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SAIL Declares Financial Results for FY’22, Revenue Crosses Rupees One Lakh Crore; Achieves Best Ever Profitability

N ewdelhi:24/5/22:Steel Authority of India Limited (SAIL) has declared its financial results here yesterday for the quarter and year ending 31st 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-economic parameters while seizing possible opportunities in the marketplace.

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 for 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.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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