Steel Authority of India Limited achieved the best ever quarterly production of hot metal, crude steel & saleable steel during October-December 2020 quarter. SAIL’s production of hot metal, crude steel & saleable steel during the quarter increased to 4.8 million tonne, 4.4 million tonne & 4.2 million tonne, up 12%, 9% & 6% YoY respectively. As a result, SAIL’s production of hot metal, crude steel & saleable steel during the April-December 2020 increased to 11.6 million tonne, 10.6 million tonne & 10.22 million tonne, up 2.7%, 2.5% & 2.3% YoY respectively. SAIL Chairperson Ms Soma Mondal said “During this financial year, the company has continuously enhanced its production volumes. The first quarter was impacted due to the onset of the pandemic but gradually we have scaled up our performance by enhancing the volumes. It is heartening that the pre Covid levels have already been reached.”
The sales volume of the company has also registered a growth in October-December 2020 quarter. The total sales in the quarter, including domestic and exports, grew by 5.6% YoY to 4.1 million tonne, with domestic sales accounting for 3.7 million tonnes and exports 0.36 million tonnes. SAIL’s total sales in April-December 2020 also increased marginally to 10.8 million tonnes, domestic sales accounting for 9.3 million tonnes and exports 1.5 million tonnes
SAIL has significantly reduced the net debt from a peak of INR 52290 crores on 30th April 2020 to INR 44308 crores on 31st December 2020, a reduction of INR 7982 crores.