SAIL Q4 Review - Steady Performance: ICICI Direct
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ICICI Direct Report
Steel Authority of India Ltd. reported an operationally steady set of numbers wherein Ebitda/tonne came in broadly in line with our estimate.
For Q4 FY21, Ebitda/tonne was at Rs 14,145/tonne, broadly in line with our estimate of Rs 15,000/tonne (Q3 FY21 Ebitda/tonne was at Rs 12,089/tonne).
For Q4 FY21, sales volume was at 4.35 million tonne, up 16% YoY (our estimate: 4.27 million tonne).
For Q4 FY21, standalone operations reported topline of Rs 23,286 crore (up 44% YoY, 17% QoQ), higher than our estimate of Rs 22,354 crore.
Standalone Ebitda for the quarter was at Rs 6,153 crore (up 21% QoQ) versus our estimate of Rs 6,405 crore.
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