Steel Authority of India Limited (SAIL) has won the Gold Trophy of the prestigious ÔÇÿSCOPE Award for Excellence and Outstanding Contributions to the Public Sector ManagementÔÇÖ for the year 2004-05. The Standing Committee of Public Enterprises (SCOPE), the apex body of public sector companies in India, bestows this award every year after evaluation of established performance criteria by a jury comprising eminent persons and assisted by the International Management Institute.
The SCOPE award for SAIL is in continuance of a number of awards including the Prime MinisterÔÇÖs Trophy for the Best Integrated Steel Plant in the country presented to SAILÔÇÖs Bhilai Steel Plant, Golden Peacock Innovation Award in the area of Research & Development, Greentech Environment Excellence Gold Award etc. during this period.
Competing in the Institutional category, SAIL emerged as winner for recording best-ever physical and financial parameters during 2004-05. After effecting the biggest turnaround in Indian corporate history in the previous year, SAIL recorded highest ever production of saleable steel, best ever product-mix and techno-economic parameters such as coke rate, energy consumption and continuous cast output.
SAILÔÇÖs efforts to consistently improve its operations paid off with the company recording an average capacity utilisation of 104% and its labour productivity rising by 5% to the level of 144 tonnes per man per year during 2004-05. In what could be termed as a step-by-step process of improvement, SAIL further raised the bar of excellence, achieving 109% of average capacity utilisation during 2005-06.
The award took cognisance of SAILÔÇÖs Corporate Plan 2011-12 which aims at retaining the companyÔÇÖs market leadership in the Indian steel industry. Recently, the company upgraded its corporate plan to include modernization of its speciality steel plants and IISCO Steel Plant (ISP).
Responding to the news of SAIL bagging the award, Mr V.S. Jain, Chairman, SAIL, commented, "The award is a testimony to SAILÔÇÖs persistent efforts to set new standards in the areas of business and earn respect of the society for its contributions to the community."
Among other key parameters that weighed in favour of SAIL was its achievement in the area of strategic product development to meet the changing needs of the market. The companyÔÇÖs efforts to develop Spring Steel, High Strength Cold Rolled steel, Steel Noise Barrier for roads and highways, special Plates for Indian Navy and IndiaÔÇÖs first indigenous aircraft carrier, High Strength Plates for ATM and 78 metre Long Rails were recognised by the jury. Today, SAIL produces 260 metre long rails at its Bhilai Steel Plant.
Some of the other key indicative criteria for the award were customer satisfaction management, corporate governance practices, HRD and employee contribution, environment management, systems and strategies, corporate social responsibility and corporate image. Earlier, SAIL had bagged the SCOPE award in the Special Turnaround category for the year 2003-04.