New Delhi: is Steel Authority of India Limited (SAIL), the Maharatna Steel PSU, has become the leader of crude steel production in India in FY 2019-20. SAIL produced 16.15 million tonnes of crude steel during the financial year 2019-20 and it was the highest among all other steel producers in the country.
SAIL chairman Anil Kaumar Chaudhary, has commented, “SAIL has been continuously focussing on ramping up its steel production from the new units, which came up under modernization along with optimally utilizing the older units. The concerted efforts to increase volumes have resulted in the Company becoming the largest domestic steel producer in FY’20. The Company’s well-coordinated production strategies leveraging augmented production capacities, which were installed under the modernization have started to fructify. In the near future, as the Nation comes out victorious in the fight against Corona virus, the market will definitely show green shoots of steel consumption and SAIL is fully geared up to cater to the steel demands of the Nation”.
During the FY 2019-20, SAIL has also achieved the best ever annual sales of 14.5 million tonnes (MT) with a growth of 2.8% over the corresponding period last year (FY 2018-19). The Company’s strategies to expand its market portfolio also yielded the highest ever exports of 1.18 million tonnes during FY 2019-20 which is an astounding 54% growth over CPLY.
Commenting on this, Chaudhary said “The Company has been building this sales momentum through its continued thrust on the marketing initiatives and activities. SAIL focused on developing and introducing a wider range of valued-added and market-oriented products. During FY’20, SAIL launched its branded “SAIL SeQR” TMT bars, a product which is a notch higher in its class in terms of various quality and safety aspects. We also have been gradually increasing our share of exports and went for deeper penetration of the market with our world class products including railway products.”
SAIL has continued the streak of sales growth consistently, especially from the third quarter onwards where the Company registered a growth of 26% in sales in the Q3FY’20. The Company posted increase in sales during November, December, January’20 by 36%, 47% and 35% respectively over CPLY. In the first year of launch itself, around 2 lakh tonnes of branded SAIL SeQR TMT has already been sold and it has evoked excellent response from the market.
Among other notable achievements, SAIL recorded the best ever despatch of 12,994 numbers of WAG9 Wheels for electric locomotives, a product which is an import substitution. The Company has also supplied 7295 Tonnes of DMR plates to critical defence projects of the Nation, a quantity which is also highest in the last 5 years. SAIL has also recorded the highest ever rail production of 12.85 Lakh Tonnes of UTS 90 prime rails in FY’20 with a 30% growth over CPLY. The Company also witnessed a whopping 52% growth in production of 260 metres rails, a part of the UTS 90 prime rails productions, over CPLY for the Indian Railways.