|
Consolidated net sales (including
other operating income) of Steel Authority of India has declined 4.02% to Rs
27958.52 crore. Sales of Bhilai Steel
Plant segment has gone up 6.05% to Rs 9,699.55 crore (accounting for 31.07% of
total sales). Sales of Durgapur Steel
Plant segment has gone down 10.31% to Rs 3,245.95 crore (accounting for 10.40%
of total sales). Sales of Rourkela Steel
Plant segment rose 2.68% to Rs 6,978.85 crore (accounting for 22.36% of total
sales). Sales of Bokara Steel Plant
segment has gone down 4.85% to Rs 6,528.83 crore (accounting for 20.92% of
total sales). Sales of IISCO Steel Plant
segment has gone down 10.47% to Rs 3,379.09 crore (accounting for 10.83% of
total sales). Sales of Alloy Steel Plant
segment has gone up 15.51% to Rs 300.96 crore (accounting for 0.96% of total
sales). Sales of Salem Steel Plant
segment has gone down 10.75% to Rs 622.28 crore (accounting for 1.99% of total
sales). Sales of Visvesvaraya Iron Steel
Plant segment has gone down 27.56% to Rs 46.32 crore (accounting for 0.15% of
total sales). Sales of segment has gone
up 25.57% to Rs 411.69 crore (accounting for 1.32% of total sales). Inter-segment sales rose Rs 2,417.37 crore to
Rs 3,255.00 crore.
Profit before interest, tax and
other unallocable items (PBIT) has jumped 22.01% to Rs 2,585.73 crore. PBIT of Bhilai Steel Plant segment rose
112.92% to Rs 1,336.03 crore (accounting for 51.67% of total PBIT). PBIT of Durgapur Steel Plant segment fell
41.08% to Rs 176.00 crore (accounting for 6.81% of total PBIT). PBIT of Rourkela Steel Plant segment fell
32.08% to Rs 292.15 crore (accounting for 11.30% of total PBIT). PBIT of Bokara Steel Plant segment fell
21.95% to Rs 243.05 crore (accounting for 9.40% of total PBIT). PBIT of IISCO Steel Plant segment fell 80.15%
to Rs 72.99 crore (accounting for 2.82% of total PBIT). PBIT of Alloy Steel Plant segment fell 16.30%
to Rs -30.83 crore (accounting for -1.19% of total PBIT). PBIT of Salem Steel Plant segment fell 47.57%
to Rs -63.94 crore (accounting for -2.47% of total PBIT). PBIT of Visvesvaraya Iron Steel Plant segment
fell 16.37% to Rs -7.96 crore (accounting for -0.31% of total PBIT). PBIT of segment rose 254.00% to Rs 568.24
crore (accounting for 21.98% of total PBIT).
PBIT margin of Bhilai Steel Plant
segment rose from 6.86% to 13.77%. PBIT
margin of Durgapur Steel Plant segment fell from 8.25% to 5.42%. PBIT margin of Rourkela Steel Plant segment
fell from 6.33% to 4.19%. PBIT margin of
Bokara Steel Plant segment fell from 4.54% to 3.72%. PBIT margin of IISCO Steel Plant segment fell
from 9.74% to 2.16%. PBIT margin of
Alloy Steel Plant segment fell from negative 10.18% to negative 10.24%. PBIT margin of Salem Steel Plant segment fell
from negative 6.21% to negative 10.28%.
PBIT margin of Visvesvaraya Iron Steel Plant segment fell from negative
10.70% to negative 17.18%. PBIT margin
of segment rose from 48.96% to 138.03%.
Overall PBIT margin rose from 6.72% to 8.28%.
Operating profit margin has jumped
from 10.04% to 12.46%, leading to 19.10% rise in operating profit to Rs
3,482.67 crore. Raw material cost as a %
of total sales (net of stock adjustments) increased from 52.19% to 52.95%. Employee cost decreased from 12.08% to
9.96%. Other expenses fell from 25.46%
to 24.90%.
Other income rose 9.69% to Rs 313.42
crore. PBIDT rose 18.26% to Rs 3796.09
crore. Provision for interest rose
24.21% to Rs 642.19 crore.
PBDT rose 17.12% to Rs 3153.9
crore. Provision for depreciation fell
0.65% to Rs 1355.82 crore. Fixed assets
increased to Rs 77,077.82 crore as of 31 March 2024 from Rs 76,913.38 crore as
of 31 March 2023. Intangible assets
declined from Rs 1,521.04 crore to Rs 1,488.86 crore.
Profit before tax grew 35.38% to Rs
1,798.08 crore. Share of profit/loss was
46.92% lower at Rs 145.46 crore.
