AMARENDU PRAKASH
Hind Zinc eyes lower production costs after record Q2 profit, sales
Hindustan Zinc reported its highest-ever profit and sales for the September quarter and the first half of the fiscal year. The company expects zinc production costs to be between $825 and $850 per tonne this year. Consolidated revenue for the September quarter surged to an all-time high of ₹15,093 crore. The net profit increased significantly to ₹6,412 crore compared to the previous year.
Hindustan Zinc Q2 Results: Net profit skyrockets 142% YoY to Rs 6,412 crore, revenue soars 77%
Hindustan Zinc reported a 142% year-on-year rise in Q2 FY27 net profit to Rs 6,412 crore, while revenue surged 76.5% to Rs 15,093 crore. EBITDA doubled to Rs 9,285 crore, with margins expanding to 62% on higher prices and production.
Hindustan Zinc names Amarendu Prakash as new CEO; quarterly profit more than doubles on strong metal prices
Amarendu Prakash will become Hindustan Zinc's new CEO on August 1. The company reported its first-quarter profit more than doubled from last year. Base and precious metal prices surged, boosting company earnings significantly. Mined and refined metal production saw a slight increase during the period. Total revenue from operations climbed substantially, reflecting strong market performance.
Amarendu Prakash steps down as SAIL chairman; interim CMD named
SAIL Chairman and Managing Director Amarendu Prakash has resigned from his position. The steel ministry has approved his departure. Krishna Kumar Singh will serve as interim CMD for three months. Ashok Kumar Panda has been recommended for the permanent role. Prakash's term concludes on April 2, 2026. The company is preparing for a leadership transition.
SAIL Q3 profit at Rs 374 crore on higher volumes, leverage
SAIL reported a sharp rise in December-quarter profit to Rs 374 crore, driven by higher volumes, operating leverage and disciplined cost control, despite volatile input costs and competitive pricing, while total income also rose strongly year-on-year.
SAIL draws plans for green push alongside diversification plans
SAIL is set to integrate green technologies and customer-centric solutions in its upcoming projects, aiming for sustainable steel production. The company plans to expand its crude steel capacity to around 35 million tonnes by 2031, aligning with the National Steel Policy 2017. SAIL is also exploring hydrogen-based steelmaking and carbon capture technologies to reduce its carbon footprint.
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SAIL Q1 Results: Net profit zooms to Rs 745 crore
country's largest steel maker, on Friday reported a multi-fold rise in consolidated net profit at Rs 744.58 crore in the quarter ended June 2025 on the back of improved operational efficiency, better cash flow and strong growth in sales volume.
After NMDC and MECON, steel maker SAIL opens office in Dubai to boost global presence
Steel Authority of India Limited has opened a representative office in Dubai. The aim is to boost steel exports and strengthen trade ties. The office will serve as a hub for the Middle East and North Africa region. Union Minister H D Kumaraswamy inaugurated the office. SAIL sources limestone from Stevin Rock LLC.
SAIL FY25 net profit falls 23% to Rs 2,371 crore
Steel Authority of India Limited's consolidated bottomline saw a 22.66% decline for fiscal year 2024-25. The total income stood at Rs 1.03 lakh crore. The Board proposed a final dividend of Rs 1.60 per share. However, the company reported a strong fourth quarter with a net profit increase of 11.13%.
US tariffs may change global trade flows, make India more vulnerable to steel imports: SAIL chairman
SAIL Chairman Amarendu Prakash suggests that higher US tariffs on steel and aluminum could alter global trade flows, potentially increasing India's vulnerability to steel imports. He mentions that the tariffs may make Asian countries redirect their steel exports to India, while emphasizing the need for safeguard duties to protect domestic industry.
India expected to surpass 300 MT capacity target by 2030: SAIL chairman
India is projected to exceed its 300 million tonnes steel capacity target by 2030, reaching 330 MT instead. Initially deemed unrealistic in 2017, this revised goal reflects strong demand growth in the sector. The steel industry witnessed a 14% growth last year, outpacing the GDP's 6.5%-7% rise, illustrating significant momentum.
SAIL Q3 profit slumps 62% YoY to Rs 126 crore on lower steel prices
SAIL Q3 Results: SAIL's Q3 profit dropped 62% YoY to ₹126 crore due to lower steel prices, despite higher sales boosting revenue. EBITDA improved amid cheap imports and market challenges. The company expects infrastructure growth to support domestic steel demand.
SAIL Q2 Results: Profit falls 31% to Rs 897 crore, total income down 16.8%
Steel Authority of India Ltd (SAIL) reported a 31% YoY decline in Q2 net profit to Rs 897.15 crore, with total income down 16.8%. Lower performance was due to cheaper imports, price drops, and inventory challenges.
India needs to impose tariffs on steel imports, SAIL's chairman says
India needs to impose tariffs on steel imports to support the domestic steel industry, according to Steel Authority of India's Chairman Amarendu Prakash. This comes as India's finished steel imports from China hit a seven-year high. ArcelorMittal Nippon Steel India's CEO also suggested doubling the customs duty on steel to prevent dumping and predatory pricing.
SAIL-BHP to jointly forge steel decarbonisation plan
Steel Authority of India Limited (SAIL) and BHP signed an MoU to explore decarbonisation strategies for SAIL's integrated steel plants. They aim to assess alternative reductants like hydrogen and biochar, building local R&D capabilities and addressing greenhouse gas emissions in the steel industry.
SAIL willing to participate in Critical Mineral Mission: Chairman Amarendu Prakash
SAIL, India's largest steel producer, is open to participating in the Critical Mineral Mission aimed at securing the country's mineral supply chain. The mission, announced in the Union Budget 2024-25, focuses on domestic production, recycling, and overseas acquisition of critical minerals like cobalt and lithium.
