Kolkata, April 2: Steel Authority of India Ltd (SAIL) on Monday reported higher sales and its highest-ever production of saleable steel. During fiscal 2000-01, the government-owned steel major produced 9.68 million tonne (mt) of saleable steel and sold 8.47 mt in the domestic market, both an increase of 2 per cent on the figures for the previous year. It sold 0.475 mt in the international market during the year.According to a SAIL release, total sales of steel rose to 1.3 mt in March 2001, against the previous "best performance" recorded in March 1999. The March 2001 sales consisted of 1.25 mt sold in the home market and exports of 45,000 tonne.
SAIL also reported a significant increase in sales of wire rods, structurals, plates, hot rolled coils, GP/GC, pipes and railway materials. Overall inventory declined by 0.35 mt during the month, with stocks standing at 0.5 mt on March 31, 2001, at plants and stockyards.
SAIL shipped 0.475 mt of various steel products valued at around Rs 500 crore. After a gap of more than two decades, SAIL resumed export of rails with 7,250 tonne despatched to Bangladesh. Exports to neighbouring markets like the Saarc countries touched 136,000 tonne, an increase of 13 per cent over the previous year.
SAIL maintained its thrust on cost reduction, deriving a total savings of Rs 525 crore from improved techno-economics, and reduction in administrative costs. Ever since it adopted the cost reduction mantra in 1997-98, SAIL has saved nearly Rs 3,000 crore.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
