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SAIL: Better numbers likely from December 2022 quarter

Investors should watch for recovery in volumes, steel prices

August 17, 2022 / 09:30 AM IST
SAIL: Better numbers likely from December 2022 quarter

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The Q1FY23 results of Steel Authority of India Ltd (SAIL; CMP: Rs 83; Market Capitalisation: Rs 34,156 crore) were below Street expectations. Off-take volumes remained lower while sales realisation was higher quarter on quarter (QoQ), thanks to the price hike in April-May. Total production cost increased by 22 percent, QoQ, due to higher coking coal prices. This impacted the EBITDA (earnings before interest, taxes, depreciation and amortisation). (image) Other highlights Blended average realisation in the June 2022 quarter was Rs 66,829 per...

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