Shashank Shekhar
Bokaro ( Jharkhand) : Steel Authority of India Limited (SAIL) reported a growth of 7% in its crude steel production in November 2020 (1.417 MT) over CPLY (1.328 MT). The production at its 5 Integrated Steel Plants (ISPs) was 1.402 Million Tonnes (MT) in November 2020 as against 1.303 MT in November 2019.
On the sales front too, the Company continued with its strong performance from previous months recording sale of 1.39 MT during November 2020. The sustained month on month improvement has ensured a growth of 2.7% in cumulative sales for April-November 2020 period the challenges posed by COVID19 notwithstanding in the initial months of the Financial Year which had seen considerable reduction in demand and build-up of inventory due to the lockdown.
According to a PIB release, commenting on Sail’s performance, Anil Kumar Chaudhary, Chairman, SAIL, said, “The performance during November 2020 is reflective of the continuous efforts being put in by the SAIL Collective to bounce back to pre-COVID levels coupled with the improvement in market conditions. With the focus on seizing the opportunity provided by the current buoyancy in the market, SAIL has taken a number of initiatives towards increasing its sales in both domestic as well as exports market. This has helped the Company in bringing down the inventory levels as well as deleveraging its balance sheet to a large extent.” He also said that the Company is confident of further consolidating its position in the market in the times to come.