SAIL's FY22 net profit soars to Rs12,015 cr; revenue tops Rs1.03 lakh crore
26 May 2022
State-run steelmaker Steel Authority of India Limited (SAIL) has reported profit after tax (PAT) of Rs12,015 crore for the quarter and year ended 31 March 2022. SAIL also achieved an all-time high revenue from operation of Rs1,03,473 crore and EBITDA of Rs22,364 crore during FY’22
The company clocked its best-ever performance in production and sales, on the back of an uptick in steel demand and positive business outlook. SAIL said it has been taking collaborative and concerted efforts for enhancing production and improving techno-economic parameters while seizing possible opportunities in the market place.
SAIL said it is focused on proactive stakeholder engagement, which includes sharing of profit with shareholders. The company recommended Rs2.25 as final dividend for FY’22. Including the two already paid interim dividends for FY’22m the total bonus declared for the year works out to Rs8.75 per share, the highest ever dividend declared by SAIL so far.
SAIL emerged as the topmost buyer on GeM portel 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.
Besides 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, however, could not fully insulate the fourth quarter 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.