Indian state-run steel producer Steel Authority of India Limited (SAIL) has set a target of a 15 percent increase in steel sales in the fiscal year 2023-24 to 18.7 million mt, according to company guidance to investors on Tuesday, May 30.
In the fiscal year 2022-23, the company achieved a sales volume of 16.3 million mt, with an output of 18.3 million mt.
The company said that it has lined up capital expenditure to double steel output over the next eight years.
It said that it sees benefits of lower coking coal prices accruing from September onwards, while it foresees that its per metric ton costs for exports will increase by INR 2,500/mt ($30/mt) in the April-June quarter of the current fiscal year, largely owing to higher inventory carrying costs during the period.