SAIL Declares Financial Results for FY’24 : Net Profit Rs. 2733 Cr.

New Delhi, 21 May 2024: Steel Authority of India Limited (SAIL) has declared its financial results today for the quarter and year ending 31st March, 2024.

Performance of FY 24 (Standalone) at a glance:

 UnitFY 22-23FY 23-24
Crude Steel ProductionMillion Tonne18.2919.24
Sales VolumeMillion Tonne16.2017.02
Revenue from OperationsRs. Crore1,04,4471,05,375
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA)Rs. Crore9,37912,280
Profit Before Exceptional Items and TaxRs. Crore2,3794,529
Exceptional ItemsRs. Crore258(841)
Profit Before Tax (PBT)Rs. Crore2,6373,688
Profit After Tax (PAT)Rs. Crore1,9032,733

Performance of Q4 FY 24 (Standalone) at a glance:

 UnitQ4 22-23Q3 23-24Q4 23-24
Crude Steel ProductionMillion Tonne4.954.755.02
Sales VolumeMillion Tonne4.683.814.56
Revenue from OperationsRs. Crore29,13123,34527,958
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA)Rs. Crore3,4012,3193,829
Profit Before Exceptional Items and TaxRs. Crore1,5203841,831
Exceptional ItemsRs. Crore(40)76(502)
Profit Before Tax (PBT)Rs. Crore1,4804611,329
Profit After Tax (PAT)Rs. Crore1,0493311,011

During FY 2023-24, the Company has achieved its best ever performance in production and sales. The crude steel production and sales volume have 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 Operation 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 efficiency levels 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”.  

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