SAIL Oct-Dec sales grow 6% to 2.98mn tonne

Jan 02, 2014, 07.39 PM IST

Indian steel makers are increasingly looking at export markets for sales to offset the impact of rupee depreciation and lower their inventory levels in the face of poor domestic demand.

Tags  Steel Authority of India, Verma, steel makers, energy consumption

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SAIL Oct-Dec sales grow 6% to 2.98mn tonne

Indian steel makers are increasingly looking at export markets for sales to offset the impact of rupee depreciation and lower their inventory levels in the face of poor domestic demand.

Like this story, share it with millions of investors on M3

SAIL Oct-Dec sales grow 6% to 2.98mn tonne

Indian steel makers are increasingly looking at export markets for sales to offset the impact of rupee depreciation and lower their inventory levels in the face of poor domestic demand.

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Buoyed by increased sales in both domestic and export markets,  Steel Authority of India (SAIL) has clocked a six per cent rise during October-December period to 2.98 million tonne (MT). "The upward trend in performance in the last couple of months is an outcome of concerted efforts directed at sales improvement in both domestic and international markets," the public sector steel maker said in a statement today.

"Strategic focus on enhanced production especially of value-added products has resulted in sustained growth on production and sales front," it added. Exports of the company during the period went up by 122 percent to 1.77 lakh tonne, SAIL said, adding that production too rose by four percent over the same period last year.

Also Read: SAIL, RINL, MOIL to set up JV for ferro alloy plant

Indian steel makers are increasingly looking at export markets for sales to offset the impact of rupee depreciation and lower their inventory levels in the face of poor domestic demand. The domestic demand for steel in the country has grown by just 0.4 percent during the April-November period of current fiscal due to subdued demand from the end-use segments. SAIL said its sales in December grew by 14 percent to 1.13 MT compared to the same month last year. Total production during the month rose by 7 percent to 1.16 MT.

"On techno-economic front, coke rate and energy consumption improved by one per cent each in the month of December, 2013 over the same month last year," SAIL said. Meanwhile, the company said its Chairman C S Verma in his New Year address to employees has laid emphasis on the need for excellence in areas like improving quality of inputs and enlarging share of value added products for higher net sales realisations.
 

SAIL stock price

On January 02, 2014, Steel Authority of India closed at Rs 71.15, down Rs 1.75, or 2.4 percent. The 52-week high of the share was Rs 101.60 and the 52-week low was Rs 37.65.

The company's trailing 12-month (TTM) EPS was at Rs 6.20 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 11.48. The latest book value of the company is Rs 99.32 per share. At current value, the price-to-book value of the company is 0.72.

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