Steel Authority of India limited’s (SAIl) Crude Steel productions increased up by 10 per cent in Q4 FY15. SAIl produced 3.72 million tonnes (MT) of crude steel in Q4 which was 10% higher as compared to 3.38 MT over the corresponding period last year (CPlY). The audited financial result of SAIl for the financial year 2014-15 was taken on record by its Board of Directors on Friday.
The profit After Tax (PAT) in Q4 FY15 was Rs334 crores against Rs 453 crores CPlY. At a time when the market conditions were challenging, SAIl has maintained its output and braved the headwinds by improved production, better techno-economic parameters and strategic policy initiatives. In FY’15, SAIl achieved the highest ever concast production at 10.34 MT with a growth of 6 percent over the previous best of 9.8 MT achieved last year. The coke rate and specific energy consumption also recorded best ever figures at 504 kg/thm and 6.52 Gcal/tcs respectively in FY’15.
The PAT for FY’15 stood at Rs2,093 crores as against Rs2,616 crores corresponding period last year (CPlY). SAIl’s gross turnover for FY’15 was Rs50,627 crores compared to Rs51,866 in FY’14. The net-worth of the company as on 31.03.2015 was Rs43,505 crores as against Rs42,666 crores on 31.03.2014. SAIl achieved a higher EBIDTA of 15% in FY’15 y-o-y excluding the exceptional item from M/s Vale during the previous financial year on account of arbitration award in favor SAIl.
SAIl after completion of its modernization and expansion programme in Rourkela Steel Plant and IISCO Steel Plant started their integrated operations. During FY 2014-15, projects worth around Rs10,000 crores were operationalised which includes the state-of-the-art 4160 cubic meter Blast Furnace Kalyani at IISCO steel plant.