New Delhi: Steel Authority of India Limited (SAIL) conducted its 52nd Annual General Meeting (AGM) today at its headquarters on Lodi Road, New Delhi. The meeting, held virtually, was addressed by Amarendu Prakash, Chairman of SAIL, who shared the company’s performance highlights and future outlook with shareholders.
Reflecting on the company’s performance, Prakash expressed his confidence in SAIL’s potential to become the “Number One” steel producer in the industry. He credited the Indian Government’s push for infrastructure development, under its Viksit Bharat by 2047 vision, for driving steel demand across various sectors, positioning SAIL to meet growing needs.
Record Performance in FY 2023-24
The Chairman highlighted SAIL’s impressive production achievements during the FY 2023-24, setting new benchmarks across key metrics:
- Hot Metal Production: 20.5 Million Tonnes (MT)
- Crude Steel Production: 19.24 MT
- Saleable Steel Production: 18.44 MT
These figures represented growth of 5.6%, 5.2%, and 6.9% respectively over the previous year. Additionally, the company achieved its highest-ever sales turnover of ₹1,04,545 crore during FY 2023-24, reflecting robust demand and strategic growth initiatives.
Focus Areas: Capacity Utilization and Customer Value
Prakash reiterated SAIL’s focus on two key priorities: maximizing capacity utilization and delivering best value to customers. He stressed that the company is committed to engaging with stakeholders, improving asset utilization, and staying ahead of industry trends.
“SAIL will continue to engage with stakeholders, improve asset utilization, and proactively stay ahead of the curve,” the Chairman said, underlining the company’s commitment to maintaining its growth momentum in the years ahead.