The Steel Authority of India Limited (SAIL) has recorded its best-ever quarterly performance in both production and sales during Q4FY21.
Despite the volatility in the market during the year, the determined efforts by the company to improve its volumes saw it clock its best ever annual sales at 14.87 MT, a growth of 4.4 per cent over 14.23 MT during FY20, said a press release.
Soma Mondal, Chairperson, SAIL, said, “After the difficult market conditions during the initial months of the financial year, the company adopted focused approach on improving its volumes, improving operational efficiencies, operating the facilities at optimum levels, deleveraging its balance sheet and reducing its inventory levels, etc. The multi-pronged strategy has helped us top the performances during the month, quarter as well as the year.”
In line with its focus on reducing the borrowings, the company has reduced its gross debts by around Rs. 16,150 crore to stand at Rs. 35,330 crore (provisional) as on March 31,2021 vis-à-vis Rs. 51,481 crore on March 31, 2020.