SAIL’s steel sales rise in FY 2020-21 despite volatility in market

Friday, 02 April 2021 11:53:32 (GMT+3)   |   Istanbul

Indian state-run steelmaker Steel Authority of India Limited (SAIL) has announced that it recorded its best-ever quarterly performance in both production and sales during the fourth quarter of the financial year 2020-21 ending March 31. In the given quarter, the company’s crude steel production totaled 4.55 million mt, up by six percent year on year and rising by four percent compared to the previous quarter. In the fourth quarter, SAIL’s sales amounted to 4.27 million mt, increasing by 14 percent year on year and up by three percent quarter on quarter.

Despite the volatility in the market during the given financial year, the company recorded its best-ever annual sales of 14.87 million mt, up by 4.4 percent compared to 14.23 million mt in the previous financial year.

“After the difficult market conditions during the initial months of the financial year, the company adopted a focused approach on improving its volumes, improving operational efficiencies, operating the facilities at optimum levels, and reducing its inventory levels,” Soma Mondal, chairman of SAIL, stated, commenting on the company’s performance.

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