Steel Authority of India Ltd (SAIL) has posted its best-ever annual production and sales in FY22, resulting in highest-ever revenue of Rs 1.03 lakh crore for the period, the company said in a statement.
“During FY22, 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,” SAIL said.
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-economics parameters while seizing possible opportunities in the market place, the statement added.
The company’s profit before tax stood at Rs16,039 crore and profit after tax was Rs 12,015 crore during the fiscal.
SAIL is focused on proactive stakeholders’ engagement, which includes: sharing of profit with shareholders — company recommended Rs 2.25 as final dividend for FY22. It declared highest ever dividend in FY22 i.e. Rs. 8.75 per share including the already paid two interim dividends for the financial year.
The state-owned firm emerged as the top most buyer on GeM amongst all CPSEs in FY22, the company said. It 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.
The firm supplied liquid medical oxygen in excess of 1.3 lakh tonnes, majorly during second wave of COVID -19. SAIL plants set up separate Jumbo COVID care facilities, which increased COVID dedicated beds.
“This record-breaking performance in FY22 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 of various reasons,” the company said.
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, it said.
