PUBLIC sector steel major Steel Authority of India Limited (SAIL) sold 1.14 million tonne of steel in January. The figure is 10 percent more than its January figure last year. During April-January, SAIL’s sales grew eight percent year-on-year to 9.84 million tonne backed by surge of 47 percent...in its exports. Whereas the sales of flat steel grew by 23.5 percent compared to the like period last year, most products in the company's product basket also witnessed a sizable growth, the company said in a release today.
"The uptrend in the first month of 2014 is a firm indicator of the times to come. We are confident of maintaining the momentum in sales growth, which will be supported by production of better and wider range of products like universal beam, wire rods and wider plates from the new state-of-the-art facilities coming up in phases," chairman CS Verma said. In the flat steel segment, sales growth during Apr-Jan was up 10.6 percent from corresponding period last year.
SAIL’s units kept pace with aggressive sales strategy of the company and increased production of salable steel by four percent in Apr-Jan to 10.74 million tonne.SAIL is India's largest steel producing company. With a turnover of Rs. 49,350 crore, the company is among the seven Maharatnas. SAIL has five integrated steel plants, three special plants, and one subsidiary in different parts of the country. SAIL manufactures and sells a broad range of steel products, including hot and cold rolled sheets and coils, galvanised sheets, electrical sheets, structurals, railway products, plates, bars and rods, stainless steel and other alloy steels.