SAIL Records Best Quarterly Sales During January to March 2021
- Indian Masterminds Bureau
- Published on 3 Apr 2021, 10:16 am IST
- 1 minute read
Highlights
Despite the volatility in the market during the year, the Maharatna PSU-SAIL clocked its ‘best ever’ quarterly performance in both production and sales.
- PC: Twitter/@SAILsteel
Steel Authority of India Limited (SAIL), the Maharatna PSU. has recorded its best ever quarterly performance in both production and sales during 04 FY21.
Despite the volatility in the market during the year, the determined efforts by the Company improve its volumes wit clock its best ever annual sales at 147 MT, a growth of 44% over 14.23 MT during FY 20.
Commenting on the performance, Sm. Soma Mondal, Chairman, SAIL said, “Añer the difficult market conditions during the initial months of the financial year, the Company adopted focussed approach on improving its volumes, improving operational efficiencies, operating the facilities at optimum levels, deleveraging s balance sheet, reducing its inventory levels, etc. The multi-pronged strategy has helped us to the performances during the month quarters wel the year. The tam effort by the SAIL employees helped in sending the opportunity offered by the pick-up in the economic activities in the country especially the intensive sectors like infrastructure, construction tenobiles, etc.”Related Stories
In line with its focus on reducing the borrowings, the company has reduced its gross debts by around Rs. 16150 crore to stand at Rs. 35330 crore (provisional) on 31 March 2021 – vis Rs. 51481 crore as on 31 March 2020
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