SAIL posts 21% net sales revenue growth -Governance Now

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”.

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