The company produced 16.3 Million Tonnes (MT) crude steel in FY19, registering a growth of eight per cent over the corresponding period last year
The Steel Authority of India Limited (SAIL), the country’s largest public sector steel producer, has shown a much improved performance in the financial year 2018-19 in terms of production, techno-economics, sales and so on. SAIL produced 16.3 Million Tonnes (MT) crude steel in FY19, registering a growth of eight per cent over the corresponding period last year and clocking the best ever saleable steel production during the year. The production from new mills of the company’s plants has recorded a marked improvement in FY19, giving an enriched product basket. The total steel despatch from SAIL was the highest ever at 14.86 MT during FY19 due to a dedicated logistics setup created by the organisation. recently.
The FY19 ended with a robust performance during Q4 with a growth of 10 per cent, 8 per cent, 14 per cent and 13 per cent in respect of production of hot metal, crude steel, saleable steel and sales respectively. Also, 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 FY19 with around 5.66 lakh tonnes of production and 35 per cent higher than the H1 figure. In line with this improved performance, the company has managed to improve its turnover by 16 per cent which now stands at Rs 66,100 crore.
The company’s chairman Anil Kumar Chaudhary, appreciated the efforts of SAIL employees and said, “The FY19 was a remarkable year for SAIL with a marked turnaround in various parameter like production, techno-economics, cost of production, higher production of value added products apart from ramping up of the production from new mills and sales.”
However, he feels that the challenge for the next year is much higher with a plan of 21 per cent increase in production of crude steel and similar growth in sales to catch on with the fast growing domestic steel consumption backed by an increased demand from infrastructure and construction segments. “The entire organisation is fully geared up to scale new heights in FY20,” added Chaudhary.
