The operating profits of major steel players in the country are likely to see huge drop during the current fiscal year, said the latest market forecast report published by India Ratings (IndRa).
The EBITDA of steel makers are projected to witness 20-30% decline in FY21, primarily due to fall in demand and price realization. The sector was badly impacted by halt in construction activities due to the extended lockdown. The onset of monsoon and shortage of workforce due to mass migration of labourers are likely to impact steel manufacturing activities in the country.
Source: SEAISA
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