Steel Authority Of India reported Q4 and yearly reports with overall china’s and US trade war effect compare to Q3, this Q4 results is down by 42%. Turnover touched Rs 18,323 crore in FY19.
SAIL Q4FY19 profits stood 9% growth and after three years company posted profits on their results. SAIL declared dividend of 0.50 RS / equity share of Rs 10 each or 5%.
In an official statement, Anil Kumar Chaudhary, chairman, SAIL said: “The entire SAIL Collective worked in mission mode to achieve this turnaround. We shall put in even greater efforts to ramp-up production from our sophisticated mills while focusing on augmenting production of special & valued added steels and niche products.”
SAIL improved their business with Mitsubishi and NIPPON for JV. Government having conversation to acquire some steel plants for maximize the steel business for SAIL.
SAIL stock is quoted 50.10 RS on May 31st with impact of 0.61% down and on yearly basis stock was down by 36%.
Here’s full report of SAIL results : SAIL Q4 Results