Extraordinary items were decreased to Rs -502.34 crore. Provision for tax was expense of Rs 315.52
crore, compared to Rs 402.63 crore.
Effective tax rate was 21.89% compared to 25.78%.
Minority interest was nil in both
the periods. Net profit attributable to
owners of the company decreased 2.89% to Rs 1,125.68 crore.
Equity capital stood at Rs 4,130.53
crore as of 31 March 2024 to Rs 4,130.53 crore as of 31 March 2023. Per share face Value remained same at Rs
10.00.
Promoters’ stake was 65.00% as of 31
March 2024 ,compared to 65.00% as of 31 March 2023.
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".
Full year results analysis
Net sales (including other operating
income) of Steel Authority of India has increased 0.89% to Rs 105378.33
crore. Sales of Bhilai Steel Plant
segment has gone up 9.12% to Rs 33,298.07 crore (accounting for 28.79% of total
sales). Sales of Durgapur Steel Plant
segment has gone down 6.08% to Rs 12,445.35 crore (accounting for 10.76% of
total sales). Sales of Rourkela Steel
Plant segment rose 2.61% to Rs 26,269.37 crore (accounting for 22.71% of total
sales). Sales of Bokara Steel Plant
segment has gone down 2.23% to Rs 25,755.25 crore (accounting for 22.27% of
total sales). Sales of IISCO Steel Plant
segment has gone down 6.08% to Rs 12,699.33 crore (accounting for 10.98% of
total sales). Sales of Alloy Steel Plant
segment has gone up 18.96% to Rs 1,190.24 crore (accounting for 1.03% of total
sales). Sales of Salem Steel Plant
segment has gone up 27.90% to Rs 2,406.75 crore (accounting for 2.08% of total
sales). Sales of Visvesvaraya Iron Steel
Plant segment has gone down 47.85% to Rs 162.10 crore (accounting for 0.14% of
total sales). Sales of Others segment
has gone down 0.73% to Rs 1,434.80 crore (accounting for 1.24% of total
sales). Inter-segment sales rose Rs
9,422.34 crore to Rs 10,282.93 crore.
Profit before interest, tax and
other unallocable items (PBIT) has jumped 57.89% to Rs 7,376.51 crore. PBIT of Bhilai Steel Plant segment rose
271.84% to Rs 3,548.54 crore (accounting for 48.11% of total PBIT). PBIT of Durgapur Steel Plant segment rose
12.36% to Rs 564.60 crore (accounting for 7.65% of total PBIT). PBIT of Rourkela Steel Plant segment rose
18.83% to Rs 1,415.53 crore (accounting for 19.19% of total PBIT). PBIT of Bokara Steel Plant segment rose
12.07% to Rs 1,365.89 crore (accounting for 18.52% of total PBIT). PBIT of IISCO Steel Plant segment fell 47.09%
to Rs 295.25 crore (accounting for 4.00% of total PBIT). PBIT of Alloy Steel Plant segment rose 41.25%
to Rs -71.55 crore (accounting for -0.97% of total PBIT). PBIT of Salem Steel Plant segment fell 11.97%
to Rs -227.36 crore (accounting for -3.08% of total PBIT). PBIT of Visvesvaraya Iron Steel Plant segment
rose 3.95% to Rs -48.57 crore (accounting for -0.66% of total PBIT). PBIT of Others segment fell 14.18% to Rs
534.18 crore (accounting for 7.24% of total PBIT).
PBIT margin of Bhilai Steel Plant
segment rose from 3.13% to 10.66%. PBIT
margin of Durgapur Steel Plant segment rose from 3.79% to 4.54%. PBIT margin of Rourkela Steel Plant segment
rose from 4.65% to 5.39%. PBIT margin of
Bokara Steel Plant segment rose from 4.63% to 5.30%. PBIT margin of IISCO Steel Plant segment fell
from 4.13% to 2.32%. PBIT margin of
Alloy Steel Plant segment rose from negative 12.17% to negative 6.01%. PBIT margin of Salem Steel Plant segment rose
from negative 10.79% to negative 9.45%.
PBIT margin of Visvesvaraya Iron Steel Plant segment fell from negative
16.27% to negative 29.96%. PBIT margin
of Others segment fell from 43.07% to 37.23%.
Overall PBIT margin rose from 4.10% to 6.38%.
Operating profit margin has jumped
from 7.70% to 10.58%, leading to 38.68% rise in operating profit to Rs
11,149.29 crore. Raw material cost as a
% of total sales (net of stock adjustments) decreased from 56.73% to
53.07%. Employee cost decreased from
11.01% to 10.82%. Other expenses rose
from 24.92% to 25.85%.
