SAIL Achieves Remarkable Q1 Performance, Sets New Records for Crude Steel Production and Sales
New Delhi, August 11, 2023 – Steel Authority of India Limited (SAIL) has announced a groundbreaking achievement in its first quarter performance for the fiscal year 2023-24, marking an impressive milestone in the company’s history. The quarter ending on June 30, 2023, witnessed exceptional growth in key operational areas, as revealed in SAIL’s financial results declaration.
Stellar Q1 Performance Highlights:
SAIL’s performance during Q1 FY 2023-24 (Standalone) stands out with substantial progress across various crucial metrics:
| Metric | Q1 2022-23 | Q4 2022-23 | Q1 2023-24 |
|---|---|---|---|
| Crude Steel Production | 4.33 Million Tonnes | 4.95 Million Tonnes | 4.67 Million Tonnes |
| Sales Volume | 3.15 Million Tonnes | 4.68 Million Tonnes | 3.88 Million Tonnes |
| Revenue from Operations | ₹24,029 Crore | ₹29,131 Crore | ₹24,358 Crore |
| EBITDA | ₹2,606 Crore | ₹3,401 Crore | ₹2,090 Crore |
| Profit Before Tax (PBT) | ₹1,038 Crore | ₹1,480 Crore | ₹202 Crore |
| Profit After Tax (PAT) | ₹776 Crore | ₹1,049 Crore | ₹150 Crore |
Unprecedented Growth in Production and Sales:
SAIL’s Q1 performance showcases a remarkable achievement in both Crude Steel Production and Sales. The company experienced an impressive 8% surge in Crude Steel Production and an astounding 23% increase in Sales Volumes compared to the corresponding period last year (CPLY). Despite the surge in volumes, the overall turnover experienced a 1% uptick, attributed to a slight decline in price realization.
Optimistic Market Outlook and Strategic Initiatives:
With coking coal prices stabilizing and a positive market outlook projecting sustained consumption growth in the nation, SAIL is poised for improved margins in the foreseeable future. The company is actively engaged in strategic initiatives, including debottlenecking and efficiency enhancement projects, aimed at bolstering profitability in the medium term.
SAIL’s exceptional Q1 performance underscores its commitment to continuous growth and excellence in the steel industry. As the company continues to navigate dynamic market conditions and implement strategic measures, all indicators point towards a promising trajectory for SAIL’s future achievements.
Disclaimer: This news article is based on the official press release issued by Steel Authority of India Limited (SAIL). The information provided is accurate as of the date of publication and is subject to change based on future updates from the company.