SAIL Q1 Results: Net plunges over 60% as steel prices melt on import pressure
SAIL experienced a substantial decline in net profit, falling over 60% to ₹81.78 crore in Q1 of FY 2024-25, due to reduced domestic steel prices impacted by imports. Total income slipped by 2.61%. The company recorded an exceptional gain of ₹311.76 crore and revoked suspensions of senior employees under scrutiny for policy discrepancies.
SAIL Q1 Results: Net profit slumps 93% YoY to Rs 11 crore on weak pricing, exceptional item
The steel maker had an exceptional loss of Rs 312 crore. The state-owned steel company reported a 3% year-on-year increase in steel sales during the quarter, reaching 4.01 million tonnes. Despite a slight 1.5% decrease in revenue to Rs 23,998 crore, the company's core operations remained strong with a 15% rise in earnings before interest, tax, depreciation and amortisation (EBITDA) to Rs 2,420 crore.
SAIL to invest Rs 6,500 Cr towards capex in FY25: CMD Amarendu Prakash
Steel Authority of India Ltd (SAIL) plans to invest ₹6,500 crore this fiscal year as part of its ₹1 lakh crore capex over the next few years, said CMD Amarendu Prakash. Speaking at an Indian Steel Association event, Prakash addressed concerns over Chinese steel dumping and urged government action to mitigate this issue.
Keeping close watch on steel imports: SAIL Chairman Amarendu Prakash
India's largest steel player, SAIL, is closely monitoring steel imports amid concerns over China's heavy tariffs on electric vehicles, batteries, steel, solar cells, and aluminium. India reported a 38% surge in steel imports to 8.319 million tonnes in 2023-24, becoming a net importer. Steelmakers are seeking government intervention and domestic players are demanding a curb on imports and review of free trade agreements.
SAIL directors suspended after Lokpal concludes discrepancies in commercial deals
Two directors and multiple executive director level officers of Steel Authority of India Limited (SAIL) were suspended after the Lokpal concluded there were discrepancies in commercial dealings at the public sector undertaking (PSU). The Steel Ministry suspended V S Chakravarthy, Director (Commercial), and A K Tulsiani, Director (Finance). SAIL also placed 26 Below Board Level officials on suspension. SAIL is under investigation for its dealings with Venkatesh Infra Projects and Avon Steel Industries. The Central Bureau of Investigation (CBI) has been directed to probe these dealings. The Lokpal has also instructed SAIL to formulate a clear and unambiguous policy regarding Memorandum of Understanding (MoU) pricing and relaxation.
SAIL working on plans to expand capacity by 15 MT in phase 1: Chairman Amarendu Prakash
State-owned steel maker SAIL is planning to expand its installed capacity by 15 million tonnes in the first phase, with the current capacity being around 20 million tonnes per annum. The company is working on detailed project reports and will use its own funds and seek market support to fund the expansion.
SAIL wants to increase coking coal purchases from Russia
Coking coal, a key raw material in steelmaking, is in short supply and Russian coking coal is cheaper compared with the ones from Australia, Prakash told reporters on the sidelines of an industry conference. Australia accounts for more than half of India's coking coal imports of around 70 million metric tons a year.
SAIL plans to begin trial production of special rails by month-end: Chairman Amarendu Prakash
Steel maker SAIL plans to begin trial production of head hardened (HH) rails used in metro rail and freight corridor projects by the end of October. SAIL had originally planned to start the trial production in August but delayed it due to demand for normal rails. HH rails are manufactured using head hardening technology to bear about 50% higher pressure compared to normal rails.
SAIL sources 6 lakh tonne coking coal from Russia in 8 shipments: Chairman Amarendu Prakash
State-owned SAIL has sourced 8 shipments of coking coal, each weighing 75,000 tonnes, from Russia between April and September of FY24. The company's chairman, Amarendu Prakash, also revealed that ICVL, a special purpose vehicle of SAIL, RINL, NMDC, CIL, and NTPC, is looking to double its production capacity to 4 million tonnes per annum. Prakash noted that the rising prices of coking coal will directly impact steel manufacturing costs and put pressure on the company's profit margins.
SAIL expects four coking coal ships from Russia in Sept quarter
Steel Authority of India (SAIL) is expecting four shipments of coking coal from Russia in the September quarter, according to Chairman Amarendu Prakash. The company is also working on doubling coking coal production capacity in its joint venture at Mozambique. Prakash mentioned that higher prices of coking coal and Europe's carbon tax mechanism would impact the company's margins and the cost of steel exports to Europe.
Steel Minister Scindia inaugurates SAIL's Rs 149-cr beneficiation plant in Chhattisgarh
Union Steel Minister Jyotiraditya M Scindia on Friday inaugurated a Rs 149-crore beneficiation project of Steel Authority of India Ltd (SAIL) at Kanker in Chhattisgarh. The minister virtually inaugurated the SAIL's Silica Reduction Plant set up at the company's Dalli iron ore mines.
Stocks in news: South Indian Bank, Coal India, HDFC Life, SAIL, Adani Green
South Indian Bank has finalised the candidates for the post of MD and CEO of the Bank. The lender will submit the application to the RBI seeking approval for the same.
Amarendu Prakash takes charge as SAIL chairman
He is a metallurgical engineer from BIT Sindhri and joined SAIL in 1991 as a Management Trainee (Technical). A company statement said Prakash has a career of more than three decades in SAIL. During his tenure, he has had exposure to plant operations at shop level, and to corporate functions in the Head office.
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