KOLKATA: Steel Authority of India Limited (SAILNSE -0.38 %) produced 16.15 million tonne of crude steel during the financial year 2019-20 and it was “the highest among all other steel producers in the country,” an official statement on Wednesday said.
Commenting on it, Anil Kumar Chaudhary, Chairman, SAIL 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 FY20.
The company’s production strategies leveraging augmented production capacities, which were installed under the modernization have started to fructify. In the near future, 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, he added.
During FY2019-20, SAIL also achieved the best ever annual sales of 14.5 million 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 mt during FY 2019-20 which is an astounding 54% growth over FY 2018-19.
The company has been building this sales momentum through its continued thrust on the marketing initiatives and activities,” Chaudhary said adding, SAIL focused on developing and introducing a wider range of valued-added and market-oriented products. “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,” he added.