Steel Authority of India Limited Clocked Best Ever Profitability

SEATTLE (Scrap Monster): State-owned Indian steelmaker, Steel Authority of India Limited (SAIL) announced its financial results for the quarter and year ending 31^st March, 2022.

During the full year FY 22, the company achieved its best-ever performance in production and sales. The steelmaker recorded all-time high revenue from operation of INR 103,473 crore and EBITDA of INR 22,364 crore. The robust results were mainly driven by uptick in steel demand and positive business outlook by the company. Incidentally, SAIL had made concerted efforts during this period to enhance production and seize additional market place opportunities.

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The crude steel production by the company totalled 17.36 million tonnes in FY 22, significantly higher from 15.21 million tonnes produced in FY 21. The annual sales too were up from 14.94 million tonnes to 16.15 million tonnes over the previous year.

The Q4 FY 22 crude steel production, at 4.60 million tonnes, was up marginally from 4.56 million tonnes during the corresponding quarter a year before. Also, the sales were up from 4.34 million tonnes to 4.71 million tonnes.

The company recommended INR 2.25 as final dividend for FY ’22. With this, the total dividend payment by the company in FY ’22 amounted to INR 8.75 per share, which is the highest ever.