Must Read

SAIL records best quarterly and yearly production and sales

By IndianMandarins- 04 Apr 2021
261

sail-records-best-quarterly-and-yearly-production-and-sales

New Delhi (04.04.2021): SAIL has reported excellent Q4FY21 production and sales figures.

The crude steel production volume for the quarter stood at 4.55 million tonnes (MT), up 6 percent year-on-year (YoY) and 4 percent quarter-on-quarter (QoQ). The sales volume for Q4FY21 hit 4.27 MT, up 14 percent YoY and 3 percent QoQ, SAIL said in a press release.

Aided by a healthy Q4FY21 performance, SAIL reported its best-ever annual sales volume during FY21. FY21 sales volume totaled 14.87 MT versus 14.23 MT in FY20, a growth of 4.4 percent YoY.

The management said after the difficult market conditions during the initial months of the financial year, the company adopted a focused approach on improving its volumes and operational efficiencies, operating the facilities at optimum levels, deleveraging its balance sheet, reducing its inventory levels, etc.

"The multipronged strategy has helped us top the performances during the month, quarter, as well as, the year. The team effort by the SAIL employees helped in seizing the opportunity offered by the pick-up in the economic activities in the country especially the steel-intensive ·sectors like infrastructure, construction, automobiles, etc," the management added.

In line with its focus on reducing the borrowings, the company has reduced its gross debts by around ₹16,150 crores to stand at ₹35,330 crores (provisional) as of March 31, 2021, versus ₹51,481 crores as of March 31, 2020.

In the past week, the stock of SAIL has outperformed the market by surging 22 percent as against a 2.5 percent gain in the S&P BSE Sensex. In the last six months, it has zoomed 156 percent as compared to a 28 percent rally in the benchmark index.

free stat counter