The Board of Directors has the pleasure of presenting the 44th Annual
Report of the Steel Authority of India Limited (SAIL, the Company)
together with Audited Accounts for the Financial Year ended 31st March,
A. FINANCIAL REVIEW
Your Company achieved a turnover of Rs.43,337 crore during the
Financial Year 2015-16, which is lower by 14% over previous year,
mainly due to decrease in Net Sales Realisation of Saleable Steel of 5
Integrated Steel Plants by about 20%. The prices of steel products kept
falling throughout the year due to fall in Global Steel Prices leading
to predatory imports from China, Japan, Korea, etc. However, there has
been an increase in price realisation after imposition of Minimum
Import Price(MIP) w.e.f. 5th February, 2016. The loss after tax of your
Company for the Financial Year 2015-16 was Rs.4,137 crore compared to
net profit after tax of Rs. 2,093 crore in the previous Financial Year.
The performance of the Company during the year was adversely affected
due to lower Net Sales Realisation, lower saleable steel production,
adverse financial impact of on account of contribution to District
Mineral Foundation and National Mineral Exploration Trust w.e.f. 12th
January, 2015, higher usage of relatively expensive imported coal in
the blend due to lower availability of indigenous coal, higher salaries
& wages, higher repairs & maintenance expenditure, higher interest
charges and reduction in interest earnings on term deposits, higher
depreciation due to capitalisation of new facilities and
non-availability of gain on sale of investment in Bokaro Jaypee Cement
Limited considered in the previous financial year. However, the adverse
factors have been partially offset by higher sales volume and lower
imported & indigenous coal prices, reduction in coke rate, reduction in
demurrage expenses, reduction in price of ferro alloys, etc.
SAIL continued its thrust on optimum utilisation of funds by better
fund management. This included replacement of high cost short term
loans with low cost debts, timely repayment of loans including
interest, strategic parking of surplus funds with scheduled banks,
advance actions for future fund raising, etc. to meet our growth
objectives. Further, the Company hedged the foreign currency risk on
Buyer''s Credit depending on market conditions. The Company had
borrowings of Rs.33,217 crore as on 31st March 2016. The debt equity
ratio of the Company increased to 0.85:1as on 31st March 2016 from
0.69:1 as on 31st March 2015 due to increase in borrowings as well as
reduction in net worth during the year. The net worth of Company
declined from Rs.43,505 crore as on 31st March 2015 to Rs.39,281 crore
as on 31st March 2016.
M/s India Ratings & Research Pvt. Ltd., M/s CARE and M/s Brickwork
Ratings, RBI approved credit rating agencies, assigned ''IND AA Negative
Outlook'', ''AA '' and ''BWR AA outlook stable'' ratings respectively for
SAIL''s long term-borrowing programme.
B. OPERATIONS REVIEW
Financial Year 2015-16 witnessed several landmark achievements by your
Company. The Company achieved highest ever Hot Metal production of 15.7
Million Tonne(MT) surpassing its previous best of 15.4 MT achieved in
2014-15 and crude steel production of 14.3 MT surpassing previous best
of 13.9 MT achieved in 2007-08. The new Bloom cum Round Caster, new
Dolomite Plant and 125 Tonne Ladle Furnace have been commissioned in
Durgapur Steel Plant. The Medium Section Mill(MSM) started trial
production from January, 2016. Production from new facilities is being
ramped up to the rated capacity. Total Hot Metal production from new
facilities was 3.54 MT, Crude Steel production was 1.86 MT and Saleable
Steel production was 1.5 MT. SAIL has achieved all time best
performance in case of Continuously-Cast Steel and Sinter production,
with a production of 10.8 MT & 22.6 MT and growth of 4% & 10%
respectively over last year.
SAIL''s various initiatives to reduce environmental footprint and
enhance operational efficiency have led to a significant improvement in
environmental parameters as well as in techno-economic efficiency. This
has enabled your Company to produce steel in a greener and more
environmental friendly manner than ever before. SAIL Plants recorded
the best ever Coke Rate at 489 kg/thm and Specific Energy Consumption
of 6.51 Gcal/tcs. This was achieved as a result of higher volume of Hot
Metal produced through new state of the art Blast Furnaces (23% of
total Hot Metal) and increased Crude Steel production through energy
efficient CC route (up by 4% over corresponding period of last year).
In addition, SAIL achieved the lowest ever Particulate Matter (PM)
Emission Load (0.81 kg/tcs), Specific Water Consumption (3.51 m3/tcs)
and Specific Effluent load (0.09 m3/tcs). SAIL Plants have also reduced
their CO2 emission levels to 2.61 T/tcs which is their lowest ever
emission, showing significant improvement over previous years.
