Steel Authority of India share price
NSE: SAILBSE: 500113Ferrous MetalsMid Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹171.20.
28 Oct: open ₹169.00, high ₹169.30, low ₹161.00
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹66,915 Cr153rd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 11.94
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 1.07
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 1.45%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 9.3%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 10.6%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026.
- 0.33
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 2,41,46,69739.7% delivered
About Steel Authority of India
Steel Authority of India Limited (SAIL) is a public sector steel maker in India with Maharatna status, which gives a state-owned company more freedom to invest.1 It makes flat and long products, from hot-rolled and cold-rolled coils and plates to TMT bars (reinforcing bars for concrete), wire rods and structural sections, plus stainless steel.234 Its steel goes into railways, defence, power, roads, bridges and housing across the country.5
It runs integrated steel plants at Bhilai, Durgapur, Rourkela, Bokaro and Burnpur, special steel plants at Durgapur, Salem and Bhadravati, and a ferro alloy plant at Chandrapur.67 It mines its own iron ore, limestone, dolomite and some coal, from groups of mines in Jharkhand and Odisha and a group serving its Bhilai plant.86 It has international offices in Dubai and Mozambique.9 Its Research and Development Centre for Iron & Steel in Ranchi developed 28 new steel products in the year to Mar 2026.1011 It had 49,752 employees on 1 Apr 2026.12
It was incorporated in 1973.13 Its subsidiaries are SAIL Refractory Company Limited and Chhattisgarh Mega Steel Limited, and it has joint ventures in power generation, rail wagons, slag cement and overseas coking coal supplies.149
The Government of India is the promoter and held 65.00% of the shares on 31 Mar 2026.15 Its shares are listed on the NSE and BSE, and it is also listed on the London Stock Exchange.6
Steel Authority of India key points
Results
- In the quarter to Jun 2026, revenue from operations was ₹26,246 crore, EBITDA (profit before interest, tax, depreciation and amortisation) ₹4,356 crore against ₹2,925 crore a year earlier, and profit after tax ₹1,636 crore against ₹685 crore.1617
- SAIL's EBITDA per tonne was ₹10,464 in the quarter to Jun 2026, above the ₹10,000 mark, and the EBITDA margin was 16.7% on turnover of ₹26,010 crore.1819
- On a consolidated basis, revenue from operations was ₹1,10,810.84 crore in the year to Mar 2026, against ₹1,02,479.06 crore a year earlier.20
- In the year to Mar 2026, sales turnover ₹1,09,966 crore, EBITDA ₹13,146 crore (margin 11.95% on turnover) and profit after tax ₹3,233 crore as the company presents it, up about 51%.2122
Business segments
- Consolidated sales of products to outside customers by plant, year to Mar 2026 (₹ crore)2324Each plant is a reporting segment.
Item year to Mar 2026 Bhilai 30,501.79 Rourkela 23,842.73 Bokaro 23,372.31 IISCO, Burnpur 12,669.91 Durgapur 10,902.29 Salem 1,978.88 Alloy Steels, Durgapur 823.86 Visvesvaraya, Bhadravati 184.19 Others 5,689.74 Total 1,09,965.70
Plants and capacity
- SAIL's crude steel production reached 19.43 million tonnes and saleable steel 19.18 million tonnes in the year to Mar 2026, the highest on record.25
- SAIL's crude steel production was 4.8 million tonnes in the quarter to Jun 2026, against 4.9 million tonnes a year earlier, as major repairs at the Burnpur, Durgapur and Bokaro plants were brought forward.26
Mines and raw materials
- SAIL's own mines produced a record 38.07 million tonnes of iron ore in the year to Mar 2026 and met 100% of its iron ore needs.2728
- Most coking coal (used to make coke for blast furnaces) is imported: 2.180 million tonnes came from Indian sources and about 16.50 million tonnes from imports in the year to Mar 2026.29
- SAIL sold 3.013 million tonnes of iron ore in the open market in the year to Mar 2026; iron ore sales were ₹574 crore in the quarter to Jun 2026, against ₹157 crore a year earlier.3031
- A Supreme Court judgment of November 2025 gave Jharkhand 3 months to notify the Saranda Wildlife Sanctuary. As of its annual report of 1 Sep 2026, future operations there depended on it; no outcome is given.32
Customers and partners
- The company has met all of Indian Railways' demand for rails for decades.33
- On a standalone basis, sales to the central government, a group of buyers including Indian Railways, were ₹11,234.33 crore in the year to Mar 2026, against ₹10,357.67 crore a year earlier.34
- SAIL's exports were about 3 lakh tonnes in the year to Mar 2026, up about 162%; the company is turning to Nepal, Bhutan, South-East Asia and Europe.3536
Expansion and capital spending
- The company stated in its annual report for the year to Mar 2026 that it plans to raise crude steel capacity from about 19 to about 35 MTPA (million tonnes a year) by Mar 2031; all 14 technological packages (plant contracts) for Burnpur are awarded.37
