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SAIL commissions record Rs5,500-cr projects in FY13

SAIL commissions record Rs5,500-cr projects in FY13
State-owned steel-making company SAIL’s relentless drive to fast-track its modernisation & expansion  plan (MEP), resulted in commissioning of projects worth Rs 5,500 crores in fiscal year 2012-13. The company’s capital expenditure during FY13 was Rs 9,731 crore. Under the MEP, cumulative orders worth Rs 58,225 crore were placed and an expenditure of Rs 44,536 crore incurred until April 2013.

In FY13, projects which were commissioned included  New Sinter Plant no. 3 at RSP, 700 TPD Air Separation Unit-4 Oxygen Plant-II at BSP, Skin Pass Mill at BSL, Raw Material Handling Plant at ISP, Sinter Plant at ISP, Coke oven Battery No.11 at ISP, Burnpur, Coke Dry Cooling Plant at ISP, By-product Plant at ISP, Wire Rod Mill & RHF at ISP.  Projects worth Rs 2,175 crore have already been commissioned in April 2013.

The audited financial results for the year 2012-13 were announced by company's Board of Directors on Wednesday. Beating the slowdown in the sector, the company recorded a PAT of Rs 446 crore in Q4 of FY13 . The sharp decline in NSR of 11% per ton of steel in Q4 of  FY13 adversely affected the profitability of SAIL, with negative impact of Rs 1,347 crores on account of this factor alone.

For the financial year 2012-13, the company recorded profit before tax (PBT) of Rs 3,241 crore and profit after tax (PAT) of Rs 2,170 crore. The gross sales turnover of the company in FY13 stood at record Rs 49,350 crore.

Despite the challenging market conditions in the country arising from demand stagnation, SAIL produced 13.4 million tonnes (mt) of crude steel by operating at 103% of its capacity, marking an improvement of 1% over CPLY. In line with its long term objective of increasing the proportion of value added steel in the overall product basket of SAIL, the production of special steels was scaled  up to 5 mt, up by 4% over last financial year.

SAIL Chairman, C S Verma expressed confidence that depressed market conditions will improve with recent measures to facilitate faster clearance of projects. He further stated that '2013-14 is going to be a landmark in SAIL’s journey of nation-building, with new production capacities being added.

The company, which has always vowed to conserve the limited natural resources has made a best-ever techno economic performance, showing an improvement in Blast Furnace productivity, energy consumption and coke rate by 5%, 3% and 1% respectively in 2012-13. The y-o-y growth in the usage of coal dust injection (CDI) technology touched 5%. Power generation by captive and JV power plants of SAIL grew by 4%, reaching the best ever level of 690 mw.

Product innovation remained at the forefront in FY 13 with the company laying special stress on making steel to suit the country’s strategic needs.  During the year, Sail added several unique products in the basket including special soft iron magnetic plates for the prestigious India-based Neutrino Observatory (INO) project of Bhabha  Atomic Research Centre (BARC),  IS 2062 E450 and E 350 HR Coils tailor-made for wagons of Indian Railways, ASTM 537 plates which finds application in pressure vessels, NACE quality plate developed for the petrochemicals industry, ultra high strength HR and CR steel with Mn-B, especially for auto body components and 31 CrV3 grade billets for spanners and hand tools.
Agencies

Agencies

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