SAIL’s total sales increases by half

State-owned SAIL‘s total sales grew by about 50 percent on year to 15.83 lakh tonnes (LT) during July 2020. The company had registered sale of 10.59 LT steel during the same month last year, Steel Authority of India Ltd (SAIL) said in a statement.

The company sold 12.73 LT steel in the domestic market and exported 3.10 LT steel in July, a growth of 29 percent and 349 percent, respectively, over the year-ago month.

“SAIL attained a sales volume of 15.83 LT in July 2020 which is its best ever performance in the month of July and an impressive growth of about 50 per cent over July 2019 sales which was 10.59 LT,” statement said.

“SAIL is working hard to improve the overall performance. The efforts being put in have started showing in these record sales numbers, reduced inventory, improved collections and reduced borrowings,” the company’s chairman Anil Kumar Chaudhary said. “SAIL is focused on reducing its borrowings further towards meeting the expectation of all our stakeholders,” he added.

(Indian PSU: All about Indian Public Sector Undertakings. Follow @IndianPSUs for all the News & Views on PSUs, Corporates, Markets, Bureaucracy, Public Policy)

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