The global commodity super cycle of FY22 brought huge opportunities for the domestic steel sector. State-owned Steel Authority of India Ltd was no exception and was ready to “leverage the initiatives of the previous quarters and seize the opportunity”, as chairman Soma Mondal, an alumnus of National Institute of Technology, Rourkela, puts it.
After joining SAIL in January last year, Mondal has been focusing on expansion of product baskets, with plans to increase the finished and value-added steel in the company’s portfolio. The initiatives are now being reflected in the company’s numbers, both in financial and operational terms.
“During FY22, the company clocked its best-ever performance in production and sales, while achieving an all-time high revenue from operation of more than ₹1 lakh crore and EBITDA of ₹22,364 crore. We have brought in more focus on ESG parameters in our operations and set ambitious sustainability goals,” says Mondal.
Covid-19 and rising input prices of coal have been the biggest challenges, she adds. “However, in between, we had the opportunity of higher value realisation through enhanced domestic demand and export opportunities.” — Ashutosh Kumar