SAIL Corporate PPT

7/29/2019 SAIL Corporate PPT

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January 2011

Corporate PresentationStrictly private and confidential

Steel Authority of India Limited


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Section 1Overview of SAIL


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SAIL Largest Steel Producer in India(a)

FY2010 saleable steel production of 12.63MT

Identified modernisation and expansion plan expanding

Second largest iron ore mining operations in India

.

One of only four PSEs in India accorded Maharatna status

FY2010 saleable steel sales of 12.1MT, revenue ofUS$8,954m and net income of US$1,511m

Market capitalization of US$16.9 billion(b)

3

Notes: USD-INR exchange rate of 45.31 as on January 6, 2011(a) For the year ended 31-Dec-09. Source: Joint Plant Committee, Ministry of Steel(b) Market capitalization as on January 6, 2011, Bombay Stock Exchange


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...With an Established and Successful OperatingTrack Record...

Over 50 years of experience in the steel sectorOver 50 years of experience in the steel sector

1954 1973 1978 1986 1989 1992 1996 1997 1998 2006 20101995

Hindustan SteelLtd (HSL)established

HSL comprised

SAIL became anoperatingcompany

Steel making

MaharashtraElektrosmeltLimited(MEL) taken

Listing of SAILon BombayStockExchange

SAIL accordedNavratna status

IISCO mergedwith SAIL

SAIL embarkedon the

Bhilai Steel

Plant, DurgapurSteel Plant,Rourkela SteelPlant and Alloy

subsidiaries

dissolved andmerged into SAIL

Demerger ofHSCL and NMDC

over as a

subsidiary

(BSE) modernization

and expansionplan

Listing of SAIL onNational StockExchange of India

companies

Indian Iron &Steel Company(IISCO) takenover as asubsidiary

SAIL incorporated as a holding company for HSL,Bokaro Steel Ltd, Salem Steel Ltd, Hindustan SteelWorks Construction Ltd (HSCL), Bharat Coking Coal

VisvesvarayaIron & Steel Ltd(VISL) taken

Listing of SAILGDRs on theLondon Stock

VISL mergedwith SAIL

SAIL accordedMaharatna status

4

, a ona nera eve opmenCorporation Ltd (NMDC) over as asubsidiary xc ange


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...and Strategically Located Operations

Total current saleable steel capacity 11.20MTPAManufacturin facilities

Plant

Currentnameplatecapacity

(MTPA)

FY10production

(MT)

Plannedinstalledcapacity

(MT)(a)

FY10 saleable steel production 12.63MT

Total saleable steel capacity post expansion 20.23MTPA

Integrated steel plants

Bhilai Steel Plant 3.15 4.37 6.56

Durgapur Steel Plant 1.59 1.88 2.12

Rourkela Steel Plant 1.67 2.00 3.99

Bokaro Steel Plant 3.78 3.46 4.18

Madhya Pradesh

Odisha

West Bengal

Jharkhand

. . .

Special steel plants

Salem Steel Plant 0.18 0.23 0.34

Maharashtra

Alloy Steels Plant 0.18 0.18 0.43

Visvesvaraya Iron &Steel Plant

0.10 0.10 0.22

Total 11.20 12.63 20.23


Alloy and special steel plants

Ferro alloy plant

Iron ore mine

Limestone mine

Karnataka

Tamil Nadu

5

o om e m ne

Coal mineNote: Capacity numbers refer to saleable steel capacity(a) After implementation of modernisation and expansion plan Note: Map not to scale


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Section 2Positive Sector Dynamics


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India A High Growth Economy

India one of the fastest growing economies

10.5%9.7%

7.5%

5.0%

4.0% 2.7%

9.6%8.4%

4.1% 3.9%4.3%

2.2%

9.5%

8.1%

4.1% 3.8% 4.0%2.4%4%

6%

8%

10%

12%

alG

DPgrowth

0%

2%

China India Brazil Mexico Russia Advanced economies

R

2010P 2011P 2015PNote: Annual percentage change in GDP at constant prices

Sector-wise infrastructure investment Infrastructure investment as % of GDP

Source: International Monetary Fund, World Economic Outlook, October 2010 update

...with rapidly increasing infrastructure spend

6.0%6.5%

7.3%8.2%

9.3%

6%

8%

10%

turein

vestment

%

ofG

DP

217.9

514.0

200

400

600

(US$bn)

0%

2%

4%

FY08 FY09 FY10 FY11 FY12

Infrastruas

0

X plan XI plan

Electr ic ity ( incl. NCE) Roads and Bridges Telecommunicat ion

Railways (incl. MRTS) Irrigation (incl. Watershed) Water Supply and Sanitation

Ports Airports Storage

7

Source: Planning CommissionNote: USD-INR of INR40/$Source: Planning Commission


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With a High Growth Potential Steel Market

Steel consumption in India has been growing rapidly...

