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IDBI Capital Research
Steel Authority of India Ltd.’s Q1 FY21 net sales was in-line with street estimate while its net loss was lower than street forecast.
Its net sales fell 39% YoY to Rs 91 billion.
Although its operations resumed in second half of the quarter with limited workforce and disrupted supply chain, the imposed restrictions adversely impacted its sales volume and realization in Q1 FY21.
Volumes declined 32% YoY to 2.2 million tonnes and realization fell 10% YoY to Rs 41,216/tonne.
SAIL’s Ebitda loss stood at Rs 4 billion due to sharp fall in net sales. The Company reported a net loss of Rs 13 billion in Q1 FY21.
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