Other income rose 12.27% to Rs
1066.96 crore. PBIDT rose 35.89% to Rs
12216.25 crore. Provision for interest
rose 21.42% to Rs 2473.86 crore. Loan
funds rose to Rs 36,322.65 crore as of 31 March 2024 from Rs 30,773.43 crore as
of 31 March 2023. Inventories rose to Rs
32,721.45 crore as of 31 March 2024 from Rs 27,764.90 crore as of 31 March
2023. Sundry debtors were higher at Rs
8,355.37 crore as of 31 March 2024 compared to Rs 5,389.97 crore as of 31 March
2023. Cash and bank balance rose to Rs
672.95 crore as of 31 March 2024 from Rs 550.64 crore as of 31 March 2023. Investments rose to Rs 4,589.02 crore as of
31 March 2024 from Rs 4,185.25 crore as of 31 March 2023 .
PBDT rose 40.13% to Rs 9742.39
crore. Provision for depreciation rose
6.34% to Rs 5278.37 crore. Fixed assets
increased to Rs 77,077.82 crore as of 31 March 2024 from Rs 76,913.38 crore as
of 31 March 2023. Intangible assets
declined from Rs 1,521.04 crore to Rs 1,488.86 crore.
Profit before tax grew 124.46% to Rs
4,464.02 crore. Share of profit/loss was
32.07% lower at Rs 438.63 crore.
Provision for tax was expense of Rs 995.14 crore, compared to Rs 715.91
crore. Effective tax rate was 24.50%
compared to 24.75%.
Minority interest was nil in both
the periods. Net profit attributable to
owners of the company increased 40.90% to Rs 3,066.67 crore.
Equity capital stood at Rs 4,130.53
crore as of 31 March 2024 to Rs 4,130.53 crore as of 31 March 2023. Per share face Value remained same at Rs
10.00.
Promoters’ stake was 65.00% as of 31
March 2024 ,compared to 65.00% as of 31 March 2023 .
Cash flow from operating activities
has turned positive Rs 2,910.88 crore for year ended March 2024 from negative
Rs 5,290.15 crore for year ended March 2023.
Cash flow used in acquiring fixed assets during the year ended March
2024 stood at Rs 4,710.69 crore, compared to Rs 3,930.74 crore during the year
ended March 2023.
Currently the shares of SAIL are
quoting at around Rs 172 at BSE.
|
Steel Authority of India : Consolidated Results
|
|
Particulars
|
2403 (03)
|
2303 (03)
|
Var.(%)
|
2403 (12)
|
2303 (12)
|
Var.(%)
|
|
Net Sales (including other
operating income)
|
27,958.52
|
29,130.66
|
-4
|
1,05,378.33
|
1,04,447.72
|
1
|
|
OPM (%)
|
12.46
|
10.04
|
|
10.58
|
7.7
|
|
|
OP
|
3,482.67
|
2,924.16
|
19
|
11,149.29
|
8,039.43
|
39
|
|
Other Inc.
|
313.42
|
285.73
|
10
|
1,066.96
|
950.36
|
12
|
|
PBIDT
|
3,796.09
|
3,209.89
|
18
|
12,216.25
|
8,989.79
|
36
|
|
Interest
|
642.19
|
517
|
24
|
2,473.86
|
2,037.47
|
21
|
|
PBDT
|
3,153.90
|
2,692.89
|
17
|
9,742.39
|
6,952.32
|
40
|
|
Depreciation
|
1355.82
|
1364.67
|
-1
|
5278.37
|
4963.54
|
6
|
|
PBT
|
1,798.08
|
1,328.22
|
35
|
4464.02
|
1988.78
|
124
|
|
Share of Profit/(Loss) from
Associates
|
145.46
|
274.04
|
-47
|
438.63
|
645.67
|
-32
|
|
PBT before EO
|
1943.54
|
1602.26
|
21
|
4902.65
|
2634.45
|
86
|
|
EO Income
|
-502.34
|
-40.42
|
999
|
-840.84
|
257.99
|
PL
|
|
PBT after EO
|
1441.2
|
1561.84
|
-8
|
4061.81
|
2892.44
|
40
|
|
Taxation
|
315.52
|
402.63
|
-22
|
995.14
|
715.91
|
39
|
|
PAT
|
1125.68
|
1159.21
|
-3
|
3066.67
|
2176.53
|
41
|
|
Minority Interest (MI)
|
0
|
0
|
-
|
0
|
0
|
-
|
|
Net profit
|
1125.68
|
1159.21
|
-3
|
3066.67
|
2176.53
|
41
|
|
EPS (Rs)*
|
#
|
#
|
|
8.9
|
4.8
|
|
|
Notes
|
|
* EPS is on current equity of Rs
4,130.53 crore, Face value of Rs 10, Excluding extraordinary items.
|
|
# EPS is not annualised
|
|
bps : Basis points
|
|
EO : Extraordinary items
|
|
Figures in Rs crore
|
|
Source: Capitaline Corporate
Database
|
|
Steel Authority of India : Consolidated Segment Results
|
|
|
% of (Total)
|
2403 (03)
|
2303 (03)
|
Var.(%)
|
% of (Total)
|
2403 (12)
|
2303 123)
|
Var.(%)
|
|
Sales
|
|
Bhilai Steel Plant
|
31
|
9,699.55
|
9,146.25
|
6
|
29
|
33,298.07
|
30,516.07
|
9
|
|
Durgapur Steel Plant
|
10
|
3,245.95
|
3,619.19
|
-10
|
11
|
12,445.35
|
13,250.48
|
-6
|
|
Rourkela Steel Plant
|
22
|
6,978.85
|
6,796.91
|
3
|
23
|
26,269.37
|
25,600.33
|
3
|
|
Bokara Steel Plant
|
21
|
6,528.83
|
6,861.82
|
-5
|
22
|
25,755.25
|
26,343.74
|
-2
|
|
IISCO Steel Plant
|
11
|
3,379.09
|
3,774.29
|
-10
|
11
|
12,699.33
|
13,520.93
|
-6
|
|
Alloy Steel Plant
|
1
|
300.96
|
260.54
|
16
|
1
|
1,190.24
|
1,000.55
|
19
|
|
Salem Steel Plant
|
2
|
622.28
|
697.23
|
-11
|
2
|
2,406.75
|
1,881.81
|
28
|
|
Visvesvaraya Iron Steel Plant
|
0
|
46.32
|
63.94
|
-28
|
0
|
162.1
|
310.86
|
-48
|
|
Others
|
1
|
411.69
|
327.86
|
26
|
1
|
1,434.80
|
1,445.29
|
-1
|
|
Total Reported Sales
|
100
|
31,213.52
|
31,548.03
|
-1
|
100
|
1,15,661.26
|
1,13,870.06
|
2
|
|
Less: Inter segment revenues
|
|
3,255.00
|
2,417.37
|
35
|
|
10,282.93
|
9,422.34
|
9
|
|
Net Sales
|
|
27,958.52
|
29,130.66
|
-4
|
|
1,05,378.33
|
1,04,447.72
|
1
|
|
PBIT
|
|
Bhilai Steel Plant
|
52
|
1,336.03
|
627.49
|
113
|
48
|
3,548.54
|
954.33
|
272
|
|
Durgapur Steel Plant
|
7
|
176
|
298.72
|
-41
|
8
|
564.6
|
502.49
|
12
|
|
Rourkela Steel Plant
|
11
|
292.15
|
430.11
|
-32
|
19
|
1,415.53
|
1,191.23
|
19
|
|
Bokara Steel Plant
|
9
|
243.05
|
311.39
|
-22
|
19
|
1,365.89
|
1,218.79
|
12
|
|
IISCO Steel Plant
|
3
|
72.99
|
367.71
|
-80
|
4
|
295.25
|
558.03
|
-47
|
|
Alloy Steel Plant
|
-1
|
-30.83
|
-26.51
|
-16
|
-1
|
-71.55
|
-121.79
|
41
|
|
Salem Steel Plant
|
-2
|
-63.94
|
-43.33
|
-48
|
-3
|
-227.36
|
-203.06
|
-12
|
|
Visvesvaraya Iron Steel Plant
|
0
|
-7.96
|
-6.84
|
-16
|
-1
|
-48.57
|
-50.57
|
4
|
|
Others
|
22
|
568.24
|
160.52
|
254
|
7
|
534.18
|
622.47
|
-14
|
|
Total PBIT
|
100
|
2,585.73
|
2,119.26
|
22
|
100
|
7,376.51
|
4,671.92
|
58
|
|
Less : Interest
|
|
642.19
|
517
|
24
|
|
2,473.86
|
2,037.47
|
21
|
|
Add: Other un-allcoable
|
|
-502.34
|
-40.42
|
999
|
|
-840.84
|
257.99
|
PL
|
|
PBT
|
|
1,441.20
|
1,561.84
|
-8
|
|
4,061.81
|
2,892.44
|
40
|
|