Defying the overall trends in the slowing global and domestic economy, national steel producing company Steel Authority of India Ltd (SAIL) achieved a 5.1 per cent growth in total sales and 1.8 per cent rise in saleable steel production in the third quarter (October-December 2012) of the current financial year (2012-13) compared to the corresponding period last year (CPLY). With a renewed thrust on operational improvements, techno-economic parameters registered significant improvements in the third quarter of this fiscal compared to CPLY. Blast Furnace productivity was up 3.9 per cent, energy consumption down 2.1 per cent and the coke rate down 1.2 per cent.
Declaring the company's third quarter financial results on Tuesday, the SAIL board also announced an interim dividend for its shareholders at 16 per cent of the company's paid-up capital against 12 per cent last year.
'2013 is a crucial year for SAIL, with new capacities coming up at its plants,' said company Chairman C S Verma. 'With strong signals of growing investment in infrastructure, SAIL is well positioned to benefit from the growth phase of the economy and steel industry in the near future.'
The Maharatna Steel Authority of India Ltd's sales turnover grew 1 per cent in the quarter to Rs 11,801 crore from Rs 11,686 achieved in CPLY. A lower NSR due to a subdued market and increase in royalty on raw materials impacted the profitability of the company, which was offset by various management initiatives.
The cumulative net worth of the company in the April-December 2012 period increased from Rs 38,811 crore as on March 31, 2012, to Rs 40,771 crore as on December 31, 2012.
SAIl's gross turnover for the first nine months of the current fiscal was Rs 35,690 crores, which is marginally higher than the Rs 35,563 crores achieved in CPLY. With a focus on enriching the product-mix, the share of value added products in April-December 2012 increased to 42 per cent compared to 39.7 per cent in the same period of the previous fiscal.
The April-December 2012 period also saw development of new products by the company. SAIL's Bhilai Steel Plant supplied special soft iron magnetic plates for the prestigious India-based Neutrino Observatory (INO) project of Bhabha Atomic Research Centre (BARC). SAIL plants at Bokaro and Salem too started production of IS 2062 E450 and E 350 HR Coils tailor-made for Indian Railways.
During the current financial year, significant progress was made in modernisation and Expansion projects, especially at Rourkela Steel Plant (RSP) and IISCO (ISP). At RSP, the new sinter plant commenced production. The new coke oven battery and 4,060 m3 blast furnace at this plant too are ready and likely to commence production in a couple of months.
At ISP, despatches have already commenced from the new sinter plant to Bokaro Steel Plant. The new coke oven battery, the power & blowing station and wire rod mill too are ready for commencing operations from this month at Burnpur.
Declaring the company's third quarter financial results on Tuesday, the SAIL board also announced an interim dividend for its shareholders at 16 per cent of the company's paid-up capital against 12 per cent last year.
'2013 is a crucial year for SAIL, with new capacities coming up at its plants,' said company Chairman C S Verma. 'With strong signals of growing investment in infrastructure, SAIL is well positioned to benefit from the growth phase of the economy and steel industry in the near future.'
The Maharatna Steel Authority of India Ltd's sales turnover grew 1 per cent in the quarter to Rs 11,801 crore from Rs 11,686 achieved in CPLY. A lower NSR due to a subdued market and increase in royalty on raw materials impacted the profitability of the company, which was offset by various management initiatives.
The cumulative net worth of the company in the April-December 2012 period increased from Rs 38,811 crore as on March 31, 2012, to Rs 40,771 crore as on December 31, 2012.
SAIl's gross turnover for the first nine months of the current fiscal was Rs 35,690 crores, which is marginally higher than the Rs 35,563 crores achieved in CPLY. With a focus on enriching the product-mix, the share of value added products in April-December 2012 increased to 42 per cent compared to 39.7 per cent in the same period of the previous fiscal.
The April-December 2012 period also saw development of new products by the company. SAIL's Bhilai Steel Plant supplied special soft iron magnetic plates for the prestigious India-based Neutrino Observatory (INO) project of Bhabha Atomic Research Centre (BARC). SAIL plants at Bokaro and Salem too started production of IS 2062 E450 and E 350 HR Coils tailor-made for Indian Railways.
During the current financial year, significant progress was made in modernisation and Expansion projects, especially at Rourkela Steel Plant (RSP) and IISCO (ISP). At RSP, the new sinter plant commenced production. The new coke oven battery and 4,060 m3 blast furnace at this plant too are ready and likely to commence production in a couple of months.
At ISP, despatches have already commenced from the new sinter plant to Bokaro Steel Plant. The new coke oven battery, the power & blowing station and wire rod mill too are ready for commencing operations from this month at Burnpur.