Steel Authority of India (SAIL) Ltd.
Steel Authority of India Limited (SAIL) is the leading steel-making company in India. It is a fully integrated iron and steel maker, producing both basic and special steels for domestic construction, engineering, power, railway, automotive and defence industries and for sale in export markets. SAIL is also among the seven Maharatnas of the country’s Central Public Sector Enterprises.
SAIL manufactures and sells a broad range of steel products, including hot and cold rolled sheets and coils, galvanised sheets, electrical sheets, structurals, railway products, plates, bars and rods, stainless steel and other alloy steels. SAIL produces iron and steel at five integrated plants and three special steel plants, located principally in the eastern and central regions of India and situated close to domestic sources of raw materials, including the Company’s iron ore, limestone and dolomite mines. The company has the distinction of being India’s second largest producer of iron ore and of having the country’s second largest mines network. This gives SAIL a competitive edge in terms of captive availability of iron ore, limestone, and dolomite which are inputs for steel making.
SAIL’s wide range of long and flat steel products are much in demand in the domestic as well as the international market. This vital responsibility is carried out by SAIL’s own Central Marketing Organisation (CMO) that transacts business through its network of 37 Branch Sales Offices spread across the four regions, 25 Departmental Warehouses, 42 Consignment Agents and 27 Customer Contact Offices. CMO’s domestic marketing effort is supplemented by its ever widening network of rural dealers who meet the demands of the smallest customers in the remotest corners of the country. With the total number of dealers over 2000 , SAIL’s wide marketing spread ensures availability of quality steel in virtually all the districts of the country.
SAIL is a totally integrated iron and steel manufacturer producing for indigenous construction, railway, power, engineering, defense and automobile sectors. SAIL operates five integrated steel plants, three special steel plants, and one subsidiary unit. SAIL’s 86% shares are held by government of India, with remaining 14 percent held by public.
Beginning of SAIL goes as far back as 1954 when Hindustan Steel Limited (HSL) was established, with the President of India holding shares of this company on behalf of Indian citizens. HSL was primarily set up for managing Rourkela steel plant. Durgapur and Bhilai steel plants were set up initially under supervision of ministry of iron and steel. From 1957 onwards these two plants were brought under Hindustan Steel Limited’s control. Registered office of HSL originally set up in New Delhi shifted to Calcutta in 1956 and thereafter to Ranchi in 1959.
After incorporation of Bokaro Steel Plant in 1964, and completion of Rourkela, Durgapur and Bhilai steel plants, ministry of steel and mines drafted a policy for forming a holding company to manage all activities of these steel producing units. Consequently SAIL was established in 1973 with an authorized capital of Rs.2000.crores.
Steel Authority of India Limited with its asset worth of US $8.05 billion is largest public sector steel manufacturer in India. During April 2007- March 2008, SAIL achieved sales of US $7.88 billion and profits of US $1.45 billion.
SAIL was adjudged runner up as ‘Most Innovative Industry Resource’ organization by Baclubindia in 2007.