31.2 34.0 34.2

39.243.1

49.155.5 53.6

57.6

40

50

60

70

(MT)

0

10

20

2001 2002 2003 2004 2005 2006 2007 2008 2009

Source: World Steel Statistical Yearbook 2010

...with growth projected to sustain However, per capita consumption is low

.422.1

203.1 193.3200

300

400

pitaconsumption

(kg)

8.2%

13.6%

10%

15%

andg

rowth

India isexpected to be

the 3rd largeststeel consuming

49.8

0

100

Japan China US World India

2009perc

0%

2010 2011

De country after

China and USAby 2011

8

Source: World Steel Association Statistical Yearbook 2010Source: World steel short range outlook, October 2010, World Steel Association


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Driven by Large, Growing End Markets

Strong growth on the back of improved economic conditions and strong infrastructure spending by thegovernment

s ng construct on act v ty n t e rea estate, n rastructure an n ustr a segments expecte to oost t edemand for long steel products

Sector has grown at a CAGR of 10.34% from FY2004 to FY2010(a)

Prime demand driver for allo steel

AutomobileAutomobile Production of passenger and commercial vehicles expected to reach 4.9 million and two and three-wheelerproduction expected to reach 36.5 million in 2016(b)

Growth in auto components resulting from growth in automobiles demand to further support thegrowth of steel industry

ConsumerConsumerDurablesDurables

Sector expected to witness robust growth on account of rising consumer income levels

Domestic appliances market expected to drive demand for flat steel products

Oil & GasOil & GasIndustryIndustry

Major consumer of steel tubes and pipes

Expected to increase demand for long products, such as pipelines

Expected to drive demand for steel used in the construction market due to increases in refinery capacity(b)

Machinery &Machinery &EquipmentEquipment

Major consumer of steel products and has been witnessing strong growth

9

(a) Source: Society of Indian Automobile Manufacturers(b) Source: India Brand Equity Foundation (Ministry of Commerce and Industry)


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Section 3SAIL: Well Positioned to Benefit


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Leadership Position in India

Largest steel producer in India

Crude steel Finished steel

10%

21%

Tata Steel

SAIL

8%

17%

Tata Steel

SAIL

4%

5%

5%

8%

Ispat

Essar

Rashtriya Ispat

JSW

4%

5%

5%

8%

Ispat

Essar

Rashtriya Ispat

JSW

Non-flat products Flat products

3%JSPL 2%JSPL

with leadership across products

5%

10%

10%

Tata Steel

Rashtriya Ispat

SAIL

12%

15%

23%

Tata Steel

JSW

SAIL

0%

0%

1%

Essar

Ispat

JSPL

0%

2%

9%

Rashtriya Ispat

JSPL

Ispat

ssar

11

Note: Share of production for sale for FY2010Source: Joint Plant Committee


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Fully Integrated Producer with Strategically LocatedOperations...

Bokaro

Madhya Pradesh

West Bengal

JharkhandChhattisgarh

Purnapani

Bhawanthpur

Tulsidamar

Chasnalla

Jitpur

Ramnagore

SteelPlant

Durgapur

Satna

Kuteshwar

Hirri Bolani Thakurani

IISCO Steel Plant


OdishaMaharashtra

DallijRajhara

BarsuaTaldihKalta

Rourkela Steel Plant

Chiria, Gua, KiriburuMeghahatuburu

Steel PlantNandini

BhilaiSteel Plant

Alloy and special steel plants

Ferro alloy plantIron ore mine

Limestone mine

Dolomite mine

Coal mineKarnataka

Kenchapura

Bhadigund

Five integrated steel plants and three special steel

plants located principally in eastern and southern IndiaTamil Nadu

Easy and cost efficient access to raw materials

Note: Map not to scale

12


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...and Access to Large Resource Base

Access to largecaptive raw

materials base

Second largest mining operations in India in FY2010

99.9% of iron ore requirement in FY2010 through captive supplies

Plans to ramp up existing mines to meet post expansion requirements

41% of dolomite and 38% limestone requirements in FY2010 met through captive sources

