New Delhi: Steel Authority of India Limited (SAIL) has declared its financial results for the quarter and year ending 31st March, 2022 (FY ’22). During FY ’22, the company has clocked its best-ever performance in production and sales while achieving an all-time high revenue from operation of Rs 1,03,473 Crore and EBITDA of Rs 22,364 crore.

This performance, backed by an uptick in steel demand and positive business outlook, is an outcome of collaborative and concerted efforts for enhancing production and improving techno-economics parameters while seizing possible opportunities in the marketplace. Its remarkable improvement in financial performance has been attributed to robust operational performance.

Sharing of profit with shareholders, the company recommended Rs 2.25 as final dividend for FY’22. SAIL declared the highest ever dividend in FY’22, that is, Rs 8.75 per share including the already paid two interim dividends for FY’22. It has supplied steel for various projects of the national importance like Central Vista Delhi, Mumbai-Ahmedabad High Speed Rail, Delhi-Meerut RRTS, Polavaram Irrigation project, Kaleshwaram Irrigation Project, Purvanchal Expressway, and several Metro Rail projects across the country.

This record-breaking performance in FY’22 is a result of synergy across the organization. However, the fourth quarter could not be fully insulated from the unprecedented rise in input costs, especially the price rise of imported coking coal on account of various reasons, said SAIL in a statement.

Notwithstanding the challenges, the company has taken several proactive steps to contain costs. Going forward, the company has plans to meet the twin challenges of higher input costs and market price volatility by undertaking various measures for continual improvement in its processes and products basket, added SAIL. /BI/