SAIL grows 58 percent in Q2 EBIDTA

The profit before tax (PBT) of Rs. 751 crore in Q2 FY’15 is higher by 124 percent as compared to the previous year, excluding the exceptional item of Rs. 1056 crore from M/s Vale in August, 2013 on account of arbitration award in favour of SAIL.  

The unaudited financial results of SAIL for the quarter July-Sept’14 was taken on record by its Board of Directors on Friday. 

During the quarter, SAIL achieved a turnover of Rs. 12,934 crore which is 1 percent higher than CPLY. 

The net worth of the company increased to Rs 43,622 crore as on September 30, 2014 - an increase of Rs. 956 crore from March 31, 2014.

Improvement in performance in EBIDTA was helped by factors such as enhanced production of value added steel, better techno-economic parameters along with improvement in net sales realization and reduction in the input cost, a statement said.  

With respect to the modernization and expansion programme, SAIL has already operationalized facilities worth Rs. 27,500 crore till now.

Commencement of integrated operations of 2.5 MTPA new steel plant at Burnpur is also slated from November 2014 with the lighting-up of 4060 m3 state-of-the-art blast furnace here.   This would be the second such large volume Blast furnace in SAIL - after the first one operationalized in Rourkela Steel Plant in August, 2013.

“SAIL is focused on commissioning balance modernization facilities at the earliest and ramping up production from the operationalized units.  It is heartening that capacity addition of SAIL is fructifying at a time when the country is witnessing improved economic sentiments and renewed thrust on infrastructure building, which will lead to increased demand of steel,” said SAIL chairman C.S. Verma.