The First Woman SAIL Chairperson Soma Mondal while addressing 49th Annual General Meeting underlined some of the important events and highlights of SAIL for the Company’s shareholders. Describing FY’21 as the year of ‘Growth and Scaling newer heights’ for SAIL, she said SAIL posted its highest ever EBITDA of Rs 13740 Crore which was higher by ~23% over CPLY. The factors which helped improve profitability included higher sales of secondary products, sale of iron ore fines, lower usage of other raw materials, improvement in techno-economic parameters, benefit in stores and spares expenses, decreased purchased power rates, reduction in interest charges, higher dividend income and forex exchange gain among others. The Profit Before Tax (PBT) of the company stood highest in the last ten years. The company’s borrowings came down to Rs 35350 with a reduction of more than Rs 16000 Crore consequently improving the debt-equity ratio to 0.87 on 31.03.2021 vis-à-vis 1.36 as on 31.03.2020. Talking on the growth plans of the Company, Soma Mondal told the shareholders that with the improved leverage position, the company is ready to move into the next phase of expansion.
Citing the various challenges faced by the Company due to the ongoing COVID-19 Pandemic, the shareholders were informed about the measures taken by the Company to counter the impact of this pandemic. Taking pro-active actions, the Company reworked its plans and strategies to sustain all round activities.
Outlining some of those, she said, SAIL made optimal utilization of the operational facilities instead of operating greater number of facilities at sub-optimal level. Company focused on continuing its operations with minimum disruptions, but also ensured this was achieved without compromising the safety of employees and population in the nearby areas. In fact, the Company was a front-runner in partnering the Nation in its fight against Covid-19 Pandemic.
The Sail Chairperson further highlighted the various initiatives undertaken by SAIL were Development of Medical infrastructure for handling CoVID-19 pandemic as well as augmenting these facilities during the second wave, Setting up covid care units with facilities of gaseous oxygen direct supplied from the plants at various plant locations , Developing CoVID-19 testing facilities like RAT, RTPCR, TRU-NAT at SAIL hospitals in coordination with respective State Governments. The shareholders were informed about the regular initiatives being taken by SAIL to increase its presence in different areas by targeting defined market segments. The company is also expanding the 2-Tier and 1-Tier distribution network across the country to strengthen its retail presence.
