New Delhi: Steel Authority of India Limited (SAIL), the largest steel-making company in the country, attained a sales volume of 15.83 Lakh Tonnes in July'20 which is its best-ever performance in the month of July and impressive growth of about 50 percent over July 2019 sales which was 10.59 lakh tonnes. The company sold 12.73 lakh tonnes in the domestic market while it exported 3.10 lakh tonnes of steel during July 2020, attaining a growth of 29 percent and 349 percent respectively over the corresponding period last year (CPLY).
During these challenging times of Corona pandemic, the company has reoriented its efforts towards strategic marketing and customer-centric operations leading to improvement in its performance. The July show comes immediately after the record June sales achieved during the last month. The consequent improvement in cash collections despite lower prices compared to CPLY coupled with stringent financial measures, the Company has been able to bring down its borrowings below the psychological level of Rs 50,000 crore.
"SAIL is working very hard and putting in a synergized team efforts in all areas to improve the overall performance. The challenging times have, in fact, ignited the zeal to stand stronger and explore every single opportunity before us- Anil Kumar Chaudhary, Chairman, SAIL
SAIL's Chairman Anil Kumar Chaudhary commented, "The company is working very hard and putting in a synergized team efforts in all areas to improve the overall performance. The challenging times have, in fact, ignited the zeal to stand stronger and explore every single opportunity before us. The efforts being put in have started showing in these record sales numbers, reduced inventory, improved collections and reduced borrowings. The company is focused on reducing its borrowings further towards meeting the expectation of all our stakeholders." He also stressed on calibrating the volumes as per the market demand and said, "SAIL is in go-getter mode and ready to service the market requirement. The company has serviced the special requirements of Railways, Defence, etc. even during these challenging times and remains fully committed to doing so in future as well".
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