Company delivered resilient performance in the face of hurdles gone by in FY22: SAIL

New Delhi, September 28, 2022: Steel Authority of India Limited (SAIL) held its 50^th Annual General Meeting, on Wednesday at Company’s headquarter at Lodhi Road, New Delhi. Soma Mondal, Chairman, SAIL addressed the shareholders in the meeting, held through a virtual platform. 

Mondal, in her address, highlighted the achievements of the Company during 2021-22 while underlining the future plan of the Company. SAIL has posted its best ever production performance by producing 18.733 million tonne (MT) of hot metal and 17.366 MT of crude Steel during FY’22. The Company entered for the first time into the elite club of Indian Companies having a turnover above Rs. 1 lakh crore. The turnover of Rs. 1.03 lakh crore during FY’22 saw an astronomical 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. 

Describing 2022 as a milestone year for the country as India completed 75 glorious years of independence, she said “it is 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.”