Steel Authority of India Limited held its 49th Annual General Meeting through the virtual platform. SAIL Chairperson Ms Soma Mondal while addressing the shareholders describing 2020-21 as the year of ‘Growth and Scaling newer heights’ for SAIL. She said “SAIL posted its highest ever EBITDA of INR 13740 crore which was higher by 23% over CPLY. The factors which helped improve profitability included higher sales of secondary products, sale of iron ore fines, lower usage of other raw materials, improvement in techno-economic parameters, benefit in stores and spares expenses, decreased purchased power rates, reduction in interest charges, higher dividend income and forex exchange gain among others. The company’s borrowings came down to INR 35350 crore with a reduction of more than INR 16000 crore consequently improving the debt-equity ratio to 0.87 on 31.03.2021 vis-à-vis 1.36 as on 31.03.2020.”Talking on the growth plans of the company, Ms Mondal told the shareholders that with the improved leverage position, the company is ready to move into the next phase of expansion. It may be mentioned here that since inception SAIL has been contributing to nation building by supplying steel ranging from big projects of national significance and strategic importance to smallest of the retail consumers. During FY’21, SAIL effected supplies to projects like Katra to Banihal Tunnel project, BRTF Leh-Ladakh project, Leh Airport, Eastern Dedicated Freight Corridor Corporation, Lower Subansiri Hydel project in Assam, Agartala-Akhura Rail link project in Tripura among others. The shareholders were informed about the regular initiatives being taken by SAIL to increase its presence in different areas by targeting defined market segments. The company is also expanding the 2-Tier and 1-Tier distribution network across the country to strengthen its retail presence.
Steel Authority of India Limited held its 49th Annual General Meeting through the virtual platform. SAIL Chairperson Ms Soma Mondal while addressing the shareholders describing 2020-21 as the year of ‘Growth and Scaling newer heights’ for SAIL. She said “SAIL posted its highest ever EBITDA of INR 13740 crore which was higher by 23% over CPLY. The factors which helped improve profitability included higher sales of secondary products, sale of iron ore fines, lower usage of other raw materials, improvement in techno-economic parameters, benefit in stores and spares expenses, decreased purchased power rates, reduction in interest charges, higher dividend income and forex exchange gain among others. The company’s borrowings came down to INR 35350 crore with a reduction of more than INR 16000 crore consequently improving the debt-equity ratio to 0.87 on 31.03.2021 vis-à-vis 1.36 as on 31.03.2020.”Talking on the growth plans of the company, Ms Mondal told the shareholders that with the improved leverage position, the company is ready to move into the next phase of expansion. It may be mentioned here that since inception SAIL has been contributing to nation building by supplying steel ranging from big projects of national significance and strategic importance to smallest of the retail consumers. During FY’21, SAIL effected supplies to projects like Katra to Banihal Tunnel project, BRTF Leh-Ladakh project, Leh Airport, Eastern Dedicated Freight Corridor Corporation, Lower Subansiri Hydel project in Assam, Agartala-Akhura Rail link project in Tripura among others. The shareholders were informed about the regular initiatives being taken by SAIL to increase its presence in different areas by targeting defined market segments. The company is also expanding the 2-Tier and 1-Tier distribution network across the country to strengthen its retail presence.
