SAIL clocks best ever Q2 hot metal and crude steel production in second quarter of FY20

By Sarkaritel November 14, 2019 19:07

New Delhi, 14th November, 2019: Steel Authority of India Limited (SAIL) declared the results for the Second Quarter of the current Financial Year (Q2 FY’20) today. The Company posted a net loss of Rs 342.84 Crore in Q2 FY’20. Considering the weak market sentiments and global consumption trends during the last few months, the overall margin of the steelmaker was affected, similar to other domestic steel producers.Owing to the extended monsoon season and low demand from the core sectors, the domestic steel demand was also affected. Notwithstanding these, SAIL achieved its best ever Q2 Hot Metal and Crude Steel production during Q2 FY’20.

Shri Anil Kumar Chaudhary, Chairman, SAIL said on the occasion, “The second quarter was affected by a lot of factors both domestic and global. It is common knowledge that several steel consuming sectors including auto, infrastructure and manufacturing did not perform well in the said quarter. At the same time, the prices have also faced continuing downward pressure. This has reflected in the results”.

The salient features of SAIL’s performance are given below:

Item Q2 FY 2019-20 Q2 FY 2018-19 %Growth (+/-)
Hot Metal Production 4.20 Million Tonnes 3.97 Million Tonnes 6%
Crude Steel Production 3.89 Million Tonnes 3.70 Million Tonnes 5%
Saleable Steel Production 3.56 Million Tonnes 3.54 Million Tonnes 1%
Turnover Rs 13, 951 Crore Rs 16,541 Crore (-) 16%
EBITDA Rs 1322 Crore Rs 2474 Crore (-) 47%
EBITDA per Tonne

Saleable Steel Sales

Rs 4200 Rs 7118 (-) 41%
By Sarkaritel November 14, 2019 19:07