Steel Exchange India Q3 Result 2024: Date and Time, Share Price and Target

News: In a significant financial update, Steel Exchange India Limited (SEIL) has released its Q3 and 9M FY’24 results. Let’s dive into the key highlights and understand what this means for the steel industry.

Key Highlights

1. Financial Performance (9M FY 24)

• Crude Steel Production: During the first nine months of FY 24, SAIL achieved a crude steel production of 14.22 million tonnes, marking a 6.6% growth compared to the previous year.
• Sales Volume: The company sold 12.46 million tonnes of steel during the same period, reflecting an 8.2% increase over the corresponding period last year.
• Revenue from Operations: SAIL’s revenue from operations stood at Rs. 77,417 crore, showcasing a steady performance.
• Profitability: The company’s Profit Before Tax (PBT) reached Rs. 2,359 crore, demonstrating resilience despite challenges.

2. Q3 Performance (Standalone)

• Crude Steel Production: In the third quarter of FY 24, SAIL produced 4.75 million tonnes of crude steel.
• Sales Volume: The sales volume during Q3 was 3.81 million tonnes.
• Revenue from Operations: SAIL’s revenue from operations for Q3 was Rs. 23,345 crore.
• Profitability: The company’s Profit Before Tax (PBT) in Q3 stood at Rs. 461 crore.

Expert Insights

• Positive Momentum: Despite price fluctuations, SAIL’s consistent efforts to increase volumes have positively impacted its financial performance.
• Commitment to Sustainability: SAIL remains committed to sustainable practices, including de-carbonization, capacity utilization, value addition, and cost competitiveness.

Market Outlook

• Tata Steel: Analysts recommend keeping an eye on Tata Steel, which is poised to benefit from robust domestic demand.
• Investor Perspective: Investors should closely monitor SAIL’s performance as it continues to navigate market dynamics.

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About Steel Exchange India Limited :

Steel Exchange India Limited (SEIL), established in 1999, is the flagship company of the Vizag Profiles Group. This leading manufacturer specializes in producing TMT Rebars under the brand name ‘SIMHADRI TMT’. Let’s delve into the details:

Company Overview:

• SEIL boasts the largest private integrated steel plant in the two Telugu States of Andhra Pradesh and Telangana.
• Their commitment to quality and consistency is evident in their crude steel production and sales volume achievements.

SAIL’s Q3 results reflect resilience and strategic focus. As the steel industry evolves, SAIL’s commitment to growth and sustainability remains unwavering.

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