- The company stated in its annual report for the year to Mar 2026 that capital spending was ₹9,187 crore that year, with ₹15,000 crore planned for the year to Mar 2027.38
- The company stated in its annual report for the year to Mar 2026 that it plans to expand the Gua iron ore mine from 4 to 10 MTPA and targets February 2027 for a 3.5 MTPA washery at its Tasra coal block.39
- SAIL's total borrowings fell by ₹5,012 crore to ₹31,922 crore in the year to Mar 2026, and the debt-to-equity ratio (borrowings divided by shareholders' funds) was 0.55.40
What the company expects
- On its earnings call of 28 Jul 2026, the company said it is maintaining its full-year volume guidance, expecting growth over the year to Mar 2026, with production in each remaining quarter above a year earlier.4142
- On its earnings call of 28 Jul 2026, the company said it targets iron ore sales of 8 million tonnes in the year to Mar 2027; it holds about 32 million tonnes of sub-grade fines (ore fines of lower iron content).4344
Recent events
- CareEdge revised its outlook on the company's long-term bank facilities rating to Positive from Stable, reaffirmed its other ratings and withdrew its bond rating.4546
- It signed a memorandum of understanding with Bharat Coking Coal Limited to jointly develop and operate its Indikatta Ramnagore coal block and BCCL's East of Damagoria (Kalyaneshwari) block in West Bengal.47
- India Ratings and Research upgraded its long-term issuer rating to IND AA+ with a Stable outlook, from IND AA.48
- The board approved seeking the withdrawal of the Visvesvaraya Iron and Steel Plant and the Alloy Steels Plant from strategic disinvestment (sale of control to a buyer), approved in principle in October 2016.49
Last updated
All 49 sources, each with its page
- 1. Annual report, 1 Sep 2026, page 277
- 2. Annual report, 1 Sep 2026, page 63
- 3. Annual report, 1 Sep 2026, page 38
- 4. Annual report, 1 Sep 2026, page 24
- 5. Annual report, 1 Sep 2026, page 7
- 6. Annual report, 1 Sep 2026, page 216
- 7. Annual report, 1 Sep 2026, page 210
- 8. Annual report, 1 Sep 2026, page 231
- 9. Annual report, 1 Sep 2026, page 40
- 10. Annual report, 1 Sep 2026, page 72
- 11. Annual report, 1 Sep 2026, page 24
- 12. Annual report, 1 Sep 2026, page 30
- 13. Annual report, 1 Sep 2026, page 14
- 14. Annual report, 1 Sep 2026, page 45
- 15. Annual report, 1 Sep 2026, page 210
- 16. Investor presentation, 19 Sep 2026, page 2
- 17. Earnings call, 28 Jul 2026, page 4
- 18. Earnings call, 28 Jul 2026, page 4
- 19. Investor presentation, 19 Sep 2026, page 2
- 20. Annual report, 1 Sep 2026, page 306
- 21. Annual report, 1 Sep 2026, page 6
- 22. Annual report, 1 Sep 2026, page 7
- 23. Annual report, 1 Sep 2026, page 374
- 24. Annual report, 1 Sep 2026, page 88
- 25. Annual report, 1 Sep 2026, page 24
- 26. Earnings call, 28 Jul 2026, page 4
- 27. Annual report, 1 Sep 2026, page 26
- 28. Annual report, 1 Sep 2026, page 7
- 29. Annual report, 1 Sep 2026, page 26
- 30. Annual report, 1 Sep 2026, page 26
- 31. Earnings call, 28 Jul 2026, page 12
- 32. Annual report, 1 Sep 2026, page 62
- 33. Annual report, 1 Sep 2026, page 27
- 34. Annual report, 1 Sep 2026, page 151
- 35. Annual report, 1 Sep 2026, page 27
- 36. Annual report, 1 Sep 2026, page 62
- 37. Annual report, 1 Sep 2026, page 30
- 38. Annual report, 1 Sep 2026, page 30
- 39. Annual report, 1 Sep 2026, page 27
- 40. Annual report, 1 Sep 2026, page 7
- 41. Earnings call, 28 Jul 2026, page 6
- 42. Earnings call, 28 Jul 2026, page 17
- 43. Earnings call, 28 Jul 2026, page 11
- 44. Earnings call, 28 Jul 2026, page 7
- 45. Exchange filing, 7 Oct 2026, page 3
- 46. Exchange filing, 7 Oct 2026, page 2
- 47. Exchange filing, 25 Sep 2026, page 1
- 48. Exchange filing, 3 Sep 2026, page 2
- 49. Annual report, 1 Sep 2026, page 40
Results
Consolidated; ₹ crore.Steel Authority of India quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +9.4%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +119.2%
Quarter to Sep 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹31,998 Crup 21.92%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹1,750 Crup 6.47%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 5.5%
Revenue by quarter
Net profit by quarter, a loss in red
| ₹ crore | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 24,490 | 29,316 | 25,922 | 26,704 | 27,371 | 30,813 | 26,246 | 31,998 |
| Net profit | 142 | 1,251 | 745 | 419 | 374 | 1,835 | 1,644 | 1,750 |
| Net margin | 0.6% | 4.3% | 2.9% | 1.6% | 1.4% | 6.0% | 6.3% | 5.5% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹1,10,811 Crup 8.13%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹3,373 Crup 42.20%
- Net margin
- 3.0%
Revenue by year
Net profit by year, a loss in red
- Net profit
- Loss
The years either side of a change of basis do not compare. From the year to Mar 2018, GST replaced excise duty on 1 Jul 2017, and revenue before that day includes the duty.
