New Delhi: Steel Authority of India Ltd (SAIL) on Wednesday said Amarendu Prakash on Wednesday assumed the charge as the company's Chairman. He succeeds Soma Mondal, who retired from the post on April 30, 2023.
In a regulatory statement, SAIL said, "Amarendu Prakash, Director (in-charge at SAIL's Bokaro Steel Plant (BSL), SAIL) has joined as Chairman SAIL w.e.f. May 31, 2023". A B.Tech in Metallurgy from BIT Sindri, Prakash is an accomplished technocrat and possesses over 30 years of experience, comprising 24 years in plant operations at BSL, 4 years at the Chairman's office in SAIL, and 2 years as a Director on SAIL Board as an In-charge of BSL.
He began his career at SAIL in 1991, with a posting in rolling mills. SAIL, under the Ministry of Steel, is the country's largest steel-making company, with an annual capacity of around 21 million tonnes.
Last year, Steel Authority of India Limited had posted the best ever production performance of 18.733 million tons hot metal and 17.37 million tons crude steel during the financial year 2021-22 and the company's turnover crossed Rs 1 lakh crore for the first time.
For the first time, the company entered into the elite club of Indian companies having a turnover above Rs one lakh crore. The turnover of Rs 1.03 lakh crore during FY22 saw substantial growth of more than 50 per cent over the previous best of Rs 68452 crore achieved during FY21, the Ministry of Steel said.
The increase in turnover coupled with improved operational performance helped the Company achieve its highest ever numbers in terms of profitability, the ministry said. Steel Authority of India Limited (SAIL) held its 50th Annual General Meeting, on Wednesday at Company's headquarters in New Delhi. Soma Mondal, Chairman, SAIL addressed the shareholders in the meeting, held through a virtual platform.
