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Steel Authority of India soars on registering 4.27 MT sales in Q4FY21

Steel Authority of India is currently trading at Rs. 87.55, up by 3.75 points or 4.47% from its previous closing of Rs. 83.80 on the BSE.

The scrip opened at Rs. 85.85 and has touched a high and low of Rs. 88.65 and Rs. 85.85 respectively. So far 1479123 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 88.65 on 05-Apr-2021 and a 52 week low of Rs. 21.50 on 03-Apr-2020.

Last one week high and low of the scrip stood at Rs. 88.65 and Rs. 78.10 respectively. The current market cap of the company is Rs. 34613.80 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 17.07% and 7.86% respectively.

Steel Authority of India (SAIL) has clocked its best ever quarterly sales at 4.27 million tonnes (MT) during the March quarter of the last fiscal year (Q4FY21), up 14 percent over the year-ago period. The company had clocked 3.74 MT sales and 4.31 MT crude steel output during the January-March quarter of the fiscal 2019-20. The domestic steel giant’s crude steel production too increased by 6 percent during the quarter to 4.55 MT.

The company adopted focussed approach on improving its volumes, improving operational efficiencies, operating the facilities at optimum levels, de-leveraging its balance sheet, reducing its inventory levels, etc. The multi-pronged strategy has helped us top the performances during the month, quarter as well as the year.

SAIL is India’s largest steel producing company. The company is among the five Maharatnas of the country’s Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.

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