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

Mumbai`s stalled building projects: Is self-redevelopment the real solution?

Land in Mumbai city, which is surrounded by water on three sides, is scarce and has a premium. Property prices in certain areas of financial capital of the country are as much as Rs 1 lakh per sq ft. Yet, 5,800 buildings have been lying in a stalled condition for the last 18 years. Meanwhile

Revadi, electoral reforms and fiscal responsibility

Revadi (sweetmeat) or more popular word, ‘freebies’, has been dominating headlines recently. A public interest litigation (PIL) has been filed in Supreme Court to bar all political parties from making such promises. In response, one leading political party, Aam Aadmi Party (AAP), has filed thei

Jal Jeevan Mission: 6.70 crore households provided with tap water connections

Since August 2019, Government of India, in partnership with States, is implementing Jal Jeevan Mission (JJM) to make provision of potable tap water supply every rural household by 2024. As many as 6.70 crore households have been provided with tap water connections in the 35 months, since Aug

Cloud inclusivity: Ensuring highly regulated organisations are ready for a cloud-first world

Over the last few years, cloud has been able to create a special place for itself amongst fast moving, competitive and growth-led organisations. As the technology became an imperative, it has undoubtedly created unique business opportunities and isbecoming an anchor for innovation for leading businesses gl

1.29 crore voters chose NOTA in five years

None-of-the-above, or NOTA – the option introduced for voters in 2013 when they don’t want to support any of the candidate – has made some progress. In the past five years, NOTA has secured 1,29,77,627 votes in state assembly elections and Lok Sabha election, according to an analysis by t

India committs to reduce Emissions Intensity of GDP by 45% by 2030

India stands committed to reduce Emissions Intensity of its GDP by 45 percent from the 2005 level by 2030 and achieve about 50 percent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030. The country’s India’s updated Nationally Determined Contributi

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