Maharatna steel PSU, Steel Authority of India Limited (SAIL), has gone back to be being the leader of crude steel production in India in FY 2019-20.
As per an official release from SAIL the company produced 16.15 Million Tonnes of crude steel during the financial year 2019-20 this is stated to be the highest among all other steel producers in the country. As per sources the number one position in the last fiscal was held by JSW steel.
During the FY 2019-20, SAIL 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).
Commenting on the results SAIL’s chairman, Mr Anil Kumar Chaudhary, said “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”.
“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.”
— SAIL’s chairman, Mr Anil Kumar Chaudhary
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.
It was further stated that the company has been building its sales momentum through its continued thrust on the marketing initiatives and activities.
During FY’20, SAIL also 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’ said Mr Chaudhary.
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 stated the release.