Steel Authority of India Limited (SAIL) held its 52nd Annual General Meeting (AGM), presided over by Chairman Amarendu Prakash. The AGM was conducted virtually from the company’s headquarters at Lodi Road, New Delhi. In his address to shareholders, Prakash emphasised SAIL’s commitment to maintaining its leadership in the steel industry, while reflecting on the company’s strong performance in the previous fiscal year.
“Our vision as an organisation is to strive to be ‘Number One’ – the best in our industry,” Prakash remarked, adding that the Indian Government’s push towards transforming social, digital, and physical infrastructure, under the vision of Viksit Bharat by 2047, has significantly increased steel demand across all sectors.
Prakash highlighted SAIL’s performance during the financial year 2023-24, stating that the company set new records by producing 20.5 million tonnes (MT) of Hot Metal, 19.24 MT of Crude Steel, and 18.44 MT of Saleable Steel. These figures represent a growth of 5.6%, 5.2%, and 6.9%, respectively, compared to the previous year. SAIL also achieved its highest-ever sales turnover, recording ₹1,04,545 crore for FY 2023-24.
Focusing on the future, Prakash outlined SAIL’s two key objectives: maximising capacity utilisation and delivering the best value to its customers. “SAIL will continue to engage with stakeholders, improve asset utilisation, and proactively stay ahead of the curve,” he added.
SAIL’s performance and the strategic direction shared by the Chairman reaffirm the company’s role in supporting India’s infrastructure growth and its aspiration to be a leader in the global steel industry.
