The four-pronged strategy helped shape the company's future actions

Celebrating its 60th year of production this year, SAIL has five integrated and three special steel plants and a countrywide marketing set supported by an extensive dealer network. It is the second largest producer of iron ore in India meeting its 100 per cent requirement from captive mines. The company offers the widest array of steel products among all Indian manufacturers, including products in mild, special and alloy steel categories in around 50 products, 500 grades and 5,000 dimensions. Saraswati Prasad, Chairman & Managing Director, SAIL, shares more... Please highlight one major challenge faced in FY2017-18, and how the company approached it. SAIL faced the severe challenge of turning around and coming back to profits. The company had suffered losses to the tune of Rs 70 billion in FY16. After the cyclical downturn of the global steel industry, which had an extensive impact on the domestic steel industry as well, things started getting back during FY2017-18. But various external challenges, like ramping up production from new units, impacted SAIL's margins. An internal turnaround map was drawn. It was based on improving operations, reorienting marketing strategy, prudent financial management and capitalising on SAIL's human resources. The efforts of team SAIL resulted in the company coming back to profits since the third quarter of FY2017-18. What decision do you consider the biggest contributor to the company's growth in FY17-18? The four-pronged strategy adopted by SAIL helped shape the company's future actions. There was also a massive group communication exercise across the company, which was based on the model of two-way interaction with employees. These helped understand the roadblocks and generate on-the-go and ground-level solutions bringing on board as many employees as possible. .tg {border-collapse:collapse;border-spacing:0;} .tg td{font-family:Arial, sans-serif;font-size:14px;padding:10px 5px;border-style:solid;border-width:1px;overflow:hidden;word-break:normal;border-color:black;} .tg th{font-family:Arial, sans-serif;font-size:14px;font-weight:normal;padding:10px 5px;border-style:solid;border-width:1px;overflow:hidden;word-break:normal;border-color:black;} .tg .tg-8m2u{font-weight:bold;border-color:inherit} .tg .tg-qcuy{font-weight:bold;background-color:#f8a102;border-color:inherit;vertical-align:top} .tg .tg-v3tf{font-weight:bold;background-color:#f8a102;border-color:inherit} .tg .tg-p8bj{font-weight:bold;border-color:inherit;vertical-align:top} Particulars Net sales EBITDA* Reported PAT FY2018 (Rs billion) 568.93 51.84 -4.82 Growth over FY 2017 (in%) 29.7 672 83 Going forward, what are your plans for the company's growth in FY18-19? SAIL aims to become a 21 MT capacity company with the completion of its modernisation and expansion programme. The company is aiming at a growth rate of 10 per cent in volumes every year, which it is achieving as well. It also has plans to considerably increase the share of its value-added products. Going ahead, with its reoriented marketing strategy, it looks forward to expand its reach to the rural and retail sectors and actively expand its global footprint. In sync with the vision of the National Steel Policy, the company's growth and expansion plan aims to expand as per the growing market requirement.