SAIL to focus on cutting costs
21 Aug 2017
Steel Authority of India Ltd (SAIL) has charted a roadmap to turn around. In an official statement, the public sector undertaking said it will set an Earnings before interest, tax, depreciation and amortisation (EBITDA) target for the next two to three years.
The turnaround goals were spelled out by SAIL Chairman PK Singh to company employees. He said: “Market conditions are volatile and we have to adapt to them fast, matching the world standards.” The goals highlighted by Singh include reducing procurement and finance costs. The company will also focus on reducing the operating cost of old and new assets and overhead costs.
In addition to these, the company will work on improved marketing, branding and distribution.
Ramping up production from new and modernised units and completing pending projects at the earliest have also been listed for the turnaround.
Source: The Hindu Business Line