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Indian steel companies including the public sector steel companies have consistently enhanced their capacities, production and sales including exports over the years. Capacity for domestic crude steel production has been expanded from 109.85 Million Tonnes Per Annum (MTPA) in 2014-15 to 142.29 MTPA in 2019-20 while crude steel production has gone up from 88.98 MTPA in 2014-15 to 109.14 MTPA in 2019-20. India was a net exporter of steel in 2019-20 and during the period of April-August, 2020, steel exports from India have increased by more than 153% in comparison to the same period in 2019-20.

 

There are two Public Sector Steel Companies i.e. Steel Authority of India Ltd.(SAIL) and Rashtriya Ispat Nigam Ltd.(RINL). The details of the financial performance of SAIL and RINL over the last three years are as following:-

 

Year

Turnover (Gross)

Net Profit (+)/ Loss (-) after Tax (PAT)

(Rs. Crore)

SAIL

2017-18

58297

-482

2018-19

66267

2179

2019-20

61025

2022

RINL

2017-18

16618.40

-1369.01

2018-19

20844.38

96.71

2019-20

15920.46

-3910.17

 

Steel CPSEs have been making continuous efforts towards reducing the operational costs through technology induction, enhanced productivity and streamlining procurement.

 

This information was given by the Union Minister for Steel Shri Dharmendra Pradhan in a written reply in the Lok Sabha today.

Sources https://pib.gov.in/PressReleasePage.aspx?PRID=1654019

Global Competition in Steel Industry
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