Steel Authority of India (SAIL) rose 1.75% to Rs 130.80 after the company's consolidated net profit jumped 31.1% to Rs 3,469.88 crore on 44% surge in net sales to Rs 23,284.89 crore in Q4 March 2021 over Q4 March 2020.
Profit before tax soared 13.6% to Rs 4,660.97 crore in Q4 FY21 as against Rs 4,102.95 crore in Q4 FY20.
During the financial year, SAIL's consolidated net profit climbed 95.60% to Rs 4,148.13 crore on 12.08% rise in revenue from operations to Rs 69,113.61 crore in FY 2021 over FY 2020.
On a standalone basis, SAIL's net profit jumped 26.4% to Rs 3443.80 crore on 44% surge in net sales to Rs 23,286 crore in Q4 March 2021 over Q4 March 2020. EBITDA fell 6.4% to Rs 6,473 crore in Q4 March 2021 as against Rs 6,917 crore in Q4 March 2020. Turnover galloped 44.6% to Rs 23,166 crore in Q4 FY21 from Rs 16,024 crore in Q4 FY20. Net debt (Non Ind-AS) decreased Rs 16,131 crore to Rs 15,350 crore as on 31 March 2021. The company achieved highest ever quarterly hot metal, crude steel and saleable steel production of 4.98 million tonnes (MT), 4.56 MT and 4.42 MT respectively during Q4 FY21, registering a growth of 8% year-on-year (Y-o-Y), 6% Y-o-Y and 11% Y-o-Y respectively. SAIL's quarterly sales jumped 16% to 4.35 MT in Q4 FY21 as against Q4 FY20.
While commenting on the company's performance during FY21, Sorna Mondal, chairperson of SAIL, said: "The production performance and financial performance of the company have improved hand-in-hand during the year. 'Team-SAIL' worked committedly notwithstanding severe and unforeseen challenges posed by the pandemic of COVID-19 especially during the first half. The second half saw buoyancy in steel demand on the back of recovering economic activities. With the government also putting thrust on infrastructure spending, we focused on scaling up market driven products along with improvement in operational efficiency which helped the company deliver a noteworthy performance."
"As the country is braving the second wave of COVID-19, we are doing every bit to face the challenges and maintain the momentum. Our priority remains to increase volumes, with emphasis on enhancing the share of value-added products, in tandem with market requirements while continuiously bringing in systemic improvements across the organization," she added.
The board has declared a final dividend of Rs 1.80 per equity share of Rs 10 each.
SAIL is one of the largest steel-making companies in India and one of the Maharatna's of the country's Central Public Sector Enterprises. It produces iron and steel at five integrated plants and three special steel plants, located principally in the eastern and central regions of India and situated close to domestic sources of raw materials. SAIL manufactures and sells a broad range of steel products.
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