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SAIL declares financial results for FY’22, revenue crosses Rs 1 lakh crore

Steel Authority of India Limited (SAIL) has declared its financial results here for the quarter and year ending 31st March 2022 (FY’22).

Statesman News Service | New Delhi |

Steel Authority of India Limited (SAIL) has declared its financial results here for the quarter and year ending 31st March 2022 (FY’22).

SAIL declared its financial results here yesterday.

During FY’22, the company has clocked its best-ever performance in production and sales while achieving an all-time high revenue from operation of Rs 1,03,473 crore and EBITDA of Rs 22,364 crore.

According to the key highlights, in FY 2021-22, there has been a remarkable improvement in financial performance due to robust operational performance, the Ministry of Steel said in a statement.

“Highest ever Revenue from Operation of Rs 1,03,473 crore, EBITDA of Rs 22,364 crore, Profit Before Tax (PBT) of Rs16,039 crore, and Profit After-Tax (PAT) of Rs 12,015 crore. The drive towards deleveraging continues. Borrowings
stood below Rs 13,400 crore as on 31.03.2022,” the Ministry of Steel said in a statement.

“SAIL is focused on proactive stakeholders’ engagement, which includes: Sharing of Profit with shareholders, the company recommended Rs 2.25 as final dividend for FY’22. SAIL declared the highest ever dividend in FY’22 i.e. Rs. 8.75 per share including the already paid two interim dividends for FY’22,” it said.

According to the key highlights, SAIL emerged as the topmost buyer on GeM amongst all CPSEs in FY’22. SAIL has supplied steel for various projects of National importance like Central Vista Delhi, Mumbai-Ahmedabad High-Speed Rail, Delhi-Meerut RRTS, Polavaram Irrigation project, Kaleshwaram Irrigation Project, Purvanchal Expressway, several Metro Rail Projects across the Country, etc.

“This performance, backed by an uptick in steel demand and positive business outlook, is an outcome of collaborative and concerted efforts for enhancing production and improving techno-economic parameters while seizing possible opportunities in the marketplace,” the Ministry said.

This record-breaking performance in FY’22 is a result of synergy across the Organization However, the fourth quarter could not be fully insulated from the unprecedented rise in input costs, especially the price rise of imported coking coal on account of various reasons.

Notwithstanding the challenges, the Company has taken several proactive steps to contain costs.

Going forward, the Company has plans to meet the twin challenges of higher input costs and market price volatility by undertaking various measures for continual improvement in its processes and products basket.