SAIL exceeds Q1 capex target
Steel Authority of India exceeded its capital expenditure target in the first quarter of the fiscal, a company statement said. Commenting on the public sector
Steel Authority of India exceeded its capital expenditure target in the first quarter of the fiscal, a company statement said. Commenting on the public sector undertakings quarterly performance company Chairman and Managing Director, Ashok Kumar Panda said SAIL contained borrowings and reduced the cost of borrowings through long standing financial credibility and further improvement in management of cash flows and debt.“Capital expenditure exceeded the target from Rs 2,306 crore to Rs 2,575 crore,” the statement added.According to SAIL, blast furnace productivity improved, steelmaking economics were reinforced through optimized ferro‑alloys and flux consumption, and scheduled capital repairs were advanced proactively to secure stability for the coming quarters.
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