19 September, 2020

"Today's Market Conditions Are Totally Different"

SAIL chairman Arvind Pande is confident that this year will be far better than the last one. Excerpts from an interview:

"Today's Market Conditions Are Totally Different"
outlookindia.com
-0001-11-30T00:00:00+05:53

In 1996-97, SAIL's revenues plunged by 60 per cent....

Last financial year, we had to bear approximately Rs 1,000 crore due to escalation in input costs which we were not able to pass on to the customer due to the sluggish market conditions and rise in competition. Simultaneously, prices declined in the domestic market primarily due to cheaper imports, especially from the CIS countries. If we had been able to pass on this additional cost to the customer, our profit would have been much more than that for the previous year.

Performance has been way behind target in April-June 1997 too, so what do you see the final 1997-98 figures to be like?

We are poised this year not only for a higher turnover but a much higher profit. In the first quarter, we have pegged production realistically to cater to market demands, and we've been exporting larger volumes to ease the pressure on the domestic market. We've also utilised this opportunity to carry out major capital repairs. We are planning for around 19 per cent growth in...

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