Crude steel production up by 5.2%
Steel Authority of India Limited (SAIL) recently declared its financial results for the quarter and year ending March 31st, 2024.
During FY 2023-24, the Company achieved its best ever performance in production and sales. The crude steel production and sales volume registered a growth of 5.2% and 5.1% respectively during FY’24 over CPLY.
The Revenue from Operations for the Company has been the highest ever during FY’24. This was the third consecutive year when the Revenue from Operations crossed the coveted level of Rs. 1,00,000 crore.
The Company has recommended a final dividend of Rs. 1 per equity share i.e., 10% of face value for the Financial Year 2023-24, subject to the approval of the shareholders at the AGM. The Company had earlier paid an interim dividend of Rs. 1 per equity share during the year.
Commenting on the results, Chairman, SAIL said, “The Indian Steel Markets have remained quite robust showcasing continual growth in demand. SAIL has been taking various initiatives towards increasing volumes, adding value-added products to its product basket, and improving an efficiency level which is reflected in the improved physical performance year on year.
The Company will continue to work on improving its performance further to tap into the buoyancy in the growing Indian Steel Market”. EBITDA margin for FY 24 was Rs 12,280 crore as against Rs 9379 crore for FY 23.
The PAT of the Q4FY24 stood at Rs 1011 crore and Rs 1049 crore for the corresponding previous year. The crude steel production has been amounted to 5.07 MT for Q4 of FY24 said the release.
