State-run Steel Authority of India (SAIL) reported a rise of 90.5 per cent in profit after tax (PAT) from Rs 2,022 crore in FY 2020 to Rs 3,850 crore in FY 2021. In Q4 FY 2021, the company reported PAT of Rs 3,444 crore as against Rs 2,725 crore in Q4 FY 2020, a growth of 26.4 per cent.
The company’s EBITDA was up by 22.8 per cent in FY 2021 at Rs 13,740 crore as against Rs 11,184 crore in FY 2020. However, EBITDA for Q4 FY 2021 was at Rs 6,473 crore, down by 6.4 per cent, as against Rs 6,917 crore in Q4 FY 2020.
In the case of profit before tax (PBT), in FY 2021, it surged by 117 per cent, from Rs 3,171 crore in FY 2020 to Rs 6,879 crore in FY 2021.
The turnover of the company was at Rs 68, 452 crore in FY 2021.
The company achieved highest-ever quarterly hot metal, crude steel and saleable steel production of 4.98 MT, 4.56 MT and 4.42 MT respectively during Q4FY21.
Soma Mondal, Chairman, SAIL said, “The production performance and financial performance of the company have improved hand-in-hand during the year.” She praised the team for their efforts to withstand and face the challenges posed by COVID-19 especially during COVID-19.
Mondal added, “The second half saw buoyancy in steel demand on the back of recovering economic activities.”
Steel Authority of India informed the exchange that the Board of Directors of the Company at its meeting held on June 10, 2021, have declared final dividend of Rs 1.80 per equity share of Rs 10 each (18 per cent of the paid up equity share capital of the Cornpany).