*Steel Authority Of India Ltd.* | *CMP* Rs. 36 | *M Cap* Rs. 15260 Cr | *52 W H/L* 51/20
(Nirmal Bang Retail Research)
*Result is marginally ahead of expectation*
*Higher PAT is on account of large inventory increase accounted in Qtr*
Revenue from Operations came at Rs. 16171.8 Cr (-2.2% QoQ, -12.6% YoY) vs expectation of Rs. 16832.5 Cr, QoQ Rs. 16541.3 Cr, YoY Rs. 18506.3 Cr
*The sales volume came at 3.74mnt down by 9.4% and 8.8%on YoY and QoQ basis*
*The realisation for the quarter stood at Rs 43205/t*
The EBITDA came at Rs 6459.8cr (547.5%QoQ, 191.7% YoY), vs expectation of Rs. 1386.8 Cr , QoQ Rs. 997.6 Cr, YoY Rs. 2214.5 Cr.
*The significant variation is mainly due to the inventory gain of Rs 4841cr*
The Adj EBIDTA came at Rs. 1618Cr .
EBITDA Margin came at 10% vs expectation of 8.2%, QoQ 6%, YoY 12%
*Adj EBITDA/t came at Rs 4326/t against Rs 2439/t and Rs 5361/t on QoQ and YoY basis*
PAT came at Rs. 2725.2 Cr vs expectation of Rs. -40.2 Cr, QoQ Rs. -429.6 Cr, YoY Rs. 523 Cr
Quarter EPS is Rs. 6.6.
The share is trading at an EV/EBITDA of 7.06 FY22