Steel companies stare at significant margin correction in FY2023: Icra4 min read . Updated: 16 Jun 2022, 04:15 PM IST
- Icra has revised the steel sector’s outlook to stable from positive
After two back-to-back years of robust growth, steel companies are staring at a significant decline in earnings over the next 12 months as the industry faces multiple headwinds from export duty on finished steel, unprecedented coal and energy cost pressures, and muted domestic demand, Icra said on Thursday. The rating agency has revised the sector’s outlook to stable from positive.
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