Steel Authority of India Limited (SAIL) held its 50th Annual General Meeting, today at Company’s headquarter in New Delhi. Smt. Soma Mondal, Chairman, SAIL addressed the shareholders in the meeting, held through a virtual platform.
In her address Smt. Mondal highlighted the achievements of the Company during fiscal 2021-22 underlined the future action plan of the Company. SAIL has posted the best ever production performance by producing 18.733 million tonne (MT) of hot metal and 17.366 MT of crude Steel during FY’22. For the first time the Company entered into the elite club of Indian Companies having a turnover above rupees one lakh crore. The turnover of Rs. 1.03 lakh crore during FY’22 saw substantial growth of more than 50% over the previous best of Rs.68452 crore achieved during FY’21. The increase in turnover coupled with improved operational performance helped the Company achieve its highest ever numbers in terms of profitability.
Smt Mondal described the year 2022 as a milestone year for the country as India completed 75 glorious years of independence and denoted it as an extraordinary milestone in the journey of modern India which assumes further significance in the light of India’s preparedness to gravitate forward into India 2.0. SAIL is prepared to contribute to this growth story of India by capitalizing on the intrinsic strength and resources at disposal , the Chairman added.
Smt Mondal highlighted SAIL’s role as a conscientious ethical corporate and stated that the focus is on meeting the ESG goals. In times to come, SAIL would be making many more interventions to curtail carbon emission to meet global standards. With due emphasis on sustainability, the Company is continuously improving upon its processes, product basket, policies while building an ambitious roadmap for the future, the Chairman further stated.