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SAIL wants to increase Indian Railways' rail supply prices

28 Nov 2023 , 12:05 PM

During a post-earnings call with analysts, the company's director of finance, Anil Tulsiani, stated that the Steel Authority of India (SAIL), the largest state-owned steel producer in the nation, is attempting to raise the provisional price of rails to the Indian Railways for FY 22–23 and FY 23–24, citing higher costs.

According to media sources, the railways established the tentative pricing last year at Rs 67,500 per tonne, up from Rs 63,624 per tonne set for FY18-19. These rates are for rail supply with an Ultimate Tensile Strength (UTS) of 90 kg/mm2 and a weight of 60 kg, or 52 kg per meter, as per an agreement between SAIL and the railways.

'For FY'23 and continuing on in FY '24, we have been getting a provisional price of Rs 67,500 per tonne, whereas the price finalised for FY '21-'22 is around Rs 85,300 per tonne,' Tulsiani stated on November 16.

'We will be approaching the railways to give us an ad hoc increase until we submit the cost data of '22-'23 to the CA Cost Office and it is finalised, we will be requesting for an ad hoc increase for '22-'23 as well as '23-'24 since our costs are much more,' he stated.

In FY22, SAIL sold the railroads 0.92 million tonnes of rails. In contrast to a deficit of Rs 329.36 crore in the same quarter previous year, the company announced earlier this month a consolidated net profit of Rs 1,305.59 crore for the September quarter.

For feedback and suggestions, write to us at editorial@iifl.com

Steel Authority of India Limited - Wikipedia

Related Tags

  • Indian Railways
  • SAIL
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