SAIL Crude Steel Output Rises 8% in Q1; Sales up 24%

SEATTLE (Scrap Monster): Steel Authority of India (SAIL) reported an 8% year-on-year growth in its crude steel production at 4.667 million tonne (MT) during the first quarter of FY24, the ministry of steel said in a statement.

“Steel Authority of India Limited (SAIL) has achieved record-breaking performance in the first quarter of the financial year 2023-24 (Q1 FY24) in terms of production and sales,” the ministry said.

The production of hot metal, crude steel, and saleable steel of 5.037 million tonne (MT), 4.667 MT, and 4.405 MT, respectively, marked the best ever first quarter results.

These figures represent a remarkable growth of 7%, 8%, and 8% respectively in comparison to the previous best, it added.

SAIL also attained its highest-ever sales performance in the first quarter by achieving a sales volume of 3.9 MT, thereby marking a growth of around 24% over the CPLY.

“This record breaking performance by SAIL has come up in the light of its continued focus on maximizing capacity utilization and meeting the customer demands,” the ministry said.

Steel Authority of India Ltd (SAIL), under the Ministry of Steel, is among the top three steel producing companies in India having an annual capacity of around 20 MT.

Courtesy: www.livemint.com