Page 43 - Sept-2020-Issue

SAIL Maintains Profitability during FY’20;

Earns more than Rs. 2000 Cr. Net Profit

teel Authority of India Limi- Chairman, SAIL said "SAIL has
ted (SAIL) announced its continued to earn profit con-
Sfinancial results for the FY secutively for two years de-
2019-20 (FY’20). SAIL has earned spite the challenging times. The
a profit before tax (PBT) of Rs Government’s supportive poli-
3170.66 crore leading to profit af- cies have played a pivotal role
ter tax (PAT) of Rs 2021.54 crore in in maintaining the profitability
FY’20. This profit has been earned of the company. The company is
inspite of the challenging market continually striving to improve
conditions including the onset of its performance by increasing
Corona virus pandemic. sales, share of value-added and
In FY’20, the company made a special steels and new products
turnover of Rs 61024.88 crore and and aggressive cost optimiza-
its EBITDA per tonne of saleable tion on a continual basis. The
steel improved from Rs 7284 in mr. anil Kumar Chaudhary Government’s focus on ‘Atma
FY’19 to Rs 7869 in FY’20. The Chairman, SAIL Nirbhar Bharat’ and ‘Vocal for
company’s EBITDA/ turnover Local’ will aid in boosting do-
figure stood at 18.35 percent in Company’s strategies to increase mestic steel consumption. SAIL is
FY’20 in comparison to a figure of market reach led SAIL to export already scaling up its production
15.52 percent CPLY. Along with 1.18 MT in FY’20, making it the in tandem with the improving
this, SAIL also achieved the best highest ever exports with 54 per- market demand and is commit-
ever 14.23 million tonnes (MT) cent growth over CPLY. ted to continuously enhance its
annual sales during FY’20. The Mr. Anil Kumar Chaudhary, performance".

NRL Records Impressive First

Quarter Results Despite Pandemic

peration in Numaligarh also process around 8.1 TMT Mr. S. K. Barua said, “We are
Refinery is now almost of crude oil imported from making all out efforts to sus-
Oback to normal. During Petronas, Malaysia during the tain our normal refinery opera-
the first quarter, crude through- quarter. The LPG bottling plant tion ensuring safety of all our
put was 627 TMT which was has been working on 16 hours employees and contractual staff
around 8 percent lower than basis in 2 shifts to meet the grow- despite bottlenecks encountered
the corresponding period in ing demand of this clean cooking due to COVID-19 pandemic. We
the previous year. The fall in fuel in NE. NRL has been able to are trying to front load some of
sale of Petrol and Diesel was successfully implement its policy our Capex in the next couple of
only marginal to the extent of 9 of “Work from Home” by lever- months as our project activities
percent despite constraints of aging its network infrastructure. at all sites have started so that we
lockdown in the face of COVID-19 Commenting on the 1 quar- are able to catch up our annual
st
pandemic. The refinery could ter operation, NRL MD, targets”.

Kaleidoscope September, 2020 43