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SAIL FY'20 results: Key highlights

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BigMint Bureau

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11 Jul 2020, 12:11 IST

Steel Authority of India Ltd (SAIL) has announced its financial results of the fiscal year FY'20. The major highlights of the results are as follows:

The steelmaker reported to have maintained profitability during FY'20, earning a total profit after tax of INR 2,021.54 Crore, despite challenging market conditions amid COVID-19 outbreak in India.
The company made a turnover of INR 61,024.88 Crore and its EBITDA/t of saleable steel improved from INR 7,284 in FY'19 to INR 7,869 in FY'20.
It's EBITDA/turnover figure stood at 18.35% in FY'20 in comparison to a figure of 15.52% last year.

Crude Steel Production

SAIL produced 16.15 mn t crude steel and 15.08 mn t of salebale steel during FY'20 which is the best ever figure so far.

Exports

Along with this, it also achieved the best ever 14.23 mn t annual sales during FY'20, including 1.18 mn t export sales which is the highest ever export volumes by the company with 54% y-o-y growth.

Mining

In FY'20, it mined a total of 32.406 mn t of iron ore, fluxes (limestone and dolomite), coking coal and non-coking coal.

SAIL Chairman Shri Anil Kumar Chaudhary commented, "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. The company is continually striving to improve its performance by increasing sales, share of value-added & special steels and new products and aggressive cost optimization on a continual basis."

SAIL is already scaling up its production in tandem with the improving market demand and is committed to continuously enhance its performance, he added.