Essar Steel's sales up by 11% at 1.91 million tonnes
April 05, 2004
Essar Steel Limited (ESL) has ended the current fiscal with a higher production and sales. The sales grew in volumes terms by 11% at 1.91 million tonnes for the year ended March 31, 2004 compared to 1.72 million tonnes in the previous year.
ESL reached the pinnacle of its performance in the last year. While the production of HR Coil increased by 10% at 1.93 million tonnes (1.75 million tonnes in the previous year), the production of HBI, a rawmaterial for steel making, grew by 13% at 2.23 million tonnes (1.98 million tonnes in the previous year).
The Company had a healthy growth in its production and sales in the last quarter of the financial year ended March, 2004. While the production has grown over 7% at 0.5 million tonnes (0.47 million tonnes in the previous year), the sales have registered a growth of 10% at 0.52 million tonnes (0.47 million tonnes).
Essar Steel operates 2.4 mmtpa state of the art steel plant at Hazira, Gujarat. Company has made efforts to minimise the cost of production and optimum utilization of plant capacity.
During the year Essar Steel has developed newer grades of steel. It has become approved supplier to leading international earthmoving equipment manufacturer and automobile companies. This has led to manufacture of value-added grades and better realisation. The company is continually endeavouring to reduce cost and increase plant efficiency.
Essar Steel is part of Rs 17,000 crore Essar Group having interests in Steel, Shipping, Telecom, Power, Oil & Gas and Constructions.
Media contact:
Corporate Communications:
Essar House, 11 K.K.Marg, Mahalaxmi, Mumbai 400034, India
CORPORATE