News

SAIL Records Best Ever 9M Prodn, Sales

New Delhi, February, 2024: Steel Authority of India Limited (SAIL) has declared its financial results for the quarter and nine months ending December 31, 2023.

Key highlights:

Performance of 9M FY 24 (Standalone) at a glance:

	Unit	9M 22-23	9M 23-24
Crude Steel Production	Million Tonne	13.34	14.22
Sales Volume	Million Tonne	11.52	12.46
Revenue from Operations	Rs. Crore	75,317	77,417
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA)	Rs. Crore	5978	8451
Profit Before Exceptional Items and Tax	Rs. Crore	859	2698
Exceptional Items	Rs. Crore	(298)	339
Profit Before Tax (PBT)	Rs. Crore	1157	2359
Profit After Tax (PAT)	Rs. Crore	854	1722

Performance of Q3 FY 24 (Standalone) at a glance:

	Unit	Q3 22-23	Q2 23-24	Q3 23-24
Crude Steel Production	Million Tonne	4.71	4.80	4.75
Sales Volume	Million Tonne	4.15	4.77	3.81
Revenue from Operations	Rs. Crore	25,042	29,714	23,345
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA)	Rs. Crore	2198	4,043	2,319
Profit Before Exceptional Items and Tax	Rs. Crore	336	2,111	384
Exceptional Items	Rs. Crore	(298)	415	(76)
Profit Before Tax (PBT)	Rs. Crore	635	1,696	461
Profit After Tax (PAT)	Rs. Crore	464	1,241	331

The Company has achieved its best ever performance in production and sales for 9M of the financial year. The crude steel production and sales volume have registered a growth of 6.6% and 8.2% respectively during 9M FY’24 over CPLY.

Amarendu Prakash, Chairman, SAIL said, “The consistent efforts by the Company towards increasing its volumes have had a positive impact on the financial performance despite the significant decline in the price realization during the quarter. The Company remains steadfast in its commitment towards sustainable performance including emphasis on de-carbonisation, improving capacity utilization, value addition, enhanced digitalization and achieving cost competitiveness”.