Thursday, August 18, 2022

SAIL Declares Financial Results for FY’22

Revenue Crosses Rupees One Lakh Crore; Achieves Best Ever Profitability

New Delhi: Steel Authority of India Limited (SAIL) has declared its financial results here yesterday for the quarter and year ending 31st March, 2022 (FY’22).

During FY’22, the company has clocked its best-ever performance in production and sales while achieving an all-time high revenue from operation of Rs.1,03,473 Crore and EBITDA of Rs.22,364 crore. This performance, backed by an uptick in steel demand and positive business outlook, is an outcome of collaborative and concerted efforts for enhancing production and improve techno-economics parameters while seizing possible opportunities in the market place.

The drive towards deleveraging continues. Borrowings stood below Rs.13,400 crore as on 31.03.2022.

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This record-breaking performance in FY’22 is a result of synergy across the Organization.

However, the fourth quarter could not be fully insulated from the unprecedented rise in input costs, especially the price rise of imported coking coal on account of various reasons.

Notwithstanding the challenges, the Company has taken several proactive steps to contain costs. Going forward, the Company has plans to meet the twin challenges of higher input costs and market price volatility by undertaking various measures for continual improvement in its processes and products basket.

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