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 49,829what Revenue, Mar 2017, includes. This period's revenue includes excise duty of ₹5,327 crore, a tax on the goods the company makes that it collects and pays to the government. | 58,966what Revenue, Mar 2018, includes. This period's revenue includes excise duty of ₹1,406 crore, a tax on the goods the company makes that it collects and pays to the government. | 66,974 | 61,664 | 69,114 | 1,03,477 | 1,04,448 | 1,05,378 | 1,02,479 | 1,10,811 |
| Net profit | −2,756 | −281 | 2,349 | 2,121 | 4,148 | 12,243 | 2,177 | 3,067 | 2,372 | 3,373 |
| Net margin | −5.5% | −0.5% | 3.5% | 3.4% | 6.0% | 11.8% | 2.1% | 2.9% | 2.3% | 3.0% |
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- Bhilai Steel PlantBhilai Steel Plant, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹31,873 Crdown 4.67%26.5%
- Bokaro Steel PlantBokaro Steel Plant, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹27,407 Crup 21.02%22.8%
- Rourkela Steel PlantRourkela Steel Plant, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹25,859 Crup 7.34%21.5%
- IISCO Steel PlantIISCO Steel Plant, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹13,065 Crup 3.76%10.9%
- Durgapur Steel PlantDurgapur Steel Plant, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹11,580 Crdown 5.13%9.6%
- Salem Steel PlantSalem Steel Plant, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹2,023 Crup 3.43%1.7%
- Alloy Steel PlantAlloy Steel Plant, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹1,235 Crdown 1.43%1.0%
- Visvesaraya Iron & Steel PlantVisvesaraya Iron & Steel Plant, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹259 Cr0.2%
- OthersOthers, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹6,965 Crup 112.54%5.8%
Valuation
Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2018: days before it are of the company before the change.Steel Authority of India PE ratio and valuation
At or below today's level on 45% of 1,940 trading days since Aug 2018.
At or below today's level on 82% of 1,978 trading days since Nov 2018.
At or below today's level on 69% of 2,463 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +33.0% | +42.3% | −7.6% | 1.6% |
| 3 years | +23.8% | +15.7% | +5.7% | 1.5% |
| 5 years | +17.0% | −4.0% | +18.8% | 3.0% |
Mutual fund holdings
216 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 134 of the 158 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 216 funds holding Steel Authority of India
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 4
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 2
- AddedAdded. Funds that held more shares than at the end of the month before.
- 78
- CutCut. Funds that held fewer shares than at the end of the month before.
