New Delhi: Steel Authority of India Limited (Sail) – the country’s largest public sector steel producer has clocked a 16% growth in its turnover to finish the fiscal 2018-19 with Rs 66,100 crore.
The Central-sector steel producer shown much improved performance in the fiscal 2018-19 in terms of production, techno-economics and sales.
Sail produced 16.3 million tonnes (mt) crude steel in FY’19, registering a growth of 8% over CPLY and clocking the best ever saleable steel production during the year. Total steel dispatch from SAIL was the highest ever at 14.86 my during FY’19 due to a dedicated logistics set-up created by the company.
The FY’19 ended with a robust performance during Q4 with a growth of 10%, 8%, 14% and 13% in respect of production of Hot Metal, Crude Steel, Saleable Steel and Sales respectively.
In FY’19, Sail had the highest ever production of 9.85 lakh tonnes of UTS 90 Rail. The production of Rails got momentum in the second half of FY’19 with around 5.66 lakh tonnes of production and 35% higher than H1 figure. In line with this improved performance, company has managed to improve its turnover by 16% which now stands at Rs. 66,100 crore.
Sail chairman Anil Kumar Chaudhary said, “The FY’19 was a remarkable year for Sail with marked turnaround in various parameter like production, techno-economics, cost of production, higher production of value added products apart from ramping up of production from new mills and sales.”
However, he feels that the challenge for next year is much higher with a plan of 21% increase in production of crude steel and similar growth in sales to catch on with fast growing domestic steel consumption backed up by increased demand from infrastructure and construction segments. “The entire Organization is fully geared up to scale new heights in FY’20”, he asserted.