Chairman of SAIL addressed at the 48th Annual General Meeting PSU NEWS

 

The Chairman SAIL, Shri Anil Kumar Chaudhary Addressed at the 48th Annual General Meeting of SAIL. The meeting was held through video conferencing

Chairman of SAIL addressed at the 48th Annual General Meeting
SAIL AGM attended by Chairman SAIL, Shri Anil Kumar Chaudhary, Director (Commercial) Smt. Soma Mondal and Company Secretary Shri M B Balakrishnan

 

New Delhi: The Chairman SAIL, Shri Anil Kumar Chaudhary Addressed at the 48th Annual General Meeting of SAIL. The meeting was held through video conferencing and attended by the Director (Commercial) Smt. Soma Mondal and Company Secretary Shri M B Balakrishnan. 

 

Addressing the shareholders of Steel Authority of India Ltd. (SAIL) on Company’s 48th Annual General Meeting held here today, Shri Anil Kumar Chaudhary, Chairman, SAIL mentioned that we all are aware that COVID-19 Pandemic has impacted SAIL just as it has impacted every corporate across the country. He also highlighted how SAIL has activated a scaled response for management of COVID-19 outbreak at Plants/Units and Townships.
 
While fighting with the COVID-19 Pandemic on one hand, the Company ensured that the production continued in the Company in line with the market demand while making use of the time available to carry out planned repairs by preponing them from the original schedule.
 
He said that the financial year 2019-20 has been the year of sustaining profitability. Despite challenging market conditions which saw the average Net Sales Realisation (NSR) decline by 12% over the previous year, the determined efforts and strategic initiatives taken by SAIL saw the EBITDA in FY’20 rise by 9% to Rs. 11,199 crore, as against Rs. 10,283 Crore in FY’19. However, due to higher depreciation and finance cost, the Profit after Tax (PAT) on standalone basis came down to Rs. 2,022 crore in FY’20 as against Rs. 2178 crore in the previous year FY’19. On a consolidated basis, the Profit after Tax stood at Rs. 2,121 crore for FY’20 as against Rs. 2348 crore in FY’19.
 
The Company’s improvement in financial performance was based upon the improvement in operational areas. Some of the highlights were:
 
Highest producer of crude steel in the Country by producing 16.155 MT
 
Best ever Saleable Steel production as well as sales volumes at 15.083 MT and 14.231 MT respectively
 
Rails crossed the 1 Million Tonne mark for the first time. The production at 12.85 lakh tonne, the best ever, showed a growth of 30% over previous year
 
Company became the largest miner for steel making input minerals in the Country by mining 32.41 MT of total minerals.
 
With quantum jump, SAIL achieved its highest ever exports at 1.18 MT during the FY 2019-20 with substantial growth of over 54% over the previous year.
 
SAIL has proudly associated itself with India’s economic and industrial progress and development by contributing to important and strategic sectors like Defence, Railways, Metro, Infrastructure, Space, Power, Manufacturing, Irrigation, etc. through effecting supplies to prestigious projects such as Indian’s first and the biggest indigenous artillery gun “Dhanush”, Chandrayaan-2, Mangalyaan, Jiribam-Tupul-Imphal Broad Gauge Railway Project, Manipur (World’s tallest girder Railway bridge), AnjiKhad Cable Stayed Bridge Project, J&K, Chardham Mahamarg Vikas Pariyojna, Rawatbhata and Kakrapara Atomic Power Plant, other Power Projects like Neyvile Lignite Power Plant at Ghatampur in UP, NTPC Patratu Power Plant in Jharkhand, Chausa Thermal Power Plant in Bihar, Yadadari Power Plant in Telengana and Ennore Power Plant in Tamil Naidu, Western Dedicated Freight Corridor, etc. The latest feather in its cap has been the supply of majority of steel for the strategically important “Atal Tunnel”.
 
Shri Chaudhary highlighted that SAIL has always been a part of the Government led initiatives like Swachh Bharat Abhiyaan, Prime Minister Jan ArogayaYojana (PMJAY), Prime Minister Awas Yojana (PMAY), Skill India, Ban on Single Use Plastic, Mission Purvodaya, etc. He also emphasized SAIL’s concern for the environment with planting of more than 4.44 lakh saplings during the FY 2019-20, taking the cumulative plantation by SAIL to 21.04 million since inception.
 
