SAIL becomes India’s largest crude steel producer in FY 2019-20

FY 2019-20 had a lot of goodies in the bag for SAIL as the steel Maharatna has achieved the best-ever annual sales in the financial year 2019-20 with a growth of 2.8 percent
SAIL becomes India’s largest crude steel producer in FY 2019-20

New Delhi: Public Sector steel giant, Steel Authority of India Limited (SAIL) on Wednesday said that it has become the leader of crude steel production in India for the financial year 2019-20 (FY 2019-20). According to the steel PSU, the company had produced 16.15 million tonnes (MT) of crude steel in the previous financial year and it was the highest among all other steel producers in the country.

SAIL's Chairman Anil Kumar Chaudhary has commented, "SAIL has been continuously focussing on ramping up its steel production from the new units, which came up under modernisation along with optimally utilizing the older units. The company's well-coordinated production strategies leveraging augmented production capacities, which were installed under the modernisation have started to fructify.

"SAIL's concerted efforts to increase volumes have resulted in the company becoming the largest domestic steel producer in FY 2019-20"- Anil Kumar Chaudhary, Chairmaan, SAIL

In the near future, as the Nation comes out victorious in the fight against Coronavirus (COVID-19), 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."

The best-ever annual sale

"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 percent 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 percent growth over the corresponding period last year (CPLY)," the company further said.

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 the valued-added and market-oriented products. During FY 2019-20, 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."

Other achievements 

SAIL has continued the streak of sales growth consistently, especially from the third quarter onwards where the company registered a growth of 26 percent in sales in the third quarter of FY 2019-20. The company posted an increase in sales during November 2019, December 2019 and January 2020 by 36 percent, 47 percent and 35 percent respectively over CPLY. In the first year of launch itself, around 2 lakh tonnes of branded SAIL's 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 import substitution. The company has also supplied 7,295 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 2019-20 with a 30 percent growth over CPLY. The company also witnessed a whopping 52 percent growth in production of 260 metres rails, a part of the UTS 90 prime rails productions, over CPLY for the Indian Railways.

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