SAIL enters Rs1 lakh crore turnover club with highest ever steel production
03 Oct 2022
Steel Authority of India Limited (SAIL) has posted best ever performance with production of 18.733 million tonnes of hot metal and 17.37 million tones of crude steel during the 2021-22 financial yerl. With this, the company also entered the elite club of Indian companies having turnover in excess of Rs1 lakh crore.
The turnover of Rs1.03 lakh crore during FY’22 is a substantial growth of more than 50 per cent over the previous best of Rs68452 crore achieved during FY’21. The increase in turnover coupled with improved operational performance helped the company achieve its highest ever numbers in terms of profitability.
Addressing the 50th annual general meeting of SAIL in New Delhi on Wednesday, Soma Mondal, chairman, SAIL, highlighted the achievements of the company during fiscal 2021-22 and also underlined future plans of the company.
Mondal described the year 2022 as a milestone year for the country as India completed 75 glorious years of independence and denoted. It assumes further significance in the light of India’s preparedness to gravitate forward into the new era. SAIL is prepared to contribute to this growth story of India by capitalising on the intrinsic strength and resources at disposal, the chairman added.
Mondal highlighted SAIL’s role as a conscientious ethical corporate and said the focus is on meeting the ESG goals. In times to come, SAIL would be making many more interventions to curtail carbon emission to meet global standards. With due emphasis on sustainability, the company is continuously improving upon its processes, product basket, policies while building an ambitious roadmap for the future, the chairman further stated.