SAIL crude steel output grows by 7% to 1.417 MT in Nov1 min read . Updated: 04 Dec 2020, 05:14 PM IST
- The company chairperson said that they have taken a number of initiatives towards increasing its sales
- During November, the company recorded sales of 1.39 MT
New Delhi: State-run SAIL on Friday said its crude steel production rose by about 7% to 1.417 million tonne (MT) during November, 2020.
The company had produced 1.328 MT crude steel in November 2019, Steel Authority of India Ltd (SAIL) said in a statement.
SAIL Chairman Anil Kumar Chaudhary said the performance during November is reflective of the continuous efforts being put in by the company to bounce back to pre-covid levels coupled with the improvement in market conditions.
SAIL, he said, has taken a number of initiatives towards increasing its sales in both domestic as well as exports markets. This has helped in bringing down the inventory levels as well as deleveraging the balance sheet to a large extent.
During November, the company recorded sales of 1.39 MT.
The company further said that "the sustained month on month improvement has ensured a growth of 2.7 per cent in cumulative sales for the period April-November FY21 despite the challenges posed by COVID19 in the initial months of the Financial Year which had seen considerable reduction in demand and build-up of inventory due to the lockdown."
SAIL, under the Ministry of Steel, is the country's largest steel maker having a total installed capacity of about 21 million tonne per annum (MTPA).
This story has been published from a wire agency feed without modifications to the text.