Large land bank Sizeable land bank provides flexibility for expansion and growth at existing locations

Relativeself sufficiency

in ower

Owns and operates four captive power plants (aggregate capacity of 211MW)

50% interest in four captive power plants (aggregate capacity of 1,116MW)

114,000 full-time employees including over 15,000 executives Reducing employee cost / tonne - expanded capacity planned to be operated with the current

arge s emanpower base

num er o emp oyees

Management Training Institute plays key role in enhancing the managerial competence ofexecutives

Emphasis on skill based training to remain competitive

13


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Diversified Product Mix Supported by StrongDistribution and Sales Network

Comprehensive product portfolio Strong distribution and sales network

HRC CRC Wire Rails

Jammu & Kashmir

HimachalPradesh

37 branch sales offices and67 warehouses

Over 2,500 dealers across

Steel Plate Steel Bar Sections TMT

Punjab

Haryana

Rajasthan

Uttaranchal

Uttar Pradesh

Bihar

Sikkim

ArunachalPradesh

Assam Nagaland

Delhi

630 districts

FY2010 sales breakup by productsGujarat

Madhya Pradesh

Orissa

West Bengal

Maharashtra

Jharkhand

Manipur

MizoramTripura

Chhattisgarh

Andhra Pradesh

Plates20.6%

Coated

Rods / bars16.7%

Semis10.9%

0.5%

Branch sales offices

1. Northern region

2. Eastern region

3. Western region

4. Southern region

Corporate office

CMO Headquarters

Regional offices

Departmental warehouse

Consignment agency yard

TamilNadu

Kerala

HR coils /sheets28.2%

Railwaymaterials

Structurals

CR coils /sheets6.7%

products2.0%

14

Shipping office

Customer contact office

7.3%.

Note: Map not to scale


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In-house R&D Centre and Captive Engineering Shops

Strong management focus on R&D initiatives providing competitive edge

New technologies andproducts

Improving processes and products

Cost reductionQuality

improvementEnergy

conservationAutomation

Product developmentand application

Equipped with over 300 scientists and engineers

Strong track record of developing and commercializing improved processes and products

u p e pa en s ve pa en s an copyr g s e o a e

Bagged 10 prestigious awards for excellence in FY2010

Significant products developed include:

DMR 249 Gr. B Q&T plates used in aircraft carrier ships

Roof / rock bolt TMR rebars used in mines and tunnels

Captive engineering shops and refractory plants enable refurbishment and manufacturing of certain costly

15

equipment and spares in-house


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Experienced Management Team Supported by StrongExecution Team

Experienced Management Team

C S VermaChairman

Soiles BhattacharyaDirector(Finance)

B B SinghDirector (Personnel)

Shuman MukherjeeDirector (Commercial)

Devinder KumarExecutive Director

..Supported by Strong Execution Team

V K AroraExecutive Director(In-Charge), Bhilai

Steel Plant

P K BajajCEO, Durgapur

Steel Plant

S N SinghCEO, Rourkela

Steel Plant

S S MohantyCEO, BokaroSteel Plant

N K JhaExecutive Director(In-Charge), IISCO

Steel Plant

16


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Responsible Corporate Citizen

Focus on CSR initiatives Environmental Protection and Conservation

Measures undertaken to minimize environmental impactinclude

Established environmental department at each of the

Installed various types of anti-pollution equipment for thetreatment of waste water, air pollution, solid waste andnoise pollution emitted from our production facilities

Currentl usin modern cleaner technolo inmodernisation and expansion projects

Objective to plant over 20 million trees

Committed to minimising waste generation and promotingrecover , rec cle and reuse

Implementing various schemes to improve the quality of lifeof the local population in vicinity of our steel plants

Focus on Education & Health issues

Shown a positive trend recently in reduction in air emissions,effective water and effluent management and enhancedwaste utilization

Ongoing modernisation and expansion programme includes

Adopted 79 villages across eight states that are graduallybeing developed as model steel villages (MSV). 54 MSVshave been completed

Our CSR programme has received various awards and

17

pollution control measures and equipment in new facilities aswell as certain upgrades to our existing facilities


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Section 4Growth Strategies

C lid t L d hi P iti th h C it


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Consolidate Leadership Position through CapacityExpansion and Modernization

Ongoing modernization and expansion at key facilities

Initiated a modernisation and expansion plans, over lastfour years, in order to maintain leadership position in theIndian steel market

Board approved investment of approximately Rs. 701,690 mof which Rs. 220,890m incurred as of Dec 31, 2010 3.41

6.56

4.185.0

6.0

7.0

Key objectives of the plan include:

Expansion of saleable steel capacity to 20.23MTPA

Expansion of hot metal capacity to 23.46MTPA

Modernise facilities by achieving entire production of 3.153.780.53

2.32

0.40

1.84

2.12

..

