New Delhi, 10th November, 2023: Steel Authority of India Limited (SAIL) has declared its financial results today for the quarter and half year ending 30th September, 2023.
Key highlights:
Performance of H1 FY 24 (Standalone) at a glance:
| Unit | H1 22-23 | H1 23-24 | |
| Crude Steel Production | Million Tonne | 8.63 | 9.47 |
| Sales Volume | Million Tonne | 7.37 | 8.65 |
| Revenue from Operations | Rs. Crore | 50,275 | 54,071 |
| Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) | Rs. Crore | 3,780 | 6,132 |
| Profit Before Exceptional Items and Tax | Rs. Crore | 523 | 2,313 |
| Exceptional Items | Rs. Crore | – | 415 |
| Profit Before Tax (PBT) | Rs. Crore | 523 | 1,898 |
| Profit After Tax (PAT) | Rs. Crore | 391 | 1,390 |
Performance of Q2 FY 24 (Standalone) at a glance:
| Unit | Q2 22-23 | Q1 23-24 | Q2 23-24 | |
| Crude Steel Production | Million Tonne | 4.30 | 4.67 | 4.80 |
| Sales Volume | Million Tonne | 4.21 | 3.88 | 4.77 |
| Revenue from Operations | Rs. Crore | 26,246 | 24,358 | 29,714 |
| Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) | Rs. Crore | 1,174 | 2,090 | 4,043 |
| Profit Before Exceptional Items and Tax | Rs. Crore | (516) | 202 | 2,111 |
| Exceptional Items | Rs. Crore | – | – | 415 |
| Profit Before Tax (PBT) | Rs. Crore | (516) | 202 | 1,696 |
| Profit After Tax (PAT) | Rs. Crore | (386) | 150 | 1,241 |
The Company has achieved its best ever performance in production and sales for H-1 and Q2 of the current financial year. The crude steel production and sales volume have registered a growth of 9.7% and 17.4% respectively during H1 FY’24 over CPLY. Similarly, in Q2 of this financial year, crude steel production and sales volume have increased by 11.6% and 13.3% respectively over CPLY.
The consistent efforts by the Company towards increasing its volumes have had a positive impact on the financial performance despite the significant decline in the price realization in the market. The Company remains committed towards improving capacity utilization, value addition and cost competitiveness besides De-carbonisation efforts.
