Standalone and Consolidated Financial Results for the quarter ended 30th September 2021

Steel Authority of India Limited
Standalone Cash Flow Statement		(₹ crore)
		For the period ended	For the period ended
		30th September, 2021	30th September, 2020
A. CASH FLOW FROM OPERATING ACTIVITIES
	Profit/(Loss) before tax	10897.78	(1374.34)
	Adjustments for:
	Depreciation and amortisation expenses	2081.69	1963.10
	Loss/Gain on disposal of fixed assets (net)	62.39	(71.62)
	Interest income	(152.07)	(105.92)
	Dividend income	(42.70)	(26.60)
	Finance costs	889.11	1585.01
	Unrealised Loss/(Gain) on foreign exchange fluctuations	52.86	21.65
	Loss/(Gain) on sale of non-current investments	(0.07)	-
	Allowance for doubtful debts, loans and advances	50.25	36.21
	Other allowances	122.75	30.10
	Unclaimed balances and excess allowances written back	(48.08)	(82.75)
	Operating Profit before working capital changes	13913.91	1974.84
	Changes in assets and liabilities:
	Trade receivables	3.11	561.75
	Loans, other financial assets and other assets	2181.58	(287.88)
	Trade payable	2765.39	525.61
	Other financial liabilities and other liabilities	(2764.13)	1676.91
	Provisions	967.04	(1232.86)
	Inventories	(1115.76)	3084.98
	Cash flow from operating activities post working capital changes	15951.14	6303.35
	Income tax paid (net)	(64.77)	14.66
	Net cash flow from operating activities (A)	15886.37	6318.01
B CASH FLOWS FROM INVESTING ACTIVITIES
	Purchase of property, plant & equipment (including capital	(1838.92)	(1254.59)
	work-in-progress) and intangibles
	Proceeds from sale/disposal of property, plant & equipment	89.89	116.61
	Purchase of current and non-current investments	0.06	8.10
	Movement in fixed deposits (net)	(3.37)	(1.58)
	Interest received	86.86	51.51
	Dividend received	42.70	26.60
	Net cash used in investing activities (B)	(1622.78)	(1053.35)
C CASH FLOWS FROM FINANCING ACTIVITIES
	Proceeds from long-term borrowings (net)	(8951.83)	(6010.68)
	Lease liabilities	155.44	(71.56)
	Proceeds from short-term borrowings (net)	(4178.10)	2546.85
	Finance cost paid	(1147.73)	(1879.32)
	Net cash used in financing activities (C)	(14122.22)	(5414.71)
D
Net change in cash and cash equivalents (A+B+C)	141.37	(150.05)
	Cash and cash equivalents at the beginning of the period	468.40	153.43
	Cash and cash equivalents at the end of the period	609.77	3.38

The cash flow statement has been prepared using the Indirect Method as set out in Ind AS-7, Statement of Cash Flows. The accompanying notes are an integral part of these standalone financial statements.

STEEL AUTHORITY OF INDIA LIMITED

CIN: L27109DL1973GO1006454

REGISTERED OFFICE: ISPAT BHAWAN, LODI ROAD, NEW DELHI - 110 003

Tel: [phone], Fax: [phone], E-mail: [e-mail], Website: www.sail.co.in

Statement of Standalone Unaudited Financial Results for the Quarter and Half Year ended 30th September, 2021