2.39

2.0

3.0

4.0

MTPA

steel through Basic Oxygen Furnaces (BOF) and

approximately 96% by continuous casting Establishing up to ten steel processing units to increase

production of finished steel

1.59 1.67

0.55 0.10 0.18 0.18

0.12 0.16 0.250.220.34 0.43

0.0

.

Bhilai Durgapur Rourkela Bokaro IISCO Visvesaraya Salem Alloy Steels

Current Under expansion

Annual production capacity of mines expected to increase

suppor e y eve opmen o m nes o mee a ona raw ma er a requ remen s

10.0 10.0

14.0

12.0

16.0

4MTPA pellet plant planned at Gua mines

Plans to develop new mines at Rowghat and Taldih andexpand production potential of Chiria

4.1 4.3 4.3

2.4

6.55.5

4.3

7.0

4.0

8.0MTPA

19

0.0

Bolani Meghahatuburu Kiriburu Gua Taldih Chiria Rowghat

Current Post-expansion


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Increase Focus on Finished Steel

Focus on value added products

Plates20.6%

Semis10.9%

Pipes0.5%Value added

steel

37.0%

Value added

steel55.0%

Plates16.4%Rods / bars

23.3%

Pipes0.6%

HR coils /sheets

CR coils /

Coatedproducts

2.0%

Rods / bars16.7%

HR coils /sheets22.1%

CR coils /sheets

Coatedproducts

4.8%

28.2%

Railwaymaterials

7.3%

Structurals7.1%

6.7%

Other finishedsteel products

63.0%

Other finishedsteel products

45.0%

Railwaymaterials7.4%

Structurals15.0%

10.4%

Autograde CR Products, Galvanised Coils / Sheets Plates / Pi es to meet u to API 80 Grade s ecification

Key products to be added

Universal Beams / Heavy Beams in the sizes upto1100mm to support increasing infrastructural requirements

Rails for Metro-Railways

Increased production of Rails to meet the increasing requirements of Indian Railways

Quantum um in Rounds and Structural roduction leadin to elimination of entire semi-finished steel

20

Wider Plates in the size of 4,300mm


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Continuous Improvement in Operating Efficiencies

Reduction in energy consumption Gradual reduction in coke rate

7.16

6.95

6.9

7.0

7.1

7.2

rgy

consumption

al/

TCS)

541

533

521525

530

535

540

545

rate

(kg/thm)

. 6.72

6.5

6.6

6.7

.

FY07 FY08 FY09 FY10

Specificen(G

517

505

510

515

520

FY07 FY08 FY09 FY10

Coke

Improvement in manpower productivity Focus on raising continuous casting and Basic Oxygen

226

160

180

200

220

240

steel/man/year Furnaces (BOF) steel making

Likely to require less energy

Permits more automated process and greater flexibility

Improved yield from crude to saleable steel

98

134

80

100

120

140

Tonnesofcrude

Implementing new technologies to use Indian coal in plants

Installing coal dust injection systems at Rourkela and

Bokaro to use non-coking coal in furnaces

21

FY01 FY05 FY10

productivity through retraining and rationalization

Augment Raw Material Base and Improve Quality of


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Augment Raw Material Base and Improve Quality ofInputs

Iron ore

Aim to expand annual production capacity of iron ore mines by 10 12 MTPA

Plan to develop new mines at Rowghat and Taldih and expand production of Chiria mines

New 4MTPA pellet plant planned to enable use of Iron Ore fines

Developing new coking coal mines at Tasra and Sitanala in Jharkhand

-

Coking coal

, . .

