Steel Authority of India : SAIL declares financial results for Q4 and Annual FY’24

About this update from Steel Authority Of India Limited

Steel Authority of India Limited (SAIL) Financial Results New Delhi, 20th May, 2024: Steel Authority of India Limited (SAIL) has declared its financial results today for the quarter and year ending 31st March, 2024. Performance of FY 24 (Standalone) at a glance: Unit FY 22-23 FY 23-24 Crude Steel Production Million Tonne 18.29 19.24 Sales Volume Million Tonne 16.20 17.02 Revenue from Operations Rs. Crore 1,04,447 1,05,375 EBITDA Rs. Crore 9,379 12,280 Profit Before Exceptional Items and Tax Rs. Crore 2,379 4,529 Exceptional Items Rs. Crore 258 (841) Profit Before Tax (PBT) Rs. Crore 2,637 3,688 Profit After Tax (PAT) Rs. Crore 1,903 2,733 Performance of Q4 FY 24 (Standalone) at a glance: Unit Q4 22-23 Q3 23-24 Q4 23-24 Crude Steel Production Million Tonne 4.95 4.75 5.02 Sales Volume Million Tonne 4.68 3.81 4.56 Revenue from Operations Rs. Crore 29,131 23,345 27,958 EBITDA Rs. Crore 3,401 2,319 3,829 Profit Before Exceptional Items and Tax Rs. Crore 1,520 384 1,831 Exceptional Items Rs. Crore (40) 76 (502) Profit Before Tax (PBT) Rs. Crore 1,480 461 1,329 Profit After Tax (PAT) Rs. Crore 1,049 331 1,011 During FY 2023-24, the Company has achieved its best ever performance in production and sales. The crude steel production and sales volume have registered a growth of 5.2% and 5.1% respectively during FY'24 over CPLY. The Revenue from Operations for the Company has been the highest ever during FY'24. This was the third consecutive year when the Revenue from Operations crossed the coveted level of Rs. 1,00,000 crore. The Company has recommended a final dividend of Rs. 1 per equity share i.e., 10% of face value for the Financial Year 2023-24, subject to the approval of the shareholders at the AGM. The Company had earlier paid an interim dividend of Rs. 1 per equity share during the year. Commenting on the results, Chairman, SAIL said, "The Indian Steel Markets have remained quite robust showcasing continual growth in demand. SAIL has been taking various initiatives towards increasing volumes, adding value-added products to its product basket, and improving efficiency levels which is reflected in the improved physical performance year on year. The Company will continue to work on improving its performance further to tap into the buoyancy in the growing Indian Steel Market".

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