Steel Authority of India Limited (SAIL), one of India’s leading steel producers, has on Friday unveiled its financial results for the fourth quarter and fiscal year ending on March 31, 2023. Let’s take a closer look at the key highlights of the company’s performance during this period.
Bokaro Steel Plant (BSL) Tops Revenue Contribution:
Under the leadership of Director Incharge Amarendu Prakash, Bokaro Steel Plant (BSL) has emerged as the highest revenue contributor to SAIL in the fiscal year 2022-23. BSL recorded an impressive Profit Before Tax (PBT) of INR 1218.79 Crores, showcasing its continued success in the steel industry.
Other Top Performers:
Following BSL, Rourkela Steel Plant, led by Director Incharge Atanu Bhowmick, secured the second position in terms of profit contribution, generating a PBT of INR 1191.23 crores. Bhilai Steel Plant ranked third with a PBT of INR 954.33 crores, while Burnpur IISCO and Durgapur reported PBTs of INR 558.03 crores and INR 502.49 crores, respectively.
SAIL’s diversified portfolio of steel plants across different regions of India has enabled the company to achieve substantial financial success. With Bokaro Steel Plant, Rourkela Steel Plant, Bhilai Steel Plant, Burnpur IISCO, and Durgapur contributing significantly to the company’s profit margins, SAIL demonstrates its robust presence in the steel industry.
These financial results underscore the effective leadership and operational excellence demonstrated by the various steel plants under SAIL’s umbrella. The continuous growth and profitability of these plants reinforce SAIL’s commitment to delivering high-quality steel products and contributing to India’s economic development.
As SAIL concludes the fiscal year 2022-23 on a positive note, the company will continue to focus on strategic initiatives to strengthen its market position, enhance operational efficiency, and navigate challenges in the steel industry.
Performance of FY 23 (Standalone):
Crude Steel Production: SAIL produced 18.29 million tonnes of crude steel in FY 22-23, compared to 17.37 million tonnes in FY 21-22.
Sales: The company sold 16.20 million tonnes of steel during FY 22-23, slightly higher than the 16.15 million tonnes sold in the previous fiscal year.
Revenue from Operations: SAIL’s revenue from operations amounted to Rs. 1,04,447 crores in FY 22-23, compared to Rs. 1,03,473 crores in FY 21-22.
Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA): The EBITDA for FY 22-23 was Rs. 9,379 crores, a decrease from Rs. 22,364 crores in FY 21-22.
Profit Before Tax (PBT): SAIL recorded a PBT of Rs. 2,637 crores in FY 22-23, compared to Rs. 16,039 crores in FY 21-22.
Profit After Tax (PAT): The company’s PAT for FY 22-23 stood at Rs. 1,903 crores, down from Rs. 12,015 crores in FY 21-22.
Performance of Q4 FY 23 (Standalone):
Crude Steel Production: SAIL produced 4.95 million tonnes of crude steel in Q4 22-23.
Sales: The company sold 4.68 million tonnes of steel during the same period.
Revenue from Operations: SAIL generated Rs. 29,131 crores from its operations in Q4 22-23.
EBITDA: The EBITDA for Q4 22-23 amounted to Rs. 3,401 crores.
PBT: SAIL recorded a PBT of Rs. 1,049 crores in Q4 22-23.
PAT: The company’s PAT for Q4 22-23 stood at Rs. 464 crores.
SAIL has recommended a final dividend of Rs. 0.50 per share for FY 23. This brings the total dividend for the fiscal year to Rs. 1.50 per share, including the interim dividend that was already declared.