|
The Government today reviewed performances of Steel Authority of India Ltd. for the current financial year up to December 04 and outlined the need to complete ongoing Projects in time, make buffer stock of coking coal, develop proper marketing mechanism to promote sales and plan for increased production. The meeting was chaired by the Steel Secretary, Dr. Mano Ranjan. Shri V.S. Jain, Chairman, SAIL was present in the meeting. `
During April-December. 04, the company’s financial performance improved significantly with SAIL breaking all previous records in the first 9 months of the current financial year.
*` The thrust on production of value-added items in April-Dec led to volume increase over corresponding period last year (CPLY).
· Plates by 18%
· Wheels & Axles by 39%
· Heavy Structurals by 40%
· Bars & Rounds by 4%
· Rails by 5%
· Production of semis was reduced by 27% in Apr. – Dec 2004-05 over corresponding period last year; hence the increase in finished steel production (Total finished steel production increased to 84% against 79% during April-Dec. 03.
· Production of saleable steel soared by 17% in 2nd Quarter 04 over 1st Quarter 04 and in 3rd Quarter 04 by 8% over 2nd Quarter 04.
· Production through the energy efficient concast route improved by 4% over CPLY to a level of 64% of the total crude steel produced.
· The coke rate reduced by 1% to a level of 536 kg/thm.
· Energy consumption came down from 7.48 Gcal/tcs to 7.35 Gcal/tcs during April – December 04 as against the same period last year.
· SAIL’s net profit of Rs. 4139 crore during April-Dec 04 has shown a whopping increase of 176% over CPLY.
· States turnover increased by 27% over CPLY to a record level of Rs. 21558 crore, mainly contributed by increase in saleable steel net sales realization and better product-mix.
· SAIL Board has approved a number of projects envisaged under its corporate plan involving a total investment of over Rs. 675 crores in FY 2004-05.
· As per MOU 2004-05, nine milestones have been planned for completion during the year. Six milestones were scheduled for completion up to Dec. 04 and all the six milestones have been completed by Dec. 04.
BJ/NSR
|
