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Domestic demand saves the day for SAIL in Dec quarter
Mint Chennai
|February 14, 2025
Steel Authority of India Ltd's (SAIL) shares have risen 9% in the past two trading days as the Q3FY25 results did not disappoint in an otherwise weak market for metal stocks.
Metal stocks are under pressure as US president Donald Trump has imposed a 25% duty on all steel and aluminium imports from 12 March.
Moreover, the SAIL stock was near lows, hitting a new 52-week low of ₹99.15 apiece on Tuesday. Its consolidated Q3 Ebitda at ₹2,030 crore, falling 5.3% year-on-year (y-o-y), yet better than the 40% decline in Q2.
The company's 10% drop in Q3 realization was largely offset by the 16% volume growth. While export volumes fell 75%, domestic volumes rose 25%, due to higher demand from infrastructure and consumer segments.
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