Q1 2027 Steel Authority of India Ltd Earnings Call Transcript
Key Points
- EBITDA grew over 50% year-over-year to INR4,356 crore, with margins at 16.7%, one of the best since FY22.
- EBITDA per tonne crossed INR10,000, reaching INR10,464 in Q1 FY27.
- Net debt-to-equity ratio improved to a multi-year low of 0.36.
- Iron ore sales from captive mines surged, contributing an additional INR400 crore in revenue and INR150 crore in profit.
- Finance costs decreased by INR100 crore due to better treasury management, with the cost of debt falling to 6.24%.
- Crude steel production fell to 4.8 million tonnes from 4.9 million tonnes due to planned capital repairs.
- Sales volume dropped by 7-8% year-over-year to 4.2 million tonnes, with finished goods inventory rising by 0.2 million tonnes.
- Imported coking coal costs surged to INR21,300 per tonne in Q1, up from INR18,100 in Q4 FY26.
- Net sales realization (NSR) is expected to decline by INR1,000-2,000 per tonne in Q2 due to seasonal monsoon weakness.
- Logistical constraints persist, limiting the company's ability to fully capitalize on iron ore sales opportunities.
Ladies and gentlemen, good day, and welcome to the Q1 FY27 earnings conference call of Steel Authority of India hosted by Nuvama Wealth Management. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Ashish Kejriwal from Nuvama Wealth Management. Thank you, and over to you, sir.
Thank you, Eric. Good morning, everyone. Sorry for the delay to start the conference call. But at the outset, we -- on behalf of Nuvama Institutional Equities, we welcome Dr. Ashok Panda, Chairman and Managing Director, along with additional Director of Finance charge of Steel Authority of India.
I would request Dr. Ashok Panda to give his opening remarks, and then we can open the floor for Q&A. Over to you, sir.
Thank you very much, Mr. Ashish Kejriwal.
Good morning, everyone. I welcome all our investors and analysts who are joining
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