SAIL reports highest Profit in last ten years

SAIL posted its highest ever EBITDA of Rs 13740 Crore which was higher by ~23% over CPLY.

GN Bureau | September 29, 2021


#Soma Mondal   #SAIL   #CMD SAIL   #SAIL AGM   #SAIL EBITDA   #SAIL PBT  

The Steel Authority of India Limited (SAIL) held its 49th Annual General Meeting. Soma Mondal, Chairman, SAIL while addressing the shareholders described FY '21 as the year of ‘Growth and Scaling new​er​ heights’ for SAIL. SAIL posted its highest ever EBITDA of Rs 13740 Crore which was higher by ~23% over CPLY. The factors which helped improve profitability included higher sales of secondary products, sale of iron ore fines, lower usage of other raw materials, improvement in techno-economic parameters, benefit in stores and spares expenses, decreased purchased power rates, reduction in interest charges, higher dividend income and forex exchange gain among others. The Profit Before Tax (PBT) of the company stood highest in the last ten years.

Taking proactive actions, SAIL has reworked its plans and strategies to sustain all-round activities. Outlining some of those, she said, SAIL made optimal utilization of the operational facilities instead of operating a greater number of facilities at a sub-optimal level. Along with the reduction in cost by reducing consumption level for various inputs, the capital repairs were also preponed wherever feasible. In these trying times, the company maximized sales volumes through potential channels like exports, dispatch to Railways while it reduced cash outflows by reviewing commitments and renegotiating contracts among others.

Comments

 

Other News

New study tracks heat wave; exposes dangerous trends in big cities

An unprecedented heat wave has been enveloping Indian cities, worsening the urban heat island effect, this summer. A new analysis by Centre for Science and Environment (CSE) says there are far deeper and longer term evidences on the nature of this changing trend that is impacting the biggest cities of the

Phase 6: Voter turnout 59.06% at 7:45 PM

Polling in the sixth phase of General Elections 2024 which commenced across 58 PCs recorded an approximate voter turnout of 59.06% as of 7:45 pm Saturday. In spite of hot weather in certain parts of the country, voters were undeterred in their enthusiasm as they were seen queuing up patient

Banks not adhering to RBI guidelines, finds study

Banks across India are levying inconsistent service charges on basic savings accounts. A study, “Benchmarking Reasonableness of Service Charges by Banks in India”, uncovers and exposes inconsistencies in adherence to RBI mandates by banks. It finds some banks impose charges exceeding reasonable

“Mumbai Infra boom similar to that of Manhattan in 19th C”

Mumbai’s ongoing infrastructure boom – with a new coastal road, Atal Setu, metro lines and much more – creating transport corridors – is comparable to that of Manhattan in New York during 1811-1870, according to BMC commissioner Bhushan Gagrani. The iconic projects being implemented

Global Gandhi: How the Mahatma captured the world’s imagination

Gandhi’s Australia, Australia’s Gandhi By Thomas Weber Orient BlackSwan, 348 pages, Rs 1,800  

Urban apathy in Mumbai, Maharashtra sees 49% voting

Polling in the fifth phase of General Elections 2024 which commenced at 7 am on Monday simultaneously across 49 PCs recorded an approximate voter turnout of 57.47% as of 7:45 pm. Voters came out in large numbers braving hot weather in many parts of the states that went for polls on Monday.

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter