SAIL Q4 Results Review - Revenue Inline, Beat On Profitability On One-Off Gains: IDBI Capital

"NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.Steel Authority of India Ltd.’s Q4 FY24 revenue was in-line with our forecast. Revenue grew by 20% QoQ to Rs 279 billion led by volume growth of 20% QoQ. Ebitda increased by 62% QoQ to Rs 35 billion driven by arrears of Rs 15 billion towards railway price revision for FY23 and 9M FY24. Ebitda/tonne increased by 36% QoQ to Rs7,621. SAIL aims to grow its sales volume by 11.6% to 19 mt in FY25. Further, SAIL will incur capex of Rs 6.3 billion in FY25 primarily towards sustenance capex, and also for initiating capex on the Burnpur plant. We keep our FY25 Ebitda forecast unchanged and revise FY26 Ebitda forecasts upwards by 13%. We now value the stock at an enterprise value/Ebitda multiple of 6.5 times FY26E Ebitda given strong demand outlook for domestic steel sector led by infrastructure spending and robust volume guidance by SAIL for FY25. We raise our target price to Rs 155 (earlier Rs 107) and upgrade our rating on the stock from Sell to Hold..Click on the attachment to read the full report:.SAIL Q4 Results Review - Lower NSR, High Input Costs Affected Margins: Prabhudas Lilladher.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

SAIL Q4 Results Review - Revenue Inline, Beat On Profitability On One-Off Gains: IDBI Capital

SAIL aims to expand its capacity by 15 mtpa by 2031 with a total capex of Rs 1,000-1,100 billion

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SAIL Q4 Results Review - Revenue Inline, Beat On Profitability On One-Off Gains: IDBI Capital

SAIL aims to expand its capacity by 15 mtpa by 2031 with a total capex of Rs 1,000-1,100 billion

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