Exploring new alliances / linkages and acquisitions for thermal and coking coal mines

International Coal Ventures Pvt Ltd - JV with CIL, RINL, NMDC and NTPC set-up to acquire coal assets globally

Exploring technologies which do not require coking coal / require less coal in steel manufacturing

JV with Tata Steel Limited to acquire and develop coal blocks and mines in India

Limestone & Entered into long-term agreements with dolomite and limestone producers to meet remaining requirements

o om te MoU to jointly develop limestone mine in Himachal Pradesh with expected capacity of 3MTPA

Increasing captive power generation, through JVs with NTPC and DVC, to ensure dependable supply of power andsubstantial reduction in energy costs

Entered into a MoU with Larsen & Toubro to develop and implement captive or independent power plants to meetfuture power requirements from FY2012 to FY2020

Others

Installation of coal dust injection systems at Rourkela and Bokaro to allow use of non-coking coal in furnaces

Ex lorin technical and economic feasibilit of em lo in ITmk3 furnace technolo to reduce in ut of cokin coal

22

Setting-up of captive pellet plant


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Strategic Alliances to Further Support Growth Initiatives

Area of focus Key Strategic Alliances / Partnerships Key Objectives

MoU with Posco to explore utilizing FINEX technology and manufactureTechnologicalTechnologicalupgradationupgradation

and commercialization of CRNO steel

MoU with Kobe Steel to explore employment of ITmk3 single stepfurnace technology at ISPs

International Coal Ventures Ltd set up as JV with CIL, RINL, NMDC and

NTPC to acquire coal assets globally

Raw MaterialsRaw Materials

JV with MOIL to produce ferro-manganese and silico-manganese tolower cost of steel production

MoU with NMDC to jointly develop limestone mine in Himachal Pradeshwith expected capacity of 3MTPA

S&T Mining JV with Tata Steel for acquisition and developmentof coal blocks/mines

EnergyEnergy

JVs with NTPC and DVC for power plants for captive consumption MoU with L&T to develop and implement captive or independent power

plants to meet future power requirements

26% stake in Bokaro Jaypee Cement Ltd which is constructing a

CementCement. cemen p an a o aro

26% stake in Bhilai Jaypee Cement Ltd which is constructing a 2.2MTPAcement plant at Bhilai

ShippingShipping JV with Shipping Corporation of India for shipping of imported cokingcoal

WagonWagonManufacturingManufacturing

JV for manufacture of specialized wagons

-- JV with Tata Steel to promote e-commerce activities in steel and

23

related areas


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Section 5Robust Financial Performance


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Financial Performance

Net sales EBITDA

9,5388,954

8,000

10,000

12,000

)

2,457

2,692

30.1% 25%

30%

35%

2,500

3,000

4,171 4,333

0

2,000

4,000

6,000

(US$

1,149949

25.8%.

.

21.9%

5%

10%

15%

20%

500

1,000

1,500

,

(US$m)

Net income ROE(1) and ROCE(2)

FY09 FY10 1H FY10 1H FY11FY09 FY10 1H FY10 1H FY11

EBITDA % Margin

22.0%

20.3%

24.0%23.3%

20.0%

25.0%1,378

,

661

14.5%

16.9%

15.8%

11.5%12%

16%

20%

800

1,000

1,200

1,400

1,600

US$m

)

15.0%

FY09 FY10

0%

4%

0

200

400

FY09 FY10 1H FY10 1H FY11

25

(1) Calculated as net income/Networth(2) Calculated as profit before tax/(Net fixed assets (excluding CWIP) + working capital)

Net income % Margin

Note: US$ INR of 45.31 as on January 6, 2011Note: H1FY10 and H1FY11 numbers are standalone


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Financial Performance (continued)

Sound leverage position

Net debt

1 000

(500)

0

)

Debt/Equity Debt/EBITDA

0.31x

0.52x

0.40x

0.50x

0.60x 1.45x

1.20x

1.60x

(2,175)

(1,128)

(2,500)

(2,000)

(1,500)

FY09 FY10

(US$

0.00x

0.10x

0.20x

0.30x

FY09 FY10

.

0.00x

0.40x

0.80x

FY09 FY10

Cash flow from operations

Strong cashflow generation

Working capital(1) Cash balance(2)

1,364

1,125

800

1,200

1,600

S$m

)

5,9606,428

4,000

5,000

6,000

7,000

S$m

)

4,093

5,021

3,000

4,000

5,000

6,000

S$m

)

0

400

FY09 FY10

(

0

1,000

2,000

,

FY09 FY10

(

0

1,000

2,000

FY09 FY10

(

26

. ,

(1) Calculated as current assets Net current liabilities Net provisions (Short term)(2) Calculated as Cash & Bank balances + marketable investment in shares