In the wake of severe impact on economy of the Country during the COVID-19 Pandemic, SAIL has been the frontrunner in taking forward the initiative of making India prosper through self-reliance viz., ‘Atmanirbhar Bharat’ and ‘Vocal for Local’.
 
He further added that, “During FY19 SAIL produced new grades of steel like Superior Performance rails namely R-260 grade and wheels for high speed LHB coaches for Indian Railways; Special quality steel complying to the requirement of Country’s Defence Forces for use in armour plates, gun carriage, ammunition testing and bullet proof applications; API X-70 steel grade for pipe in Oil and Gas Sector; and High tensile, fire resistant, weather resistant structural steel and seismic grade TMT Bars for Construction & Infrastructure Sector”.


Posted Date :  22-10-20

Categories : PSU NEWS

Tag Cloud: PSU NEWS

Similar news

AAI another step towards cleanliness and sanitation

Goa: Another exemplary step taken by Airport authority of India (AAI) to raise the bars of cleanliness & sanitation for passengers!   AAI's Goa Airport has renovated the washroom blocks in the check-in area. Shri Nilesh Cabral, Hon Minister for Environment, Power & Law in
Posted Date :  28-11-20

Read more

IREDA would continue its fundraising and creation for AIF and ABS

New Delhi: IREDA would continue its efforts in raising funds from other sources and work towards the creation of Alternate Investment Fund (AIF) & Asset-Backed Securities (ABS)” said Shri Chintan Shah, Director (Technical) in a session on “Wind Power in India: The Decade Ahead&rdq
Posted Date :  28-11-20

Read more

SAIL active role and contribution in a hard time of Corona

New Delhi: Steel Authority of India Limited playing an important role in a hard time of Covid epidemic to tackle it, SAIL Guides the Effective Methods towards prevention from Corona.   SAIL said in a release today that it has so far treated more than 5,000 Corona patients through the
Posted Date :  28-11-20

Read more

NCL celebrates its 36th Foundation Day

Singrauli: On the 36th foundation day of Northern Coalfields Limited (NCL), the CMD of NCL pens down some word and extends the warm greeting to the NCL family and all the stakeholders of the company and all the NCL miners, physicians, paramedical staff, sweepers, and corona control in this d
Posted Date :  28-11-20

Read more

Shri Dharmendra Pradhan laid the foundation of the CBG plant

Karnataka: Shri Dharmendra Pradhan Minister of Petroleum & Natural Gas and Steel laid the foundation stone of Leafiniti Bioenergy’s press mud-based compressed bio-gas plant at Jamkhandi in Karnataka through video conference. The plant will produce CBG from sugarcane press-mud a
Posted Date :  27-11-20

Read more

ECIL Observes Constitution Day

Hyderabad: Electronics Corporation of India Limited (ECIL) observed the “Constitution Day” in its factory and zonal offices to commemorate the adoption of the Constitution of India and to honour and acknowledge the contribution of Founding Fathers of the Constitution. As part of the &
Posted Date :  26-11-20

Read more

DMRC again suspended its metro services en routing NCR to Delhi

New Delhi: On Thursday the DMRC (Delhi Metro Rail Corporation) states that the metro services will be kept suspended till further orders. The services are halted from NCR (National Capital Region) to Delhi.    Delhi Metro Rail Corporation issued the statement in which it men
Posted Date :  26-11-20

Read more

Employees of MCL today celebrated 71st Constitution Day

Sambalpur: As part of celebrations, with restricted physical presence due to COVID19 pandemic, Shri O.P.Singh, Director(Technical/Operation), read out the preamble with employees at company headquarters.   Director Finance Mr. KR Vasudevan, Director Personnel Mr. Keshav Rao and Dire
Posted Date :  26-11-20

Read more

BHEL observes 71st Constitution Day

New Delhi: The 71st Constitution Day of India is observed by BHEL, Dr. Nalin Shinghal, CMD, BHEL administered the Constitution Day Pledge (Preamble) to all employees.    Bharat Heavy Electricals (BHEL) is an integrated power plant equipment manufacturer and one of the largest en
Posted Date :  26-11-20

Read more

NHPC observes Samvidhan Diwas

Faridabad: NHPC Limited, India’s premier hydropower company celebrated ‘Samvidhan Diwas’ across all itsregional offices, power stations, projects and units on 26th November 2020 to commemorate the adoption of the Constitution of India. The celebrations at NHPC Corporate Office,
Posted Date :  26-11-20

Read more