SAIL records highest ever quarterly production and sales in Q4FY21

Steel Authority of India Limited (SAIL), the Maharatna PSU, has recorded its best ever quarterly performance in both production and sales during Q4 FY'2l.

The Crude Steel production was at 4.55 MT in Q4FY21, up 6% YoY from 4.31 MT during Q4FY20 and up 4% QoQ from 4.37 MT in Q3FY21. Sales during Q4FY21 was at 4.27 MT, up 14% YoY from 3.74 MT during Q4FY20 and up 3% QoQ from 4.15 MT in Q3FY21.

Despite the volatility in the market during the year, the determined efforts by the Company to improve its volumes saw it clock its best ever annual sales at 14.87 MT, a growth of 4.4% over 14.23 MT during FY'20.

Commenting on the performance, Smt. Soma Mondal, Chairman, SAIL said, "After the difficult market conditions during the initial months of the financial year, the Company adopted focused approach on improving its volumes, improving operational efficiencies, operating the facilities at optimum levels, deleveraging its balance sheet, reducing its inventory levels, etc. The multipronged strategy has helped us top the performances during the month, quarter as well as the year. The team effort by the SAIL employees helped in seizing the opportunity offered by the pick-up in the economic activities in the country especially the steel intensive sectors like infrastructure, construction, automobiles, etc."

In line with its focus on reducing the borrowings, the company has reduced its gross debts by around Rs.16150 crore to stand at Rs.35330 crore (provisional) as on 31st March 2021 vis-a-vis Rs.51481 crore as on 31st March 2020.

Shares of STEEL AUTHORITY OF INDIA LTD. was last trading in BSE at Rs.83.8 as compared to the previous close of Rs. 78.85. The total number of shares traded during the day was 6645361 in over 19166 trades.

The stock hit an intraday high of Rs. 84.4 and intraday low of 79.45. The net turnover during the day was Rs. 547044925.

Source : Equity Bulls

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