Financial Daily from THE HINDU group of publications
Thursday, Jul 18, 2002
Financial Daily from THE HINDU group of publications Thursday, Jul 18, 2002 |
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Corporate
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Performance SAIL posts higher turnover in Q1 Indrani Dutta
KOLKATA, July 17 RIDING on the wave of a series of price increases, Steel Authority of India Ltd (SAIL) has been able to register higher net sales realisation (NSR) of over Rs 700 crore in the first quarter of 2002-03. Quick estimates show that with sales of 20.3 lakh tonnes of prime steel in the first quarter of 2002-03, SAIL clocked a turnover of around Rs 2,830 crore compared to Rs 2,096 crore in the corresponding quarter of the previous fiscal when sales stood at 15 lakh tonnes of steel. The NSR during the quarter under review stood at Rs 13,945 per tonne in the financial year 2003 compared to a NSR of Rs 13,657 of the financial year 2002. NSR of prime steel has increased from Rs 12,080 per tonne in March 2002 to Rs 14,508 in June 2002. The NSR figure, which is net of excise, freight, JPC cess and rebates (given mostly to bulk customers) does not include flat products such as tinplates, electrical steel sheets and pipes and pig iron sales and railway items. The Central Marketing Organisation (CMO) of SAIL which accounts for bulk of sales of the country's largest producer, has clocked a 38 per cent growth in home sales during the first quarter of the financial year 2003. Sales which stood at 14.8 lakh tonnes increased to 20.4 lakh tonnes this year, according to CMO sources. Flat products have enjoyed a better market during this quarter registering a 59 per cent growth. Items which sold particularly well were hot and cold rolled coils and plates, which are used in making tubes, machine bodies and other equipment. The prices of these two products have increased by around Rs 3,500 during this period. Referring to the sale of electrical steel, a high value product of the Rourkela Steel Plant (RSP) of SAIL, sources said that CMO sold 15,700 tonnes of this item between April and June 2002 compared to 9,300 tonnes in the corresponding period in 2001-02.
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