review reports of the branch auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33, Regulation 52 and Regulation 54 read with Regulation 63 oft he SEBI( Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. We draw attention to the following: (a) Note 4 to the accompanying statement, which describes that the revenue from operations include sales to Government agencies aggregating to ? 2,138.77 crore for the quarter ended 30 June 2026 (cumulative upto 30 June 2026 of? 20,561.95 crore) which is recognized based on provisional prices as per the terms of sales with such Government agencies. (b) Note 7 to the accompanying statement, regarding suspension of certain officers and employees of the Company basis directions from the Ministry of Steel, Government of India and related investigation to be conducted by external investigative agencies on certain matters relating to policy/pricing decisions of the Company. In view of the management, basis their internal assessment, the matter is not likely to have a material impact on the operations oft he Company and/or these financial statements. (c) The composition of the Board of Directors of the Company does not have the requisite number of Independent Directors and Non-Executive Directors on the Board. Also, the company does not have a Woman Director on its Board. Consequently, the composition of the Board of Directors and certain Committees of the Board, including the Audit Committee and the Nomination and Remuneration Committee, was not in compliance with the requirements of Sections 149, 177 and 178 of the Act and Regulations 17, 18 and 19 read with Schedule II of the SEBI LODR Regulations. The financial results for the quarter ended on 30 June 2026 as stated in Note 1 oft he unaudited standalone financial results have therefore been approved by the Board of Directors on the recommendation of the Audit Committee as required in terms oft he Act and SEBI Regulation. (d) Note 6 (I)( i) to the accompanying statement has considered ?144.01 crore as exceptional item relating to Voluntary Retirement of Employees. Our conclusion is not modified in respect of above matters. 005313C/ 0V\\ 0014621 N5000B8 C400311 ^AccoC edAcco 6. We did not review the financial results of 09 (nine) branches/units/marketing regions included in the Unaudited Standalone Financial Statement, where such financial information reflects total revenues of ?10,305.93 crore, total net profit after tax of? 766.24 crore, and total comprehensive income of? 655.18 crore for the quarter ended 30 June 2026 as considered in the Statement. These financial results have been reviewed by the branch auditors, whose reports have been furnished to us by the management, and our conclusion, in so far as it relates to the amounts and disclosures included in respect of these branches/units/marketing regions, is based solely on the review report of such branch auditors. Our conclusion is not modified in respect of this matter. For J N Gupta & Co. LLP For S P A R K & A [Showing first 8,000 characters — download PDF for full document]