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SAIL conducted 52nd Annual General Meeting

Published: Sep 27, 2024

By TIOLCorplaws News Service

NEW DELHI, SEP 26, 2024: STEEL Authority of India Limited (SAIL) conducted its 52 nd Annual General Meeting (AGM), today at Company's headquarters at Lodi Road, New Delhi. Amarendu Prakash, Chairman, SAIL addressed the shareholders in the meeting, held through a virtual platform.

While addressing the Company's shareholders, he said, "Reflecting on the performance of the previous year ad looking forward in the future reinforces my belief that as an organisation, we can aspire to be 'Number One', i.e the best in our industry". He added that the Indian Government's continuous push to transform the social, digital and physical infrastructure of the country with a vision of Viksit Bharat by 2047 has fueled steel demand in the Country across all sectors.

He summarized the performance of SAIL during FY 23-24 and said that SAIL created new benchmarks by producing 20.5 Million Tonnes (MT), 19.24 MT and 18.44 MT of Hot Metal, Crude Steel and Saleable Steel respectively during FY'24, registering growth of 5.6%, 5.2% and 6.9% respectively over the previous year. He mentioned that the Company achieved the best Sales Turnover of Rs 1,04,545 Crore during FY'24.

He added that SAIL is on track to excel in two focus areas which are to maximise capacity utilisation and provide best value to customers. He said, "SAIL would continue to engage with stakeholders, improve the asset utilization and proactively be ahead of the curve".

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