OREANDA-NEWS. February 13, 2012. SAIL's turnover for the first nine months at Rs. 35563.73 crore was 5 % higher than CPLY. Profits were impacted compared to CPLY, due to higher input costs and foreign exchange variations. The company's PBT and PAT during the April-December'11 period were recorded at Rs. 2849.51 crore and Rs. 1965.74 crore, lower by 42.7 % and 41.7 % respectively, over CPLY. The difference in profit (PBT) at Rs. 2120 crore, was primarily because of impact of coking coal price increase at Rs. 1849 crore, and foreign currency variation of Rs. 1079 crore. SAIL s net worth grew by Rs. 2503 crore to Rs. 38618 crore as on 31st December 11. SAIL Board approved interim dividend for its shareholders at 12 % of the company s paid-up capital.

Reflecting the uptrend in performance over the preceding quarter, SAIL Q3 profit before tax (PBT) at Rs. 903.76 crore and Q3 profit after tax (PAT) at Rs. 632.12 crore, registered a growth of 26 % and 28 % respectively, over Q2FY12. Q3 PBT was down by Rs.724.44 crore (44 %) over CPLY, owing to impact of Rs. 578 crore on account of increase in prices of Coking Coal, and Rs. 499 crore on account of foreign exchange variation. The impact of these two factors, among others, also brought down PAT by Rs. 475.35 crore (43 %). The turnover for Q3FY12 at Rs. 11685.95 crore was 4.8 % less than CPLY.

Several ongoing projects in SAIL steel plants were completed in Q3FY12, including rebuilding of Coke Oven Battery-II at Bokaro, installation of turbo-blower no. 8 at Bokaro, installation of 60-tonne ladle furnace at ASP and Tonnage Oxygen Plants at Rourkela & Bhilai. Commissioning activities for pickling line cum tandem cold Mill (PLTCM) for Cold Rolling Mill at Bokaro were started.

SAIL Board has accorded in-principle approval for  bearing the expenses of two CRPF battalions for facilitating a safe environment in Rowghat region. Tender has been floated for a pelletisation (4 MT)-cum-beneficiation (10 MT) project at Gua iron ore mines, and is likely to be finalized this year. This is a step towards raw material securitisation and bringing in environment-friendly mining technology.

During Q3FY12, SAIL moved one step ahead in its journey to become a global player. The SAIL-led consortium AFISCO (Afghan Iron & Steel Consortium), which had submitted its bid for mining exploration rights at Hajigak, having an estimated reserve of 1.7 billion tonnes of iron ore, won the status of 'Preferred Bidder' for blocks B, C and D of the mines with an estimated reserve of 1.28 billion tonnes of high-grade magnetite iron ore (with 62-64% Fe content). 'SAIL-Kobe Iron India Pvt. Ltd.' name has been approved for 0.5 million tonnes ITmK3 plant. Subsequent to signing of term sheet for this plant, environment impact study & site survey including soil investigation has been started at ASP, Durgapur. At domestic front, SAIL signed a deed of transfer with Burn Standard and Co. Ltd. (BSCL) for the transfer of BSCL's Refractory Unit at Salem to the newly formed subsidiary of SAIL, namely SAIL Refractory Company Limited (SRCL). Since SAIL's requirement of refractory material is expected to increase substantially after implementation of its modernisation & expansion plans, the merger holds immense strategic advantage for SAIL in the long run.

A new SPV company 'SAIL-Sindri Projects Ltd.' has already been incorporated in November'2011, for revival of the closed units of FCIL. SAIL is awaiting BIFR clearance for taking further action.

SAIL was conferred 'Industry Excellence Award' by Institution of Engineers (India) in December'2011. SAIL employees also continued their winning streak at national performance awards. Of the 189 Shram Awards for earlier calendar years presented by Prime Minister Dr. Manmohan Singh and Union Minister for Labour & Employment Shri Mallikarjun Kharge at a glittering ceremony held at Vigyan Bhawan in October'11, 103 went to SAIL employees. This translates to 54.5% of the total number of Shram awards presented. SAIL also bagged 50% of the total 28 Vishwakarma Rashtriya Puraskar awards, which were presented to the employees in November 2011. Recently, SAIL has been conferred MoU Excellence Award in the Mining & Metals category by Hon ble Prime Minister, at a function jointly organised by DPE and SCOPE. This year, Bhilai Steel Plant of SAIL was declared the winner of the Prime Minister s best Integrated Steel Plant trophy for 2009-10. This is the tenth time that BSP has won this coveted award.

Reviewing the Q3 performance SAIL Chairman Shri C.S.Verma said, "The uptrend over the preceding quarter performance is an indication of the overall steel scenario becoming positive, and internal measures yielding desired results. With prices of coke stabilising, steel demand strengthening and increased production volumes in the offing for SAIL, 2012 is likely to be a year of fresh beginnings."