Addressing the shareholders of Steel Authority of India Ltd. (SAIL) on Company’s 46th Annual General Meeting, Chairman and Managing Director, SAIL, Saraswati Prasad said the persistent strategic approach to improve operational profitability assisted SAIL to improve the EBIDTA. ‘
In FY’18, the EBIDTA stood at Rs 5,184 crore, a substantial increase over FY’17. He added that the improved operational performance is backed by increase in saleable steel production, higher share of Concast production, improved product mix, improvement in BF Productivity, reduction in Coke Rate and Specific Energy consumption, reduction in specific wage bill etc. In FY’18, after slimming losses by around 83 per cent, the Company’s Profit After Tax (PAT) on standalone basis improved to Rs (-) 482 Crore from Rs (-) 2,833 crore in FY’17. The consolidated profit after tax of the Company stood at Rs (-) 281 crore for FY’18 as against Rs (-) 2,756 Crore in FY’17. Prasad said that SAIL has almost finished its balance modernisation and expansion programme.