SAIL Q-3 SALES UP 5%, SAIL declares 16% interim dividend

City Name: 
New Delhi
Release Date: 
Tue, 02/12/2013 - 12:39

New Delhi: In Oct-Dec’12 quarter, total sales by SAIL grew 5.1% and production of saleable steel was up 1.8 % compared to CPLY. With a renewed thrust on operational improvements, techno-economic parameters in Q3FY13 registered significant improvements compared to CPLY, with Blast Furnace productivity up 3.9 %, energy consumption down 2.1% and coke rate down 1.2 %.

Maharatna Steel Authority of India Limited (SAIL)s profit before tax (PBT) and Profit after tax (PAT) in Q3FY13 were Rs.702 crore and Rs 484 crore respectively, as against Rs 904 crore and Rs 632 crore in CPLY. Sales turnover achieved by the company in Oct-Dec’12 at Rs.11801 crore was higher by 1% than Rs 11,686 achieved in CPLY. Lower NSR due to a subdued market and increase in royalty of raw materials, impacted the profitability of the company, which was offset by various management initiatives.

SAIL Board approved interim dividend for its shareholders at 16 % of the company's paid-up capital, as against the interim dividend of 12% last year. This was declared while announcing the Q3FY13 results of Maharatna Steel Authority of India Limited (SAIL) today.

The cumulative net worth of the company in Apr-Dec.’12 period, increased from Rs. 38,811 crore as on 31.03.2012 to Rs. 40,771 crore as on Rs. 31.12.12. In 9MFY13, gross turnover at Rs 35,690 crores was marginally higher than Rs 35,563 crores achieved in CPLY. With focus on enriching the product-mix, share of value added products in April-Dec’12 increased to 42% compared to 39.7% in the same period of previous year.

The April-December 2012 period, saw development of new products in the company. SAIL Bhilai Steel Plant supplied special soft iron magnetic plates for the prestigious India-based Neutrino Observatory (INO) project of Bhabha Atomic Research Centre (BARC). SAIL plants at Bokaro and Salem started production of IS 2062 E450 and E 350 HR Coils tailor-made for Indian Railways.

During the current financial year, significant progress was made in the modernisation & Expansion projects, especially at Rourkela (RSP) and IISCO (ISP) Steel Plants. At RSP, the new sinter plant has commenced production. The new Coke oven Battery and the 4060 m3 Blast furnace at this plant are also ready and likely to commence production in a couple of months. At ISP, despatches from the new Sinter Plant to Bokaro Steel Plant have already commenced. The new Coke Oven Battery, the Power & Blowing Station and the Wire Rod Mill are also ready for commencing operations from this month itself at Burnpur.

Chairman, SAIL Mr. C.S.Verma remarked, “2013 is a crucial year for SAIL, with new capacities coming up in its plants. With strong signals of growing investment in infrastructure SAIL is well positioned to benefit from the growth phase of the economy and steel industry in near future.”

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