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SAIL witnesses 7% rise in sales during April-August 2017 period

Steel Authority of India Ltd (SAIL), India's largest steel maker, witnessed a growth of 7% in sales at 5.5 million tonnes in the first five months of the ongoing fiscal, over the corresponding period last year.

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Sales growth due to ramping up of output, aggressive marketing and sale of new products says the company's spokesperson.
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The country's largest steel maker SAIL posted a 7% rise in sales at 5.5 million tonnes in the first five months of the ongoing fiscal, helped by production ramp-up.

"Steel Authority of India Ltd (SAIL) witnessed a growth of 7% in total sales during the April-August 2017 period over the corresponding period last year...," according to a company spokesperson.

The sales growth was on account of ramping up of output, aggressive marketing and sale of new products, he said.

"During this period, domestic sales showed improvement in both long and flat products enabling SAIL to increase its market share to 14.6%  from 13.4%," the spokesperson added.

As was as sales of galvanised products, PM plates, CR coils/sheets and heavy structural from the new mills of the company is concerned there was significant improvement.

SAIL, he said, also had the best ever cash collections last month.

SAIL Chairman P K Singh said the steel major is gearing up to encash the conducive environment for demand as envisaged in the progressive policies of the government for the Indian economy, especially the infrastructure sector.

The PSU had recorded an 8% growth in total sales at 13.14 MT in FY 2016-17.

The company had also recorded the best ever total sales figure for March 2017 at 1.575 MT, a rise of 21% over the year ago.

On the production front, the company had recorded a growth of 12% in saleable steel production for 2016-17 over the preceding fiscal. 

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