₹ Crore unless stated otherwise

				STANDALONE
			Quarter ended		Half Year ended	Year ended
Sl. No.	Particulars	30th September,	30th June,	30th September,	30th September,	30th September,	31st March,
2021	2021	2020	2021	2020	2021
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	Income
	(a) Revenue from operations	26826.92	20642.38	16923.61	47469.30	25991.09	69110.02
	(b) Other income	230.61	110.38	197.61	340.99	475.34	1011.69
	Total Income	27057.53	20752.76	17121.22	47810.29	26466.43	70121.71
2	Expenses
	a) Cost of materials consumed	8607.95	6347.34	5772.84	14955.29	10132.78	23136.17
	b) Changes in inventories of finished goods, work-in-progress	559.10	(790.13)	2956.39	(231.03)	2616.91	4268.58
	and by-products
	c) Employee benefits expense	3334.34	2769.48	2038.72	6103.82	4031.63	10445.94
	d) Finance costs	439.00	502.97	720.37	941.97	1606.66	2817.14
	e) Depreciation and amortisation expenses	1055.62	1026.07	989.79	2081.69	1963.10	4102.00
	f) Other expenses	7308.63	5752.14	4255.18	13060.77	7712.08	18531.28
	Total Expenses	21304.64	15607.87	16733.29	36912.51	28063.16	63301.11
3	Profit / (Loss) before Exceptional items and Tax	5752.89	5144.89	387.93	10897.78	(1596.73)	6820.60
	Add / (Less): Exceptional items	-	-	222.39	-	222.39	58.43
4	Profit / (Loss) before Tax	5752.89	5144.89	610.32	10897.78	(1374.34)	6879.03
	Less: Tax expense
	Current tax	-	-	-	-	-	12.05
	Deferred tax	1449.27	1294.87	217.00	2744.14	(497.39)	3016.96
	Total tax expense	1449.27	1294.87	217.00	2744.14	(497.39)	3029.01
5	Net Profit / (Loss) for the period	4303.62	3850.02	393.32	8153.64	(876.95)	3850.02
	Other Comprehensive Income (OCI)
A	(i) Items that will not be reclassified to profit or loss	68.02	(32.52)	2.03	35.50	4.25	374.16
	(ii) Income tax relating to items that will not be reclassified to	(16.80)	8.23	(0.94)	(8.57)	(1.46)	(93.63)
	profit or loss
6	Total Comprehensive Income / (Loss) for the period	4354.84	3825.73	394.41	8180.57	(874.16)	4130.55
7	Paid-up Equity Share Capital (face value of ₹ 10/- each)	4130.53	4130.53	4130.53	4130.53	4130.53	4130.53
8	Reserves excluding revaluation reserve				46890.27	34772.69	39364.35
9	Earnings per equity share (of ₹10/- each) (not annualised)
	1. Basic (₹)	10.42	9.32	0.95	19.74	(2.12)	9.32
	2. Diluted (₹)	10.42	9.32	0.95	19.74	(2.12)	9.32
10	Debt Equity Ratio				0.48	1.30	0.87
11	Debt Service Coverage Ratio (Number of times)				1.05	0.00	0.36
12	Interest Service Coverage Ratio (Number of times)				10.76	0.01	2.86

Note: Refer accompanying notes to the financial results.

