SAIL earns Rs 3,850 cr net profit in FY21

The Steel Authority of India Limited (SAIL) announced its annual as well as fourth quarter performance for the financial year FY 2020-21 (FY21) on June 10.

According to a press release, SAIL has exhibited strong performance in all parameters in FY21 despite the unprecedented challenges posed by the COVID-19 pandemic.

While commenting on the company’s performance during FY21, Mrs. Soma Mondal, Chairperson, SAIL said, “The production performance and financial performance of the company have improved hand-in-hand during the year. ‘Team-SAIL’ worked committedly notwithstanding severe and unforeseen challenges posed by the pandemic of COVID-19 especially during the first half. The second half saw buoyancy in steel demand on the back of recovering economic activities. With the Government also putting thrust on infrastructure spending, we focused on scaling up market driven products along with improvement in operational efficiency, which helped the company deliver a noteworthy performance”.

The following are the key highlights of SAIL’s performance in FY 2020-21 and Q4 FY’21:

• EBITDA of Rs.13740 Crore and Profit After Tax (PAT) of Rs. 3850 Crore in FY21
• EBITDA of Rs. 6473 Crore and Profit After Tax of Rs. 3444 Crore in Q4FY21
• Net debt (Non IndAS) decreased by Rs. 16,131 Crore to Rs. 35,350 Crore (as on 31.03.2021) during FY 2020-21.
• Achieved highest ever quarterly hot metal, crude steel and saleable steel production of 4.98 MT, 4.56 MT and 4.42 MT respectively during Q4FY21; registered a 8%, 6% and 11% growth in these categories over CPLY.
• Clocked best ever annual sales at 14.94 MT; a growth of 5% over CPLY.
• Achieved best ever quarterly sales performance of 4.35 MT sales in Q4FY21, a growth of 16% over CPLY.