SAIL declares financial results for FY’22, Revenue crosses Rupees One Lakh Crore; achieves best ever profitability

Press Release
New Delhi

New Delhi, 23rd May, 2022: Steel Authority of India Limited (SAIL) has declared its financial results today 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-economics parameters while seizing possible opportunities in the market place.

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 of 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.

 

 

                                                                                                                                                                                                                     Date: 23.05.2022

Press Release No
SAIL/PR/03/2022-23