STEEL AUTHORITY OF INDIA LIMITED

CIN: L27109DL1973GO1006454

REGISTERED OFFICE: ISPAT BHAWAN, LODI ROAD, NEW DELHI - 110 003

Tel: [phone], Fax: [phone], E-mail: [e-mail], Website: www.sail.co.in

STANDALONE SEGMENT WISE REVENUE, RESULTS, ASSETS AND LIABILITIES

₹ Crore unless stated otherwise

				STANDALONE
		Quarter ended		Half Year ended	Year ended
Particulars	30th September,	30th June,		30th September,	30th September,	30th September,	31st March,
2021	2021		2020	2021	2020
		2021
	Unaudited	Unaudited		Unaudited	Unaudited	Unaudited	Audited
Segment revenue from operations
- Bhilai Steel Plant	7067.25	5575.19		4528.25	12642.44	7655.87	19948.79
- Durgapur Steel Plant	2809.49	2511.51		2194.82	5321.00	3473.72	8788.14
- Rourkela Steel Plant	6538.86	5918.39		4356.89	12457.25	6019.09	17672.21
- Bokaro Steel Plant	6393.01	6446.18		4707.14	12839.19	6604.64	18627.95
- IISCO Steel Plant	3217.45	2055.04		2000.55	5272.49	3470.91	8309.23
- Alloy Steels Plant	239.19	201.45		144.77	440.64	207.83	553.15
- Salem Steel Plant	750.05	441.93		439.36	1191.98	627.46	1713.27
- Visvesvaraya Iron & Steel Plant	92.94	68.39		30.35	161.33	48.46	168.32
- Others	2187.47	317.77		0.98	2505.24	545.97	1225.61
Total segment revenue	29295.71	23535.85		18403.11	52831.56	28653.95	77006.67
Less: Inter-segment revenue	2468.79	2893.47		1479.50	5362.26	2662.86	7896.65
Net revenue from operations	26826.92	20642.38		16923.61	47469.30	25991.09	69110.02
Segment results (Profit / (Loss) before
interest, exceptional items and tax)
- Bhilai Steel Plant	1050.25	1137.95		556.75	2188.20	390.93	2320.14
- Durgapur Steel Plant	314.63	635.08		83.14	949.71	21.45	973.19
- Rourkela Steel Plant	2128.57	1771.53		649.05	3900.10	156.38	3117.82
- Bokaro Steel Plant	2033.92	1933.89		502.49	3967.81	114.53	2935.98
- IISCO Steel Plant	358.58	231.68		(205.84)	590.26	(481.98)	513.30
- Alloy Steels Plant	(8.05)	10.32		(17.28)	2.27	(50.81)	(70.83)
- Salem Steel Plant	48.29	15.52		(35.10)	63.81	(94.21)	(54.20)
- Visvesvaraya Iron & Steel Plant	(2.74)	(8.17)		(19.54)	(10.91)	(41.35)	(50.06)
- Others	268.44	(79.94)		(405.37)	188.50	(5.01)	(47.60)
Total	6191.89	5647.86		1108.30	11839.75	9.93	9637.74
Less: Finance costs	439.00	502.97		720.37	941.97	1606.66	2817.14
Less: Exceptional items	-	-		(222.39)	-	(222.39)	(58.43)
Profit / (Loss) before Tax	5752.89	5144.89		610.32	10897.78	(1374.34)	6879.03
Segment Assets
- Bhilai Steel Plant	30817.11	31116.81		32211.66	30817.11	32211.66	31122.24
- Durgapur Steel Plant	6295.25	6312.25		6586.31	6295.25	6586.31	6232.20
- Rourkela Steel Plant	22974.43	23196.41		23193.87	22974.43	23193.87	23040.23
- Bokaro Steel Plant	20757.23	20511.50		20067.81	20757.23	20067.81	20639.31
- IISCO Steel Plant	16092.45	16469.03		16998.14	16092.45	16998.14	16551.10
- Alloy Steels Plant	525.08	552.38		540.72	525.08	540.72	545.00
- Salem Steel Plant	2268.63	2485.65		2371.22	2268.63	2371.22	2300.83
- Visvesvaraya Iron & Steel Plant	299.67	320.46		316.68	299.67	316.68	326.76
- Others	13671.38	13656.72		14186.33	13671.38	14186.33	14607.27
Unallocated Assets	1837.21	1801.99		4291.69	1837.21	4291.69	1794.72
Total	115538.44	116423.20		120764.43	115538.44	120764.43	117159.66
Segment Liabilities
- Bhilai Steel Plant	9161.05	9162.99		8144.69	9161.05	8144.69	8705.53
- Durgapur Steel Plant	3024.90	3026.42		2618.68	3024.90	2618.68	2823.31
- Rourkela Steel Plant	6581.94	6385.93		5142.99	6581.94	5142.99	5686.67
- Bokaro Steel Plant	7104.62	6133.91		4355.92	7104.62	4355.92	5242.73
- IISCO Steel Plant	1512.93	1500.13		1472.73	1512.93	1472.73	1548.56
- Alloy Steels Plant	217.32	221.47		209.22	217.32	209.22	213.34
- Salem Steel Plant	464.93	461.39		337.16	464.93	337.16	439.49
- Visvesvaraya Iron & Steel Plant	47.30	45.18		54.44	47.30	54.44	46.15
- Others	11067.61	10398.35		13637.79	11067.61	13637.79	27967.82
Unallocated Liabilities	25335.04	31766.82		45887.59	25335.04	45887.59	20991.18
Total	64517.64	69102.59		81861.21	64517.64	81861.21	73664.78
Note :

Operating Segments have been identified in line with the Ind AS 108 - Operating Segments.

