By Malvika Gurung
Investing.com — Shares of the country’s largest steel-making company Steel Authority (NS:) of India will be in focus on September 29, after the state-owned giant announced posting its best-ever production performance in the last fiscal, FY22.
The Maharatna CPSE has recorded the production of 18.733 million tonnes of hot metal and 17.366 million tonnes of crude steel during the financial year 2021-22.
The state-owned steel producer informed of entering the elite club of Indian companies with a turnover of more than Rs 1 lakh crore for the first time, at its annual general meeting on Wednesday.
Further, the giant’s turnover of Rs 1.03 lakh crore in FY22 grew by 50.5% compared to the previous best turnover of Rs 68,452 crore, recorded during FY21.
The company informed its shareholders during the meeting that its over 50% jump in turnover, in conjunction with an improvement in operational performance has helped SAIL achieve its highest-ever numbers in terms of profitability.
