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Highlights
- The presented financial data is Standalone to provide a comprehensive overview of the company performance.
- Sales over the Year and quarter: The company’s sales declined by -1.48 % over the year, decrease in net sales/revenue by -14.16 %.
- Income over the Year and quarter: There has been decline in other income over the past year which is -125.22 %, Marginal increase in other income during this quarter, up by 25.08%.
- Profit over the Year and quarter: Challenges in sustaining profitability for Steel Authority of India Limited. Profit dropped by -92.87 % Year to Year, Steel Authority of India Limited’s profitability dropped by -98.94 % Quarter to Quarter.
- EPS over the Year and quarter: EPS declined by -91.67 % Year to Year. EPS decreased by -98.78 % in previous quarter. Analysis needed for shareholder value.
| Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
|---|---|---|---|---|---|
| Sales | Rs. 24357.58 Cr | Rs. 27957.99 Cr | Rs. 23997.78 Cr | -14.16 % | -1.48 % |
| Expenses | Rs. 22710.47 Cr | Rs. 24482.61 Cr | Rs. 21778.37 Cr | -11.05 % | -4.1 % |
| Operating Profit | Rs. 1647.11 Cr | Rs. 3475.38 Cr | Rs. 2219.41 Cr | -36.14 % | + 34.75 % |
| OPM % | 6.76 % | 12.43 % | 9.25 % | -3.18 % | + 2.49 % |
| Other Income | Rs. 442.49 Cr | Rs. -148.98 Cr | Rs. -111.61 Cr | + 25.08 % | -125.22 % |
| Interest | Rs. 612.6 Cr | Rs. 642.14 Cr | Rs. 691.45 Cr | + 7.68 % | + 12.87 % |
| Depreciation | Rs. 1274.85 Cr | Rs. 1355.69 Cr | Rs. 1402.09 Cr | + 3.42 % | + 9.98 % |
| Profit before tax | Rs. 202.15 Cr | Rs. 1328.57 Cr | Rs. 14.26 Cr | -98.93 % | -92.95 % |
| Tax % | 25.88 % | 23.89 % | 25.11 % | + 1.22 % | -0.77 % |
| Net Profit | Rs. 149.83 Cr | Rs. 1011.22 Cr | Rs. 10.68 Cr | -98.94 % | -92.87 % |
| EPS in Rs | Rs. 0.36 | Rs. 2.45 | Rs. 0.03 | -98.78 % | -91.67 % |
Today, we’re looking at Steel Authority of India Limited’s financial performance for the Q1(Jun 2024).Starting with the top line, the company reported a significant year-over-year sales decline of -1.48 %. However, it did see a marginal slip of -14.16 % from the previous quarter. Expenses decreased slightly by -11.05 % quarter-on-quarter, aligning with the annual decline of -4.1 %. Operating profit, while up 34.75 % compared to last year, faced a quarter-on-quarter dip of -36.14 %, signaling a short-term contraction in margins.
The Operating Profit Margin (OPM) % echoes this narrative, showing resilience on an annual basis with an increase of 2.49 %, but a shrinkage of -3.18 % sequentially. Other income rose by 25.08 % compared to the last quarter, despite an annual decline of -125.22 %. Interest expenses surged remarkably by 7.68 % from the previous quarter, yet the year-over-year increase remains at a moderate 12.87 %. Depreciation costs climbed by 3.42 % quarter-on-quarter, whereas on an annual scale, they saw an increase of 9.98 %. Profit before tax declined annually by -92.95 % but saw a reduction from the preceding quarter by -98.93 %.
Tax expenses as a percentage of profits decreased slightly by -0.77 % compared to last year, with a more notable quarter-on-quarter increase of 1.22 %. Net profit fell by -92.87 % year-on-year but witnessed a -98.94 % contraction from the last quarter. And finally, Earnings Per Share (EPS) displayed an annual downturn of -91.67 % but a quarterly fall of -98.78 %. In summary, Steel Authority of India Limited’s annual performance indicates steady growth, although the quarter-on-quarter figures suggest some areas may require strategic attention.
| Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
|---|---|---|---|---|---|
| Sales | Rs. 24357.58 Cr | Rs. 27957.99 Cr | Rs. 23997.78 Cr | -14.16 % | -1.48 % |
| Expenses | Rs. 22710.47 Cr | Rs. 24482.61 Cr | Rs. 21778.37 Cr | -11.05 % | -4.1 % |
| Operating Profit | Rs. 1647.11 Cr | Rs. 3475.38 Cr | Rs. 2219.41 Cr | -36.14 % | + 34.75 % |
| Net Profit | Rs. 149.83 Cr | Rs. 1011.22 Cr | Rs. 10.68 Cr | -98.94 % | -92.87 % |
| EPS in Rs | Rs. 0.36 | Rs. 2.45 | Rs. 0.03 | -98.78 % | -91.67 % |
In reviewing Steel Authority of India Limited’s 2024(Q1) financial snapshot, key trends emerge, shedding light on the company’s performance.Sales experienced a decrease of -1.48 % year-on-year, although there was a slight dip of -14.16 % from the previous quarter. Expenses decreased by -4.1 % compared to the previous year, with a decrease of -11.05 % quarter-on-quarter. Operating Profit surged by 34.75 % annually, and saw a -36.14 % decrease from the last quarter.
Net Profit showed yearly decrease of -92.87 %, and experienced a -98.94 % decrease from the previous quarter. Earnings Per Share (EPS) fell by -91.67 % annually, however dipped by -98.78 % compared to the last quarter. In essence, while Steel Authority of India Limited faces strong annual decline indicators, short-term fluctuations suggest the need for agile strategies to navigate market dynamics effectively. That’s all for now in the financial sector.
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