Maintaining the fervor for continuous improvement, your Company has
developed several new products during the year including earthquake
resistant structurals as per ISI5962:20I2 and two new grades of TMT
rebars namely Fe 4155 and Fe 500S as per ISI786:2008 standard on High
strength deformed bars and wires for concrete reinforcement, further
enhancing its extensive product portfolio. A total of 24 new products
were developed during the Financial Year 2015-16, catering to industry
sectors including automobiles, construction, engineering, defense, etc.
Average power requirement of SAIL Plants during the FinancialYear 2015-
16 was 1180 MW, which was higher by 40 MW compared to last year due to
increased operations following commissioning of expansion facilities at
Rourkela Steel Plant and IISCO Steel Plant. Captive Power Plants
supplied about 67% of the total power requirement and balance 33% was
purchased from grid utilities. The percentage of power requirement met
through captive power generation in 2015-16 had increased to 67% from
6I% in the previous year due to enhanced power generation by captive
The practice of gainful utilization of surplus captive power through
inter- plant wheeling of power was continued during the year. Rourkela
Steel Plant, Salem Steel Plant and Chandrapur Ferro Alloy Plant (CFP)
received wheeled power of about 140MU from Power Plant-3(PP-3) at
Bhilai Steel Plant. Wheeling from PP-3 was started for the first time
to CFP during the year, which helped in replacing costly grid power and
thereby, resulting in substantial cost savings.
For cost optimisation, about 100 Million Units of cheaper power were
purchased from Power Exchange which contributed to substantial cost
savings. Further, various other measures for reducing the grid power
costs, including reduction of contract demand of Plants with respective
grid supply utilities to optimum levels, were also undertaken during
the year, resulting in cost savings.
Augmentation of the Company''s captive power generation capacity by
installation of Captive Power Plants as a part of ongoing expansion as
well as new capacity addition through joint venture company, NTPC- SAIL
Power Company Pvt. Ltd.(NSPCL), is underway. Out of total 2I6MW
envisaged capacity addition under ongoing expansion, I60 MW capacity
has been added so far and balance is expected in the next year.
Proposed installation of 290 MW capacity through NSPCL is also in
With regard to Company''s commitment towards renewable power sources,
actions have been initiated for development of 200 MW renewable
capacity by the year 20I9 through NSPCL. This includes IMW capacity
grid interactive Solar PV Plant at RSP which was commissioned during
During the Financial Year 20I5-I6, total requirement of iron ore was
met from captive sources. The Company''s captive iron ore mines produced
about 24.83 million tonnes(MT). However, in case of coking coal, around
I4% requirement was met from indigenous sources (Coal India Limited &
captive sources) (2.08MT) and for the balance requirement of coking
coal (13.30 MT), the Company has to depend on imports due to limitation
of availability within the Country. In the Financial Year 2015-16,
production in captive collieries of the Company was about 0.73 MT, out
of which 0.56 MT was raw coking coal and balance 0.I7MT being non
coking coal. In case of fluxes, around 1.28 MT of limestone and 0.98
MT of dolomite were produced, giving a production of 2.26 MT fluxes
from captive sources. For thermal coal, your Company depends entirely
on purchases from Coal India Limited except small quantity produced
from captive mines.
The iron ore production at Barsua mine, suspended since 17th May, 20I4
as per the direction of the Hon''ble Supreme Court, is yet to resume. In
the matter of restarting operations in ML-162 lease of Barsua mine, the
Hon''ble Supreme Court passed interim order on 2nd March 20I6 and
directed to revert back after obtaining Stage-II FC for diversion of
forest land in ML-162 lease of SAIL Barsua mine.
In order to expedite capacity expansion projects of mines, following
environment and forest clearance have been obtained during the
Financial Year 2015-16:
- Environment clearance for setting up of I MTPA Pellet Plant with
upstream slime beneficiation facilities at Dalli-Rajhara Iron ore
Complex, Chhattisgarh was granted by Ministry of Environment, Forests
and Climate Change (MoEFCC) on I7th April, 2015.
- Environment clearance for capacity expansion of Kuteshwar Limestone
mine from Right Bank lease to 2.32 MTPA was granted by MoEFCC on 2nd
- Environment clearance for 0.06 MTPA capacity production from Left
Bank lease of Kuteshwar Limestone mine was granted by MoEFCC on 17th
- Environment clearance for re-opening of Baraduar Dolomite mine with
capacity of 2 MTPA with a condition to obtain Stage-I Forestry
Clearance within 18 months was granted by MoEFCC on 2nd September,
- Environmental Clearance for Topailore Iron Ore Mining Project has
been granted by Jharkhand SEIAA, Ranchi vide letter dated 17.08.20I5
for production of 0.6 MTPA iron ore.
