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.
IDBI Capital Report
Steel Authority of India Ltd.’s Q4 FY21 result was slightly ahead of our expectations; Ebitda was 4% higher than our forecast.
Its Ebitda/tonne jumped two times YoY to Rs 13,984 as blended realisation increased 22.5% YoY to Rs 52,923/tonne.
Ebitda increased 144% YoY to Rs 61.5 billion led by higher realisations and volumes.
Interest cost fell 41% YoY to Rs 5.4 billion. Its net debt fell to Rs 353 billion compared to Rs 440 billion as of December 31, 2020.
Despite the second wave of Covid-19, domestic steel prices have remained firm led by strong steel demand in global markets.
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