SAIL records turnover of over Rs 1 lakh crore

Steel Authority of India Ltd (SAIL) produced 18.733 million tonnes of hot metal and 17.366 million tonnes of crude steel during 2021-22, its best ever production performance.

During the Maharatna company's annual general meeting on Wednesday, it was informed that for the first time, it entered the elite club of Indian companies having a turnover of over Rs 1 lakh crore.

The company's turnover of Rs 1.03 lakh crore during 2021-22 saw a substantial growth of more than 50 per cent over the previous best turnover of Rs 68,452 crore, achieved during 2020-21.

The increase in turnover coupled with improved operational performance, helped the company achieve its highest-ever numbers in terms of profitability, Chairperson Soma Mondal informed shareholders during the meeting, which was held virtually.