SAIL posts 21% net sales revenue growth

The steel enterprise also registered 30 percent improvement in sales of railway products

GN Bureau | November 11, 2017


#PSU   #SAIL   #railway  

 Steel Authority of India Ltd has added another feather to its cap by registering 21 percent growth in net sales revenue of Rs 13,442 crore in the second quarter of current fiscal. In the corresponding period last year, the PSU clocked Rs 11,080 crore. 

SAIL’s emphasis on increasing the share of high value products has begun to yield positive revenue results. It posted four percent growth in domestic sales in the first half of current fiscal with 21 percent improvement in sales of high value products like cold rolled and galvanized products. There has also been a sizeable 30 percent improvement in sales of railway products during the same period.
 
Registering positive EBITDA (earnings before interest, taxes, depreciation and amortization) for the sixth consecutive quarter, SAIL achieved EBITDA of Rs 967 crore before exceptional expenses in Q2FY18, recording a growth of more than 400 percent.
 
SAIL chairman PK Singh said, “Our focus on reducing operating cost of assets, prudent finance management, efficient production process and increased share of value added and branded products has started showing results. SAIL is aiming to supply large quantities of steel in prestigious projects including Sagarmala, upcoming Bharatmala project and railway expansion”.
 

Comments

 

Other News

A new retelling of the Mahabharata delves into key moments

In a time when every decision carries consequences and questions of ambition, power, loyalty, identity and moral choice continue to shape our lives, Dr. Arun Krishnan’s new book, ‘Mahakshana’ (Penguin India) offers a strikingly relevant retelling of the Mahabharata.  

Cabinet approves viability gap funding to develop grid-scale energy storage systems

The Union Cabinet, chaired by PM Narendra Modi, has approved the Viability Gap Funding (VGF) Scheme for Development of Grid-Scale Energy Storage Systems, with a total financial support of Rs.14,500 crore for the period FY 2026-27 to FY 2030-31. The scheme aims to support the development o

Cabinet creates a pathway to absorb Agniveers in Defence Forces

An objective assessment in terms of organisational requirements and operational efficiency has brought out the outstanding performance of Agniveers in terms of skills, motivation levels, physical fitness and technological prowess. As envisaged earlier, based on merit, 25% of Agniveers will be offered reg

Modi inaugurates, lays foundation stone of Pune Metro projects

Prime minister Narendra Modi inaugurated and laid the foundation stone for Pune Metro projects worth around ₹21,800 crore on Tuesday through video conferencing. Addressing the gathering on the occasion, the PM extended warm Diwali greetings to the people of Pune and Maharashtra and remarked that f

Wired for good: Building sustainable cities with AI

The First Industrial Revolution in the 18th-19th centuries ushered in a paradigm shift in how cities were imagined. Fueled by railways, factories and grids, and obsessed with speed and scale, it was an ode to efficiency, which spurred unprecedented economic growth. Now, as the Fourth Industrial Revolutio

How social media is reshaping elections

Since Brazil’s return to direct presidential elections in 1985, no candidate who finished second in the first round of polling had ever won the presidency. Luiz Inácio Lula da Silva, now 81, has just done it. What explains the comeback, and what changed in Brazilian politics to make it possi

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter