SAIL contributed to every important project in FY19 Stands firm to nation building

New Delhi. Addressing the shareholders of Steel Authority of India Ltd. (SAIL) on Company’s 47th Annual General Meeting ,Shri Anil Kumar Chaudhary, Chairman, SAIL said the financial year 2018-19 has been a turnaround year for the Company. He said that “SAIL earned a Profit after Tax (PAT) on standalone basis at Rs 2,179 Crore in FY’19 as against loss of Rs 482 Crore in the previous year FY’18. On consolidated basis, the Profit after Tax stood at Rs 2,349 Crore for FY’19 as against loss of Rs 281 Crore in FY’18. The change in fortune has been a result of determined efforts and strategic initiatives taken by the Company which helped to improve the EBITDA in FY’19 to Rs 10,283 crore, almost double of the performance of Rs 5,184 crore in FY’18.” In the AGM, SAIL declared a dividend of 5% for the financial year 2018-19. 

 

Some of the highlights were: 

 

• Increase in Saleable Steel production (7%) 

• Growth in sales turnover at Rs. 66,267 Crore, 16% over the previous year 

• Improvement in operational efficiencies resulting from higher production through concast route which grew by 8% over FY18 

• Improved product-mix 

• Reduction in Coke Rate (which improved 3% in H2 over H1 of FY19) 

 

On this occasion, Shri Chaudhary also said that “SAIL has associated itself with every major national infrastructure project of the Country.