Steel Authority of India Limited (SAIL) posted the best ever production performance of 18.733 million tons hot metal and 17.37 million tons crude steel during the financial year 2021-22 and the company's turnover crossed Rs 1 lakh crore for the first time.
For the first time, the company entered into the elite club of Indian companies having a turnover above Rs one lakh crore. The turnover of Rs 1.03 lakh crore during FY22 saw substantial growth of more than 50 per cent over the previous best of Rs 68452 crore achieved during FY21, the Ministry of Steel said on Wednesday. The increase in turnover coupled with improved operational performance helped the Company achieve its highest ever numbers in terms of profitability, the ministry said.
Steel Authority of India Limited (SAIL) held its 50th Annual General Meeting, on Wednesday at Company's headquarters in New Delhi. Soma Mondal, Chairman, SAIL addressed the shareholders in the meeting, held through a virtual platform.
Mondal described the year 2022 as a milestone year for the country as India completed 75 glorious years of independence and denoted it as an extraordinary milestone in the journey of modern India which assumes further significance in the light of India's preparedness to gravitate forward into India 2.0.
SAIL is prepared to contribute to this growth story of India by capitalising on the intrinsic strength and resources at its disposal, the Chairman added.
Mondal highlighted SAIL's role as a conscientious ethical corporate and stated that 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, Mondal added.