New Delhi, 6th August 2021: Steel Authority of India Limited (SAIL) has declared the financial results for its First Quarter (April – June 2021), reflecting a robust performance in Q1 FY 2021-22.
Key Highlights of SAIL’s performance during Q1 FY 2021-22:
-
Crude Steel Production: 3.770 Million Tonnes
-
Saleable Steel Sales: 3.327 Million Tonnes
-
Revenue from Operations: ₹20,642 Crore
-
Reduction in Gross Borrowings during the Quarter: ₹5,063 Crore
Commenting on the robust performance of the company, Smt. Soma Mondal, Chairman, SAIL, said, “The Company has been consistently seizing available opportunities to move up the value chain. The performance during the quarter bears testimony to the objective-driven strategy and resilience of the SAIL Collective despite the adverse impact of the dominant second wave of COVID-19. Though the demand for steel products in the quarter has not had the same momentum as during Q4 of FY’21, focused interventions in several areas of operations have helped in achieving this robust performance. The demand in the later part of the year is expected to remain healthy, with sustained domestic consumption coming from sectors like infrastructure, manufacturing, packaging, automotive, etc., as indicated by the present consumption cycle and future sectoral trends.
Date:06.08.2021