SAIL achieves 21% net sales revenue growth in Q2FY18 over CPLY
Steel Authority of India Ltd. (SAIL)registered 21% growth in net sales revenue which stood at Rs. 13,442 Crorefor the second quarter of FY17-18(Q2FY18) as against Rs. 11,080 in CPLY.SAIL’semphasis on increasing the share of high value products in its basket has begun to positively influence revenue earnings.SAIL recorded 4% growth in domestic sales in H1FY18 (Apr-Sept’17) with 21% improvement in sales of high value products like Cold Rolledand galvanized products. There has also been a sizeable30% improvement in sales of railway products during H1 FY18.
Registering positive EBITDA for the sixthconsecutive quarter, SAIL achieved EBITDA of Rs. 967 Crore before exceptional expenses in Q2FY18,recording agrowth of more than 400% against an EBITDA of Rs. 192 Croreduring CPLY, and postinga cash profit pre-depreciation and exceptional items of Rs. 323 Crore in Q2FY18. Notably, the EBITDA for Q2FY18 is higher than of the entire fiscal 16-17. SAIL’s EBITDA margin to net sales revenue ratio stands at 7.1% in Q2FY18 as against 1.7% in CPLY, indicating higher efficiencies across the production processes and value chain.