The country's largest steel maker SAIL posted a 7 per cent rise in sales at 5.5 million tonnes in the first five months of the ongoing fiscal, helped by production ramp-up.

"Steel Authority of India LtdBSE -0.36 % (SAIL) witnessed a growth of 7 per cent in total sales during the April-August 2017 period over the corresponding period last year," according to a company spokesperson.

The sales growth was on account of ramping up of output, aggressive marketing and sale of new products, he said.

"During this period, domestic sales showed improvement in both long and flat products enabling SAIL to increase its market share to 14.6 per cent from 13.4 per cent," the spokesperson added.

As was as sales of galvanised products, PM plates, CR coils/sheets and heavy structurals from the new mills of the company is concerned there was significant improvement.

SAIL, he said, also had the best ever cash collections last month.

SAIL Chairman P K Singh said the steel major is gearing up to encash the conducive environment for demand as envisaged in the progressive policies of the government for the Indian economy, especially the infrastructure sector.

The PSU had recorded an 8 per cent growth in total sales at 13.14 MT in FY 2016-17.

The company had also recorded the best ever total sales figure for March 2017 at 1.575 MT, a rise of 21 per cent over the year ago.

On the production front, the company had recorded a growth of 12 per cent in saleable steel production for 2016-17 over the preceding fiscal.

 

Source:economictimes.indiatimes.com

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