Steel Authority of India Ltd. (SAIL) clocked its best-ever quarterly sales at 4.27 million tonnes (MT) during the March quarter of the last fiscal year, up 14% from the year-earlier period.
Crude steel production, too, increased by 6% during the quarter to 4.55 MT.
Commenting on the annual figures, the company said despite the volatility in the market during the year, determined efforts by the company to improve its volumes saw it clock its best-ever annual sales at 14.87 MT, a growth of 4.4% over 14.23 MT during FY20,” it said.
SAIL’s CMD Ms. Soma Mondal said, “A multi-pronged strategy has helped us top the performances during the month, quarter as well as the year.” The company has reduced its gross debts by around Rs. 16150 crore to stand at Rs. 35330 crore (provisional) as on March 31, 2021 vis-àvis Rs. 51481 crore as on March 31, 2020 stated the release from the company.
SAIL produces iron and steel at five integrated plants and three special steel plants, located principally in the eastern and central regions of India and situated close to domestic sources of raw materials. SAIL manufactures and sells a broad range of steel products