India: SAIL Achieves Best Ever Annual Sales in FY20 on Increased Exports

Steel Authority of India (SAIL) has achieved the best ever annual sales of 14.5 MnT with a growth of 2.8% over the corresponding period last year FY'18-19. The company also exported 1.18 MnT steel products, up 54% over CPLY.

SAIL has continued the streak of sales growth consistently, especially from the third quarter onwards where it registered 26% growth in sales in the Q3 FY'20. The company posted an increase in sales during Nov'19, Dec'19, Jan'20 by 36%, 47% and 35% respectively over CPLY.

The company has recorded 16.15 MnT crude steel output during the fiscal year FY'19-20.
Over this achievement, Shri Anil Kumar Chaudhary, Chairman, SAIL commented, "SAIL has been continuously focusing on ramping up its steel production from the new units, which came up under modernization along with optimally utilizing the older units. The concerted efforts to increase volumes have resulted in the company becoming the largest domestic steel producer in FY'20."

SAIL's other notable achievements during the year FY'20 include despatch of 12,994 numbers of WAG9 Wheels for electric locomotives, a product which is an import substitution. It has also supplied 7,295 MT of DMR plates to critical defence projects of the nation, a quantity which is also highest in the last 5 years. SAIL recorded the highest ever rail production of 12.85 lakh MT of UTS 90 prime rails in FY'20 with 30% Y-o-Y growth.

The company also witnessed a whopping 52% growth in production of 260 metres rails, a part of the UTS 90 prime rails productions, over CPLY for the Indian Railways.