Thursday, 12 July 2018

Steel Authority Of India Limited

Steel Authority Of India Limited 

During the lean cycle, SAIL had embarked on an ambitious expansion plan to raise capacities by 43% to to 20.2 mt. The timing of the capex may not have been any sweeter and SAIL is best placed to benefit from this. The lofty pricing, high volume growth and improving product mix are expected to drive a revenue growth of 13.42% CAGR to INR 83,990 crore by FY21. Notwithstanding the legacy overheads, operating leverage should help improve EBIDTA/t to INR 8,169 leading to a faster growth (37% CAGR) in EBIDTA to INR 16,033 crore by FY21. The net profit is also expected to surge to INR 6,284 crore over the same period as a result of the expected improvement in operational metrics and lowered interest outgo from the repayment of debt.

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