SAIL posts over 31 pc growth in sales in Q2

The Steel Authority of India Limited (SAIL) registered an impressive 31.3 per cent growth in sales during the second quarter (Q2) of FY2020-21 over Q2 FY2019-20 (July-September).

Post the COVID-19 related lockdown, the company has been witnessing an impressive sales performance which started in June.  This has led to the company’s H1 sales of FY 2020-21 bounce back to the levels achieved during CPLY.

During the Q2 of FY2020-21, the saleable steel production also registered a growth of 5.2 per cent over CPLY. The company’s strategic marketing efforts and customer-centric initiatives coupled with teamwork across the company has contributed to this improvement in sales and production, said a press release by SAIL.

Anil Kumar Chaudhary, Chairman, SAIL, commented: “The challenges during COVID-19 not only gave us an opportunity to test our resolve in the face of odds but also made us more determined to perform better. Our focused strategies coupled with zeal of the marketing team helped to leverage every single opportunity in the market. Also, the pick-up in the economic activities across sectors is enhancing the domestic steel demand. It is heartening that the company has returned to previous year’s sales level and is now focusing on ramping up production and sales further.”