SAIL Reports Net Profit of INR 3850 Crore in 2020-21
Steel Authority of India Limited has announced the company’s annual performance for the financial year FY 2020-21. SAIL Chairperson Ms Soma Mondal said “The production performance and financial performance of the company have improved hand-in-hand during the year. ‘Team-SAIL’ worked committedly notwithstanding severe and unforeseen challenges posed by the pandemic of Covid-19 especially during the first half. The second half saw buoyancy in steel demand on the back of recovering economic activities. With the government also putting thrust on infrastructure spending, we focused on scaling up market driven products along with improvement in operational efficiency, which helped the company deliver a noteworthy performance”.
Key highlights of SAIL’s performance in FY 2020-21
Best ever annual sales at 14.94 million tonnes, up 5% YoY
Turnover of INR 68452 crore, up 12 YoY
EBITDA of INR 13740 crore, up 23% YoY
Profit After Tax of INR 3850 crore, up 90% YoY
Net debt decreased by INR 16,131 crore to INR 35,350 crore