SAIL Q4 Results Review - Revenue Inline; Ebitda Below Our Estimate: Motilal Oswal

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.In Q4 FY24, Steel Authority of India Ltd. received a one-time revenue and Ebitda gain of Rs 17 billion related to rail price revisions for FY22. For a like-to-like comparison, we have adjusted its Q4 FY24 financials by excluding this one-time gain. SAIL reported a revenue of Rs 262 billion (-10%/+12% YoY/QoQ), which was in line with our estimate. Average selling price for the quarter stood at Rs 57,554/tonne (-8%/-6% YoY/QoQ) versus our estimate of Rs 59,021/tonne. Ebitda declined 40% YoY and 17% QoQ to Rs 18 billion, which was slightly below our estimate of Rs 19 billion, due to muted realization and higher costs. .Adjusted profit after tax came in at Rs 1.8 billion, which declined 85% YoY and 51% QoQ, 8% above our estimate of Rs 1.7 billion during the quarter.  Saleable steel production came in at 4.7 mt (flat/+4% YoY/QoQ) versus our estimate of 4.2 mt. Sales volume was 4.6 mt (-3%/+20% YoY/QoQ), 3% above our estimate of 4.4mt. All five major plants of SAIL reported net profit, while the alloy steel plants, VISP and Salem, reported operating losses during Q4 FY24 and FY24. SAIL received a one-time revenue and Ebitda gain of Rs 17.5 billion and Rs 17.0 billion in Q2 and Q4 FY24, respectively, related to rail price revisions. For a like-to-like comparison, we have adjusted the same during Q2 / Q4 FY24 and FY24 financials by excluding this one-time gain..Click on the attachment to read the full report:.ONGC Q4 Results Review - Volume Outlook Robust; Execution Will Be Key: Motilal Oswal.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

SAIL Q4 Results Review - Revenue Inline; Ebitda Below Our Estimate: Motilal Oswal

SAIL is planning to undertake multiple expansions to reach the installed capacity of 35 mt by FY30-31

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