BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Steel Authority of India Ltd.’s Q2 FY21 result highlights the benefits of higher operating leverage (volumes up 34% YoY/88% QoQ) on account of its high-fixed-cost structure.
However, results were weaker than expected due to a miss on realisation.
While the company’s peers reported QoQ increase of Rs 1,500–3,500/tonne, SAIL’s blended realisation declined approximately Rs 300/tonne QoQ, leading to a miss of 31% in Ebitda to Rs 19.0 billion (up 64% YoY).
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