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SAIL registers 8 percent growth in crude steel manufacturing in FY19

Apr 5,2019

Steel Authority of India Limited (SAIL) registers a growth of 8% over the previous year by producing 16.3 million tonnes crude steel in FY19 and clocking the best ever saleable steel manufacturing during the year. This was matched by SAIL’s highest ever total steel despatch at 14.86 million tonnes during FY’19 due to a dedicated logistics set-up created by it recently. In line with its improved performance, the company managed to improve its turnover by 16% to Rs 66,100 crore, an official statement said.

 

SAIL reported a growth of 8%, 10%, 14% and 13% in respect of manufacturing of Crude Steel, Hot Metal, Saleable Steel, and Sales respectively in the fourth quarter of FY19. The country’s largest public sector steel producer said manufacturing from new mills of its steel plants recorded marked improvement in FY’19, resulting in an enriched product basket. During the year, it posted the highest ever manufacturing of 9.85 lakh tonnes of UTS 90 Rail (ultimate tensile strength of 880 MPa or 90 Kg/ Sq mm). The manufacturing of rails gained momentum in the second half of FY19, with 5.66 lakh tonnes of rails being produced, up 35% over the first half.

 

SAIL chairman Anil Kumar Chaudhary said FY19 was marked by the company’s turnaround in various parameters like manufacturing, techno-economics, cost of manufacturing, higher manufacturing of value-added products apart from a ramp-up in manufacturing from new mills and sales. The challenge for FY20 is much higher, he added, with a plan of a 21% increase in manufacturing crude steel and similar growth in sales.