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Section 6Summary


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Key Strengths

Lar est steel roducer in

1

high growth marketsof India

Experiencedmanagement

supported by strong

Strategically

located fully

27

operations

36

Robustfinancialposition

Diversifiedproduct mix

supported by

45

and distribution

network

ngo ngmodernization and

expansion plan

28


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Appendix


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Details of Operations

Saleable steel roduction

Plant LocationNameplate Capacity

(in MTPA)FY2010(in MT)

FY2009(in MT) Primary Products

Integrated Steel Plants

Bhilai Steel Plant (BSP) Bhilai, Chhattisgarh 3.15 4.37 4.49 a es, ra s ong ra s; eavy s ruc ura eams; c annes, ang es , crane

rails, merchant products (angles, channels, rounds and TMT bars), wirerods (TMT, plain and ribbed); semis

Durgapur Steel Plant (DSP) Durgapur, West Bengal 1.59 1.88 1.79 Railway wheels & axles; TMT bars and rounds, skelp; medium structural

(beams; channels, angles), semis

Plates, HR coils/plates; CR coils/sheets; GP/GC sheets; ERW/SW pipes,, . . .

CRNO electrical steel, tin plates, special plates for defence

Bokaro Steel Plant (BSPL) Bokaro, Jharkhand 3.78 3.46 3.38 HR coils/sheets/plates; CR coils/sheets; GP sheets/coils and GC sheets;TMBP, slabs

IISCO Steel Plant (ISP) Burnpur, West Bengal 0.55 0.41 0.40 Heavy/medium/light structural (beams, channels, angles),bulb bars

(defence), special sections (Z-bar, Z-piling, MS Arch), heavy & light rails,rounds/bars

Sub Total 10.74 12.13 12.05

Special Steel Plants

Alloy Steels Plant (ASP) Durgapur, West Bengal 0.18 0.18 0.17 Alloy steel blooms, bars, plates, forged products, stainless steel slabs and

armour grade slabs (for special plates for defence)

Salem Steel Plant (SSP) Salem, Tamil Nadu 0.18 0.23 0.18 HR & CR stainless steel products, HR carbon steel products, coin blanks

Visvesvaraya Iron & SteelPlant (VISP)

Bhadravati, Karnataka 0.10 0.10 0.09 Bars, rounds, billets, blooms, and forged alloy & special steel products

Sub Total 0.46 0.50 0.44

Total 11.20 12.63 12.49

30


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Financial Performance

111,307121,978

27.5%

40%125,000

Net sales EBITDA

432,187405,726

400,000

500,000

52,04642,992

30.1%

25.8%

21.9%

0%

10%

20%

0

25,000

50,000

75,000

,

(INRm)

188,990 196,323

0

100,000

200,000

300,000

(INRm)


EBITDA % Margin

Net income ROE(1) and ROCE(2)


62,45368,461

29,939

14.5%

16.9%

15.8%

11.5%12%

16%

20%

40,000

50,000

60,000

70,000

80,000

(INRm

)

22.0%

20.3%

24.0%23.3%

20.0%

25.0%

,

0%

4%

0

10,000

20,000

,


15.0%

FY09 FY10

31

Net income % Margin

(1) Calculated as net income/Networth(2) Calculated as Profit before tax/(net fixed assets (excluding CWIP) + working capital)Note: H1FY10 and H1FY11 numbers are standalone


33/33

Financial Performance (continued)

Sound leverage position

Net debt

(40,000)

(20,000)

0

)

Debt/Equity Debt/EBITDA

0.31x

0.52x

0.40x

0.50x

0.60x

1.45x1.50x

2.00x

(98,564)

(51,128)

(120,000)

(100,000)

(80,000)

(60,000)

FY09 FY10

(INR

0.00x

0.10x

0.20x

0.30x

FY09 FY10

0.78x

0.00x

0.50x

1.00x

FY09 FY10

Cash flow from operations

Strong cashflow generation

Working capital(1) Cash balance(2)

61,815

50,972

40,000

50,000

60,000

70,000

INRm

)

270,070 291,256

200,000

300,000

NRm

)

185,469

227,506

150,000

200,000

250,000

NRm

)

0

10,000

20,000

,

FY09 FY10

(

0

100,000

FY09 FY10

(I

0

50,000

,

FY09 FY10

(I

32

(1) Calculated as current assets Net current liabilities Net provisions (Short term)(2) Calculated as Cash & Bank balances + marketable investment in shares

Date post:	04-Apr-2018
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SAIL Corporate PPT

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