Steel Authority of India Ltd (SAIL) said in a statement that it had its best-ever annual production and sales in FY22, resulting in the highest-ever revenue of Rs 1.03 lakh crore for the period.
“During FY22, the company achieved its best-ever production and sales results, with revenue from operations of Rs 1,03,473 crore and EBITDA of Rs 22,364 crore,” SAIL said.
SAIL is committed to proactive stakeholder engagement
This performance, which is backed by increased steel demand and a positive business outlook, is the result of collaborative and concerted efforts to improve production and techno-economic parameters while seizing market opportunities, according to the statement.
During the year, the company made a profit before tax of Rs 16,039 crore and a profit after tax of Rs 12,015 crore.
SAIL is committed to proactive stakeholder engagement, which includes profit sharing with shareholders (the company has recommended a final dividend of Rs 2.25 for FY22). It declared the highest ever dividend in FY22, at Rs. 8.75 per share, which includes the two interim dividends already paid for the fiscal year.
According to the company, the state-owned firm was the top buyer on GeM among all CPSEs in FY22. It has supplied steel for numerous national projects, including Central Vista Delhi, the Mumbai-Ahmedabad High Speed Rail, the Delhi-Meerut RRTS, the Polavaram Irrigation Project, the Kaleshwaram Irrigation Project, and others.
Purvanchal Expressway projects
Purvanchal Expressway, various Metro Rail Projects throughout the country, and so on.
During the second wave of COVID -19, the company supplied over 1.3 lakh tonnes of liquid medical oxygen. Separate Jumbo COVID care facilities were established at SAIL plants, resulting in an increase in COVID dedicated beds.
“The organization’s synergy resulted in a record-breaking performance in FY22. However, the fourth quarter was not completely immune to the unprecedented rise in input costs, particularly the price increase of imported coking coal due to a variety of factors “the firm stated
Despite the difficulties, the company has taken several proactive cost-cutting measures.
In the future, the company intends to address the twin challenges of rising input costs and market price volatility by implementing a variety of strategies.
