Steel Authority of India Limited (SAIL) has set up a target of 17 million tonnes of production sales in this current fiscal year. The respective firm is a state-owned steelmaking conglomerate which has a futuristic approach to outreach defence as well as aerospace sectors. The company also tends to maximise its retail sale by 15% in its Northern and Eastern region by expanding an operational business. Currently, the respective areas generated total revenue of 70% out of total sales.
Maharashtra-based conglomerate produced 8.33 million tonnes of Steel in its first nine months target in FY 2015-16 whereas previously the production reached 11.71 million tonnes in 2014-15 FY. One of the officials stated that the company has already set targets so as to achieve it in every plausible manner. It has geared up with the increase in retail sale by 15% for sales of Steel through major regions of the country.
According to higher authoritative body of SAIL, It (SAIL) has recently charted a set of goals for the company under new chairman and managing director P.K. Singh. This includes increasing sales to 17 MT in 2016-17 and subsequently 20 MT in 2017-18.
Eyeing on new sectors the probability of an increase in sales will be doubled. SAIL will be focusing towards Defence, Aerospace and Nuclear Power sector. Apart from immersing itself in hardcore segments, it will surge to create better customer relation by giving better services as well as strengthening base through increased potential. It will help in making sustained customers thus, having prior interactions.
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The Maharashtra government-owned Steel giants have spent 4, 483 crores INR for expenditure in sectors such as enriching product mix, developing mines, pollution control, energy saving methods, meeting higher requirements for the primary inputs, and nonetheless customer centric proceedings.
Apart from such determinations regarding B2C relations, increased production through focused regions, naive plannings, and so on SAIL has also marked an achievement of generating revenue 6,000 crores INR in the current financial year in varied innovative areas of modernisation and expansion projects. Further, it has taken initiatives programmes in Research and Development (R&D) segment in the context of the state-owned conglomerate.
Listed in National Stock Exchange (NSE), the prices plunged by 1.39% closing at Rs. 39.05 per share. It started on well in Rs. 39.95 today on Monday but soon declined by .55 hence giving a niche close to its competitors.