SAIL - A Biggest Beneficiary Of Improved Pricing: Motilal Oswal
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Steel Authority of India Ltd.’s result highlights strong gains from higher steel prices in the business model - Q3 FY21 Ebitda was up 147% YoY to Rs 50.8 billion, the highest ever.
Net debt also fell sharply by 12% QoQ to Rs 443.0 billion.
Spot steel prices are approximately Rs 7,000/tonne, above the Q3 FY21 average, which should drive 24% QoQ growth in Ebitda in Q4 FY21, even after factoring in wage revisions.
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