Page 12 - Sail

SAIL signs long-term tariff pact with Railways

LTTC has been introduced by Indian Railways to establish long-term contracts with customers

SAIL Q1 loss widens to Rs 801 cr; expenses rise by 27%

Total standalone income of the company rose by 25.39% to Rs 13,072.77 cr

SAIL Q1 net loss widens to Rs 801.38 cr on higher expenses

SAIL had clocked a net loss after tax of Rs 535.52 crore in the corresponding quarter of 2016-17

Indian Railways: SAIL supplies 6,20,000 lakh tonnes of rails in FY17

SAIL has carried out modernisation and expansion programme at all the five major steel plants

As SAIL's modernisation draws to a close, it faces new challenge

It must educate buyers about differentiating properties of its products from that are in the market

SAIL: Profitability uptick holds key to upgrades

The Steel Authority of India Ltd (SAIL) stock has not moved much since its results, despite the company being in the news for its joint venture (JV) with ArcelorMittal for an automobile-grade steel plant and a mega expansion plan. This is due to the worries on its profit. Operating profit, which got a boost during the first half of FY17, helped by higher realisations and lower input costs (primarily coal), slipped into the red during the second half. Volatility in coking coal prices was the primary reason, as the company is largely dependent on external coal supplies, mostly imported. Losses at the operating level have increased over the past two quarters.Concerns on rising wage costs remained, as the company set aside ~107.15 crore for pay revision from January. What gives comfort is the expectation of wage costs of around ~9,600 crore in FY18. This has surprised analysts at Jefferies, who have since cut their FY18 wage cost estimates by about eight per cent. Concerns on interest ...

SAIL open to taking over stressed assets

It will ramp up capacity to 21 million tonnes finished steel over the next one or two years

Molten steel spill mishap kills two at SAIL's IISCO plant in Bengal

SAIL has constituted a high-level inquiry committee to ascertain the cause of the accident

SAIL-BSP to be the first to use plasma technology for toxic waste disposal

The company is collaborating with Unido to set up a state-of-art PCB management facility

As SAIL struggles, private players race ahead

The government has a dream and SAIL can't afford to be a spoilsport

SAIL spends Rs 64,562 cr on modernisation, expansion of plants

It also includes Rs 2,324 crore investment in first nine months of the last financial year

Steel minister says he hopes Sail, ArcelorMittal resolve JV issues by May

SAIL is banking on the proposed joint venture to move to higher grades of steel

Govt gives nod to outright sale of 3 SAIL special steel plants

Alloy Steels Plant, Salem Steel Plant and Visvesvaraya Iron and Steel Plant are three steel plants

Govt may ask SAIL to operate Monnet Ispat till buyer finalised

The government is examining the possibility of country's largest steel maker SAIL undertaking 'operation and maintenance' of ailing Monnet Ispat & Energy Ltd till the lenders are able to find a buyer for the company. According to a government official, however, it may not be possible for Steel Authority of India to take over MIEL which is up for sale but it would definitely explore the option of maintaining the steel plant. The lenders have already sought bids from prospective buyers but have not received good response. Only JSW Steel has expressed keenness to take over MIEL which is facing debt problem. A consortium led by SBI, sources said, has taken over the debt-ridden company and is looking for a buyer as part of the strategic debt restructuring. "Recently, it was asked whether SAIL is interested in taking Monnet if bank takes all the equity. Since they (lenders) have got just one bid they are exploring various options. As a result a few days back they ...

SAIL records highest monthly export volume of 100,000 tonnes in decade

The PSU steel maker has already exported 700,00 tonnes during the current financial year

Final call on strategic divestment of SAIL units by September

SAIL had earlier said the govt will hold auction to identify strategic buyers for its subsidiaries

SAIL scores low on employee output ratio

Efficiency as measured in output per employee at government-owned Steel Authority of India (SAIL) is well behind private sector peers JSW and Tata Steel.In 2015-16, its crude steel production capacity was 14.279 million tonnes. With 88,655 employees, this meant one employee for every 161 tonnes. JSW Steel's had 11,904 employees and produced 12.56 mt; the per-employee output was 1,055 tonnes. At Tat Steel, this metric was 2,680 tonnes.Wage cost is 21 per cent of SAIL's total cost. SAIL has trimmed its workforce by 1,000-1,500 employees annually for the past two; it announced a Voluntary Retirement Scheme in 2016. Its staff strength would be 83,000 by end-March 2017 and an estimated 79,000 by end-March 2018, still much higher than peers.SAIL's net loss for the quarter ended December narrowed to Rs 795 crore, from one of Rs 1,481.06 crore in the corresponding quarter a year before. Total expenses had risen to Rs 13,332 crore from Rs 11,759 crore in the comparative period. ...

SAIL revival hinges on cost tightening

While operating performance could improve, it may not be enough to help SAIL turn profitable

SAIL now has plans to build 520-metre-long single rail line

Indian Railways, which is procuring rails only from SAIL, has a specific demand for long rails

SAIL Q3 net loss narrows to Rs 795 cr

The total expenses of the company increased to Rs 13,332 cr