Q1FY’18: Sail registers 26% growth in turnover

| | New Delhi

Steel Authority of India Ltd. (SAIL), registered a turnover of Rs 12,860 crore in the first quarter of FY’18 (Q1FY18) posting a growth of 26 per cent over the turnover of Rs 10,180 crore achieved in corresponding period last year (CPLY). In the same quarter, the total sales volume at 3.028 million tonnes (MT) recorded a 9 per cent growth over CPLY.

The Company's sales of finished steel (without semis) were also higher by 4.12 lakh tonnes during Q1FY18 as compared to Q1FY17, recording a 19 per cent growth. With Management’s intensive focus on ramping up of new mills and enriched product mix from the new facilities, SAIL continued to remain EBITDA positive (Rs 23 crore EBITDA in Q1FY18) in Apr-June’17 period. In the Q1FY18, Company bore an impact of 115 per cent higher price on account of imported coal and 25 per cent higher price on account of indigenous coal over CPLY, pushing down the overall profitability margin despite a 14 per cent higher Net Sales Realisations (NSR) over same quarter last year. The profit after tax (PAT) stood at Rs (-) 801 crore for Q1FY'18.  During the quarter, due to Cyclone Debbie the supplies of coking coal from Australia were adversely impacted, resulting in lower production volumes of saleable steel.

Chairman, SAIL, PK Singh said that, “We are maintaining positive EBITDA in spite of the challenging situation in the steel sector, and that shows the collective resolve of the Company. With the imported coal availability stabilising and focus on ramping up the new units, the situation will improve in coming quarters. We have drastically reduced production from inefficient units and are optimising the coal blend in operations to reduce costs. These steps will surely translate into improved financials going forward.”



Sunday Edition

View All

Business Corner

18 Mar 2018 | PNS

AAI conducts international workshop for utilizing GAGAN In keeping with the Prime Minister’s objective of using technology as a means of development and co-operation, Airports Authority of India has now offered GPS-aided Geo Augmented Navigation (GAGAN) to SAARC and Southeast Asian countries in order to allow them to reap the significant benefits that accrue from such an advanced navigation system. AAI conducted a two-day workshop on March 15 and 16, 2018...

Read More


View All

Vehicle theft: One member of inter-State gang arrested

21 Mar 2018 | PNS | Dehradun

Dehradun police have arrested an alleged member of an inter-state gang involved in vehicle theft in Haridwar and Dehradun districts from Muzaffarnagar in Uttar Pradesh on Tuesday. The accused has been identified as Vikram Malik, native of Shamli, Uttar Pradesh, police said, adding that he was currently living in Haryana...

Read More

Page generated in 0.2214 seconds.