SAIL Chairman C S Verma said, "We foresee the present thrust on infrastructure growth translate into higher demand of steel in the country. This certainly augurs very well for the industry, and SAIL is geared to meet this resurgent demand."
State-run steel maker SAIL registered a growth rate of 11 percent in sales at 1.06 million tonnes (MT) in May this year. The steel giant had registered sales at 0.96 MT in the same month last year.
"Rise in exports was to the tune of 76 per cent on a y-o-y basis during the month. Production at SAIL plants kept pace with hot metal production of 1.26 MT achieved in May, registering a y-o-y growth of 4 per cent," SAIL said in a statement.
Also Read: SAIL loses 5%, operational performance dents Q4 earnings
Optimistic about the ensuing period in current financial year, SAIL Chairman CS Verma said, "We foresee the present thrust on infrastructure growth translate into higher demand of steel in the country. This certainly augurs very well for the industry, and SAIL is geared to meet this resurgent demand."
SAIL had registered a marginal 1.35 percent increase in net profit to Rs 452.58 crore in the January-March quarter and a 20.6 percent growth in net profit to Rs 2,616 crore in FY14.
The company produced 12.9 million tonnes of saleable steel in FY14, an increase of 4 percent over the previous financial year. Shares of the company closed at Rs 92.25 on the BSE, up 5.43 percent from previous close.
SAIL stock price
On June 02, 2014, Steel Authority of India closed at Rs 91.70, up Rs 4.20, or 4.80 percent. The 52-week high of the share was Rs 100.85 and the 52-week low was Rs 37.65.
The company's trailing 12-month (TTM) EPS was at Rs 6.33 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 14.49. The latest book value of the company is Rs 105.66 per share. At current value, the price-to-book value of the company is 0.87.
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