Declaring its financial results for FY’2019-20 on Friday, the PSU giant Steel Authority of India Limited (SAIL) has reported a Profit Before Tax (PBT) of Rs 3170.66 Crore leading to Profit After Tax (PAT) of Rs 2021.54 Crore.
The company said,”This profit has been earned in-spite of the challenging market conditions including the onset of Coronavirus pandemic.”
In FY’20, the Company made a turnover of Rs 61024.88 Crore and its EBITDA per tonne of Saleable Steel improved from Rs 7284 in FY’19 to Rs 7869 FY’20. The Company’s EBITDA/Turnover figure stood at 18.35% in FY’20 in comparison to a figure of 15.52% CPLY. In addition, SAIL also achieved the best ever 14.23 million tonnes (MT) annual sales during FY’2019-20. The Company’s strategies to increase market reach led SAIL to export 1.18 MT in FY’2019-20, making it the highest ever exports with 54% growth over CPLY.
SAIL re-emerged as the largest domestic crude steel producing company during the FY’2019-20 and produced 16.15 MT of crude steel. The company produced 15.083 MT of saleable steel during the year which is the best ever figure so far.
Commenting on this SAIL’s Chairman Anil Kumar Chaudhary said “SAIL has continued to earn profit consecutively for two years despite the challenging times. The government’s supportive policies have played a pivotal role in maintaining the profitability of the company”.
