SAIL Q4 Review - Margins To Weaken In H1 FY23: Centrum Broking

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Centrum Broking Report.Steel Authority of India Ltd. reported better-than-expected Ebitda of Rs 43.3 billion (our estimate: Rs 39.3 billion), up 27% QoQ. The 10% beat in Ebitda was due to lower other expenses which includes one-off write back of excess liabilities of ~Rs 1.86 billion during the quarter. Even after adjusting that, numbers were better than expected. Reported Ebitda/tonne at Rs 9,196, was up Rs 315/tonne QoQ (our estimate: Rs 8,279). The effect of higher coking coal prices were more than offset by lower employee and other expenses as well as higher volumes. Moreover, the continuous release of working capital helped SAIL to reduce debt further by Rs 38.6 billion QoQ to Rs 172.8 billion. We believe there is less room for SAIL to deleverage further in FY23 due to expectation of lower operating cashflows and increase in capex..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime 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 BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

SAIL Q4 Review - Margins To Weaken In H1 FY23: Centrum Broking

SAIL Q4 Review - Margins To Weaken In H1 FY23: Centrum Broking

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