New Delhi: Steel Authority of India Limited (SAIL) convened its 52nd Annual General Meeting (AGM) today through a virtual platform, where Chairman Amarendu Prakash articulated the company’s vision for future growth and highlighted recent successes.
In his address to shareholders, Prakash expressed optimism about SAIL’s trajectory, stating, “Reflecting on last year’s performance and future prospects reinforces my belief that we can aspire to be the leading entity in our industry.”
He emphasized the vital impact of the Indian government’s infrastructure initiatives under the “Developed India by 2047” vision, which has spurred steel demand across multiple sectors.
For the fiscal year 2023-24, SAIL reported remarkable achievements, including record production levels: 20.5 million tonnes of hot metal, 19.24 million tonnes of crude steel, and 18.44 million tonnes of saleable steel—representing increases of 5.6%, 5.2%, and 6.9% respectively from the previous year. The company also celebrated its highest-ever sales turnover, reaching Rs 1,04,545 crore.
Prakash reiterated SAIL’s commitment to maximizing capacity utilization and delivering exceptional value to customers. He affirmed, “SAIL will continue to engage with stakeholders, enhance asset utilization, and actively pursue a leadership role in the industry.”
The AGM highlighted SAIL’s dedication to excellence and its proactive approach in addressing the evolving demands of the steel market.