- 80
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 51
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 7
| Fund | |||
|---|---|---|---|
| 5,32,03,963 | 2.25% | ₹965.6 Cr | |
| 4,04,41,210 | 3.76% | ₹734.0 Cr | |
| 2,49,24,710 | 1.84% | ₹452.4 Cr | |
| 1,77,23,700 | 1.31% | ₹321.7 Cr | |
| 1,70,46,900 | 1.15% | ₹309.4 Cr | |
| 1,63,84,200 | 0.84% | ₹297.4 Cr | |
| 1,44,19,600 | 0.35% | ₹261.7 Cr | |
| 1,17,26,500 | 0.46% | ₹212.8 Cr | |
| 1,08,99,300 | 1.81% | ₹197.8 Cr | |
| 1,05,13,900 | 1.11% | ₹190.8 Cr |
Promoter and insider buying and selling
Trades made since 29 Oct 2025.Steel Authority of India insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Others: no market trade
Steel Authority of India competitors and peers
Iron & Steel, 15 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to Steel Authority of India in market cap.Metal stocks
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 3,03,530 | 10.67 | 2.68 | +14.1% | +371.9% | 29.0% | 14.3% | 0.57% | |
| 2,11,309 | 19.15 | 2.07 | +10.5% | +143.1% | 11.4% | 11.9% | 2.36% | |
| 1,06,915 | 37.46 | 2.04 | +25.5% | +4.1% | 5.6% | 8.3% | 0.19% | |
| 56,238 | 16.86 | 2.65 | +11.7% | +20.6% | 17.0% | 16.0% | 0.59% | |
| 16,040 | 14.20 | 2.18 | +5.9% | +20.8% | 16.5% | 14.6% | 0.44% | |
| 11,479 | 137.20 | 0.87 | +41.6% | – | 0.6% | 2.7% | 0.00% | |
| 10,386 | – | 1.78 | – | – | – | – | 0.00% | |
| 8,256 | 11.51 | 2.54 | +45.2% | +45.7% | 24.5% | 24.4% | 0.29% |
Dividends
Per share, by the year it was paid for, and the latest payments.Steel Authority of India dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 30 Sep 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹2.35 |
| 8 Sep 2025 | Final | ₹1.60 |
| 19 Sep 2024 | Final | ₹1.00 |
| 20 Feb 2024 | Interim | ₹1.00 |
| 20 Sep 2023 | Final | ₹0.50 |
| 24 Mar 2023 | Interim | ₹1.00 |
Latest announcements
Routine notices left out.Steel Authority of India announcements
Oct 2026
28 Oct · General Updates
27 Oct · Results
22 Oct · Analysts
21 Oct · Board meeting
Steel Authority of India share price by year
Each calendar year to 2025.Steel Authority of India share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 146.99 | +29.9% | 146.99 | 100.02 |
| 2024 | 113.13 | −8.5% | 174.35 | 108.80 |
| 2023 | 123.65 | +49.6% | 123.65 | 80.80 |
| 2022 | 82.65 | −22.9% | 113.00 | 64.90 |
| 2021 | 107.20 | +44.7% | 146.30 | 56.95 |
| 2020 | 74.10 | +72.7% | 74.10 | 20.40 |
| 2019 | 42.90 | −23.9% | 59.25 | 30.05 |
| 2018 | 56.35 | −38.8% | 100.35 | 50.05 |
| 2017 | 92.15 | +86.9% | 92.75 | 50.50 |
| 2016 | 49.30 | +2.0% | 55.25 | 34.45 |
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 169.10 | 173.95 | 167.01 | 171.20 | 170.59 | 1,93,79,561 | 34.2% |
| 26 Oct 2026 | 164.10 | 170.04 | 162.11 | 169.80 | 165.30 | 1,57,62,490 | 40.9% |
| 23 Oct 2026 | 169.00 | 169.50 | 161.31 | 164.34 | 164.00 | 1,44,52,738 | 35.3% |
| 22 Oct 2026 | 168.50 | 170.84 | 165.85 | 169.75 | 169.14 | 1,14,69,692 | 41.3% |
| 21 Oct 2026 | 171.00 | 172.72 | 166.50 | 169.50 | 170.02 | 1,53,52,106 | 47.5% |
| 19 Oct 2026 | 171.00 | 171.70 | 168.30 | 168.97 | 169.70 | 42,31,992 | 36.1% |
| 16 Oct 2026 | 170.00 | 172.50 | 168.50 | 170.95 | 170.76 | 76,44,172 | 34.4% |
| 15 Oct 2026 | 170.00 | 170.64 | 168.58 | 170.29 | 169.69 | 52,50,825 | 36.0% |
| 14 Oct 2026 | 172.77 | 173.58 | 170.00 | 170.00 | 171.58 | 81,58,620 | 48.0% |
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Offer for sale history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 4 Jun 2024 | Price move | – | Between two trading sessions the price moved by a fifth or more. The Nifty 500 moved 5% or more the same way over the same sessions. Not adjusted for. |
Company details
- NSE symbol
- SAIL
- BSE code
- 500113
- ISIN
- INE114A01011
- Industry
- Ferrous Metals
- Website
- www.sail.co.in
- CIN
- L27109DL1973GOI006454
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1973
- Registered office
- Ispat Bhawan, Lodi Road, New Delhi 110003, Delhi
- Share registrar
- MCS Share Transfer Agent Ltd
- Keeps the register of shareholders and handles transfers and dividend payments