Q3 2024 Steel Authority of India Ltd Earnings Call Transcript
Key Points
- Steel Authority Of India Ltd (BOM:500113) registered its best-ever physical performance during the nine months of FY24, with saleable steel production increasing by 9% over the corresponding period last year (CPLY).
- The company achieved an EBITDA of INR 8,451 crores, marking a 41% improvement over CPLY.
- Profit before tax and profit after tax saw significant growth, standing at INR 2,359 crores and INR 1,722 crores respectively, compared to INR 1,157 crores and INR 854 crores during CPLY.
- The Indian steel industry is projected to grow at a rate of 7.7% during the calendar year 2024, providing a positive outlook for domestic consumption.
- The company is making steady progress in operational efficiencies, including reducing coal consumption, increasing the use of CDI, and improving blast furnace productivity.
- The NSR (Net Sales Realization) for mild steel during the period was INR 54,921, which is 6% lower than CPLY.
- Sales turnover for Q3 FY24 decreased by 7% over CPLY and 22% over the previous quarter.
- The company's debt increased to INR 29,000 crores as of January 31, 2024, despite higher sales.
- The saleable steel sales volume for Q3 FY24 stood at 3.813 MT, a reduction of 8% over CPLY and 20% over the previous quarter.
- The EBITDA for Q3 FY24 was INR 2,319 crores, a decline of 43% over the previous quarter.
Ladies and gentlemen, good day, and welcome to Steel Authority of India Q3 FY24 conference call hosted by Nuvama Wealth Management. (Operator Instructions) I now hand the conference over to Mr. Ashish Kejriwal from Nuvama Wealth Management. Thank you, and over to you, sir.
Thank you, Aditya. Good afternoon, everyone. On behalf of Nuvama Institutional Equities, we welcome you all for post results con-call of Steel Authority of India. We are delighted to have with us Mr. Praveen Nigam, Executive Director of Finance and Accounts, along with his team.
Now I would request Mr. Nigam for his opening remarks. And thereafter, we will open the floor for question and answer. Over to you, sir.
Yes. Thank you, Ashish-ji and good afternoon, everyone. Let me welcome all our investors and analysts who are joining this results con-call for the financial result of SAIL for the period ending
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