SIGN IN SUBSCRIBE

News Update

IndiGo orders 30 Airbus A350s for long haulsFiling of Form 10A & 10AB: CBDT extends due date to June 30RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimesCPGRAMS recognized as best practice in Commonwealth Secretaries of public serviceIsrael-Iran War: A close shave for Global Economy but for how long?KABIL, CSIR ink MoU for Advancing Geophysical InvestigationsI-T - If income from stock-in-trade are held as investments, then provisions of section 14A would apply to such income: ITATTRAI recommends on Infra Sharing, Spectrum Sharing & Spectrum LeasingI-T- Revisionary powers u/s 263 can't be exercised when AO has neither assumed facts incorrectly nor there is incorrect application of law : ITATTechnology Board okays funding of Dhruva Space's Solar Array ProjectI-T- Issue of interest is debatable issue on which two views are possible and AO accepted one of views for which PCIT cannot assume revisional jurisdiction: ITATHealth Secy visits Bilthoven Biologicals, discusses production of Polio VaccineI-T - Estimation of profit element from purchases should be done reasonably if assessee could not conclusively prove that purchases made are from parties as claimed, in absence of confirmations from them: ITATStudy finds Coca-Cola accounts for 11% of branded plastic pollution worldwideI-T- Triplex flats purchased are interconnected and can be considered as 'a residential unit'' as per definition of section 54F of Act : ITATDelhi HC says conspiracy against PM is a crime against StateI-T- AO omitted to probe issue of cash payments made over specified limit; revisionary power u/s 263 is rightly exercised: ITATBrazil makes new rules to streamline consumption taxesI-T-Power of revision unnecessarily exercised where AO had no scope to examine creditworthiness & genuineness of assessee's creditors: ITATBiden signs rules mandating airlines to give automatic refunds for delayed or cancelled flightsI-T-As per settled law, in absence of enabling powers, no disallowance can be made : ITATBYD trying to redefine luxury for new EV variantsGST - On the one hand, the order states registration is liable to be cancelled retrospectively and on the other hand mentions that there are no dues - Order modified: HCSC asks EC to submit more info on reliability of EVMsRight to Sleep - A Legal lullaby
 
SAIL's revenue crosses Rs one lakh Crore

By TIOL News Service

NEW DELHI, MAY 25, 2022: STEEL Authority of India Limited (SAIL) has declared its financial results here yesterday for the quarter and year ending 31 st March, 2022 (FY'22).

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. 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 improve techno-economics parameters while seizing possible opportunities in the market place.

Key highlights:

FY 2021-22

Remarkable improvement in financial performance due to robust operational performance

Highest ever Revenue from Operation of Rs.1,03,473 Crore

EBITDA of Rs.22,364 Crore, Profit Before Tax (PBT) of Rs.16,039 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

SAIL is focused on proactive stakeholders' engagement, which includes:

Sharing of Profit with shareholders, company recommended Rs. 2.25 as final dividend for FY'22. SAIL declared highest ever dividend in FY'22 i.e. Rs. 8.75 per share including the already paid two interim dividends for FY'22

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.

Supply of Liquid Medical Oxygen in excess of 1.3 Lakh Tonne, majorly during second wave of CoVID -19. SAIL Plants set up separate Jumbo CoVID Care facilities, which increased CoVID-19 dedicated beds

Implementation of wage revision for the employees

SAIL FY'22 and Q4 FY'22 at a glance

 

Unit

FY'22

FY'21

Q4 FY'22

Q4 FY'21

Crude steel Production

Million Tonne

17.36

15.21

4.60

4.56

Sales

Million Tonne

16.15

14.94

4.71

4.34

Revenue From Operation

Rs. Crore

103473

69110

30758

23286

EBITDA

Rs. Crore

22364

13740

4783

6473

Profit Before Tax (PBT)

Rs. Crore

16039

6879

3210

4608

Profit After Tax (PAT)

Rs. Crore

12015

3850

2418

3444

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.


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.

TOP NEWS

AR not Afar by SK Rahman

VISION 360



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

TII LATEST

TIOLCORPLAWS LATEST