STEEL AUTHORITY OF INDIA LIMITED

CIN: L27109DL1973GO1006454

REGISTERED OFFICE: ISPAT BHAWAN, LODI ROAD, NEW DELHI - 110 003

Tel: [phone], Fax: [phone], E-mail: [e-mail], Website: www.sail.co.in

STANDALONE STATEMENT OF ASSETS AND LIABILITIES

		(₹ crore)
	STANDALONE
	As at	As at
Particulars	30.09.2021	31.03.2021
	Unaudited	Audited
ASSETS
(1) Non-current assets
(a) Property, plant and equipment	64425.15	64115.26
(b) Capital work-in-progress	7898.77	8878.48
(c) Right of use assets	2060.57	2054.13
(d) Investment property	1.08	1.09
(e) Intangible assets	1423.16	1429.28
(f) Inventories	4288.91	4236.26
(g) Financial assets
(i) Investments	1610.29	1595.01
(ii) Loans	693.79	636.45
(iii) Other financial assets	341.41	453.99
(h) Current tax assets (net)	281.55	216.78
(i) Other non-current assets	4221.78	1566.81
Total non-current assets	87246.46	85183.54
(2) Current assets
(a) Inventories	16215.65	15272.04
(b) Financial assets
(i) Trade receivables	8087.26	8138.84
(ii) Cash and cash equivalents	609.77	468.40
(iii) Bank balances other than (ii) above	215.49	212.12
(iv) Loans	41.52	36.42
(v) Other financial assets	1147.88	1477.32
(c) Other current assets	1961.83	6353.97
	28279.40	31959.11
Assets classified as held for sale	12.58	17.01
Total current assets	28291.98	31976.12
TOTAL ASSETS	115538.44	117159.66
EQUITY AND LIABILITIES
(1) Equity
(a) Equity share capital	4130.53	4130.53
(b) Other equity	46890.27	39364.35
Total equity	51020.80	43494.88
(2) Non-current liabilities
(a) Financial liabilities
(i) Borrowings	8954.74	17906.57
(ia) Lease liabilities	1938.42	1819.39
(ii) Trade payables
(a) total outstanding dues of micro and small enterprises	-	-
(b) total outstanding dues of creditors other than micro
and small enterprises	-	-
(iii) Other financial liabilities	3627.13	1231.07
(b) Provisions	4339.88	4525.89
(c) Deferred tax liabilities (net)	4005.87	1253.16
(d) Other non-current liabilities	436.98	439.97
Total non-current liabilities	23303.02	27176.05
(3) Current liabilities
(a) Financial liabilities
(i) Borrowings	13523.36	17701.46
(ia) Lease liabilities	285.57	249.16
(ii) Trade payables
(a) total outstanding dues of micro and small enterprises	74.96	103.57
(b) total outstanding dues of creditors other than micro
and small enterprises	9704.84	6910.84
(iii) Other financial liabilities	11019.96	11916.76
(b) Other current liabilities	3400.98	7555.04
(c) Provisions	3192.89	2039.84
(d) Current tax liabilities (net)	12.06	12.06
Total current liabilities	41214.62	46488.73
TOTAL EQUITY AND LIABILITIES	115538.44	117159.66

Steel Authority of India Limited
Consolidated Cash Flow Statement		(₹ crore)
	For the period ended	For the period ended
	30th September, 2021	30th September, 2020
A. CASH FLOW FROM OPERATING ACTIVITIES
Profit/(Loss) before tax	11007.09	(1270.00)
Adjustments for:
Depreciation and amortisation expenses	2082.12	1963.48
Loss on disposal of fixed assets (net)	69.37	-
Interest income	(154.62)	(108.03)
Finance costs	889.11	1585.01
Unrealised Loss/(Gain) on foreign exchange fluctuations	52.86	21.65
Loss/(Gain) on sale of non-current investments	(0.07)	-
Bad debts and provision for doubtful advances/receivables	50.25	36.21
Other provisions	122.82	30.18
Share of profit from joint ventures	(216.61)	(122.56)
Unclaimed balances and excess provisions written back	(51.07)	(82.75)
Operating Profit before working capital changes	13851.25	2053.19
Changes in assets and liabilities:
Trade receivables	(1012.09)	575.55
Loans, other financial assets and other assets	3206.24	(292.13)
Trade payable	2766.02	523.50
Other financial liabilities and other liabilities	(2667.27)	1682.30
Provisions	964.46	(1233.72)
Inventories	(1097.73)	3111.33
Cash flow from operating activities post working capital changes	16010.88	6420.02
Income tax paid (net)	(68.12)	12.80
Net cash flow from operating activities (A)	15942.76	6432.82
B CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant & equipment (including capital	(1728.20)	(1277.19)
work-in-progress) and intangibles
Proceeds from sale/disposal of property, plant & equipment	83.00	44.99
Purchase of current and non-current investments	0.06	8.10
Movement in fixed deposits (net)	(50.60)	31.29
Interest received	88.19	53.62
Net cash used in investing activities (B)	(1607.55)	(1139.19)

1. CASH FLOWS FROM FINANCING ACTIVITIES

	Proceeds from long-term borrowings (net)	(8951.83)	(5964.56)
	Lease liabilities	155.43	(71.56)
	Proceeds from short-term borrowings (net)	(4178.10)	2546.85
	Finance cost paid	(1243.73)	(1879.32)
	Net cash used in financing activities (C)	(14218.23)	(5368.59)
D	Increase in cash and cash equivalents (A+B+C)	116.98	(74.96)
	Cash and cash equivalents at the beginning of the year	518.28	190.54
	Cash and cash equivalents at the end of the year	635.26	115.58

The cash flow statement has been prepared using the Indirect Method as set out in Ind AS-7, Statement of Cash Flows. The accompanying notes are an integral part of these consolidated financial statements.