Shares of Metal Authority of India (SAIL) surged 13 per cent to Rs 130.35 on the BSE in Monday’s intra-day commerce after the corporate reported best-ever quarterly standalone revenue after tax (PAT) of Rs 4,304 crore for the second quarter ended September 2021 (Q2FY22). It had posted Rs 393 crore internet revenue within the year-ago quarter. On a sequential foundation, PAT up 12 per cent from Rs 3,850 crore in June 2021 quarter.
The corporate’s standalone income from operations elevated 58 per cent 12 months on 12 months (YoY) at Rs 26,827 crore, from Rs 16,923 crore within the corresponding quarter of the earlier fiscal. Standalone earnings earlier than curiosity, tax, depreciation and amortization (Ebitda) for the quarter was at Rs 7,017 crore, up 269 per cent YoY; Ebitda margin was up 1493 bps YoY however down 564 bps QoQ and at 26.2 per cent.
The corporate has introduced interim dividend of Rs 4 per fairness share or 40 per cent of the paid up fairness share capital of the Firm.
In accordance with ICICI Securities, SAIL reported a blended set of numbers for Q2FY22, whereby topline got here according to their estimate whereas Ebitda/tonne, EBITDA and PAT got here in under estimate. “For Q2FY22, SAIL reported gross sales quantity of 4.28 million tonne (MT), up 2 per cent YoY, 29 per cent QoQ, according to our estimate of 4.30 MT. For the quarter, SAIL reported Ebitda/tonne at Rs 16,395/tonne in comparison with our estimate of Rs 18,000/tonne (Q1FY22 Ebitda/tonne was at Rs 19,728/tonne),” the brokerage agency mentioned in a notice.
In the meantime, Ace investor Rakesh Jhunjhunwala held 72.5 million or 1.76 per cent stake in SAIL as on September 30, 2021, the shareholding sample knowledge reveals.
At 10:11 am, the inventory was buying and selling 12 per cent larger at Rs 129.30 on the BSE on the again of heavy volumes. Compared, the S&P BSE Sensex was up 0.39 per cent at 59,540 factors. Buying and selling volumes on the counter jumped 1.5 occasions with a mixed 138 million fairness shares having modified fingers on the NSE and BSE. The inventory had hit a 52-week excessive of Rs 151 on Might 10, 2021.
Enterprise Commonplace has at all times strived exhausting to supply up-to-date data and commentary on developments which might be of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on methods to enhance our providing have solely made our resolve and dedication to those beliefs stronger. Even throughout these troublesome occasions arising out of Covid-19, we proceed to stay dedicated to maintaining you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.
We, nonetheless, have a request.
As we battle the financial influence of the pandemic, we want your assist much more, in order that we are able to proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from a lot of you, who’ve subscribed to our on-line content material. Extra subscription to our on-line content material can solely assist us obtain the objectives of providing you even higher and extra related content material. We imagine in free, honest and credible journalism. Your assist via extra subscriptions will help us practise the journalism to which we’re dedicated.
Assist high quality journalism and subscribe to Enterprise Commonplace.