- Stage-II forest clearance for diversion of 60 Ha of forest land in
Mahamaya & Dulki iron ore mining lease of Bhilai Steel Plant''s mine was
granted by MoEFCC on 7th August, 20I5.
- Stage-II forest clearance for diversion of 37.66 Ha of Jungle Jhar
land for creating infrastructure for Gua capacity expansion project in
Surface lease of Gua mine was granted by Regional office of MoEFCC on
4th March, 20I6.
However, the Stage-II forest clearance for the Duargaiburu lease of Gua
mine is yet to be granted by MoEFCC. In view of its criticality to the
Gua capacity expansion project, the matter is being actively pursued at
various levels in the Government.
In view of promulgation of MMDR Amendment Act, 20I5, Order of Ministry
of Mines, Government of India dated 6th February, 2015 regarding
extension of leases period for Government Companies till 31st March,
2020, and Mineral (Mining by Government Company) Rules, 2015 dated 3rd
December, 2015, following mining lease periods have been extended by
respective State Governments:
- Government of Odisha vide Order dated I0th February, 20I6 has
extended the period of the original grant of mining lease of ML-I39 of
Barsua-Kalta to 50 years i.e. from I7.01.1975 to 16.01.2025
- Government of Odisha vide Order dated I4th March, 20I6 also extended
the validity period of the Purnapani Limestone & Dolomite mining lease
from the date of expiry of the last validity period of lease up to 31
st March, 2020.
- Government of Chhattisgarh vide Order dated I4th March, 2016 has
extended the period of the original grant of mining lease of
Kalwar-Nagur of Bhilai Steel Plant for 50 years i.e. from 01.04.1975 to
Under notified coal blocks for allotment to Government Companies, two
coal blocks namely Sitanala and Parbatpur Coking Coal Mines have been
allocated to SAIL and Agreements in this regard with the Nominated
Authority for Sitanala and Parbatpur were signed on 31st August, 2015
and 26th October, 2015 respectively. Further, Allotment Orders for the
Sitanala and Parbatpur Coking Coal Mines were issued by Nominated
Authority, Ministry of Coal on 31st August, 2015 and 23rd March, 20I6
Sales & Marketing
In-spite of the challenging market conditions, your Company achieved a
total sales volume of 12.2 million tonnes during the Financial Year
20I5- I6, registering a growth of about 4% over the previous year. With
regard to Dealer Sales, the best ever sales of 0.79 million tonnes were
achieved during the Financial Year 2015-16, thereby registering a
growth of 29% over such sales during 2014-15. Stainless Steel Cold
Rolled Coils were exported to Brazil for the first time.
Your Company achieved highest ever sales of Plate Mill Plates of I.79
million tonnes with a growth of I6% over previous year. Similarly,
sales of Long Products also registered a growth of 21% with best ever
sales of TMT & WRC at 1.68 million tonnes & 0.41 million tonnes
Public Procurement Policy for Micro and Small Enterprises
As required by the Public Procurement Policy of the Government of
India, the information on procurement from Micro & Small Enterprises
during Financial Years 2015-16 and 20I4-15 is given below:
Particulars 2015-16 2014-15
Total Amount of Procurement 3211.93 3372.98
Total Procurement from MSE 677.53 737.60
%age Procurement from MSE 21.09 21.87
C. GROWTH PLAN AND MODERNISATION & EXPANSION PROGRAMME Growth Plan
To maintain its current dominance in the domestic market and to meet
the future challenges, your Company is working on a long term strategic
plan ''Vision 2025'', which will steer the Company towards a target of 50
million tonnes of Hot Metal capacity, thereby meeting the strategic
objectives of maintaining leadership in Indian Steel sector and a
position amongst the top Steel companies globally. The growth plan,
besides targeting higher production, also addresses the need for
eliminating technological obsolescence, achieving energy savings,
enriching product- mix, reducing pollution, developing mines and
collieries, introducing customer centric processes and developing
matching infrastructure facilities.
Modernisation & Expansion Programme
Your Company is nearing towards the last leg of implementation of
current phase of Modernisation & Expansion Programme. At present, the
installed Hot Metal capacity of the Company is 19.73 million tonnes per
annum and the envisaged Hot Metal capacity of 23.46 million tonnes per
annum will be achieved in 20I7.
During the Financial Year 20I5-I6, your Company has achieved many
milestones. At Bokaro Steel Plant, Roughing Mill Up-gradation of Hot
Strip Mill has been completed and has become operational. At Durgapur
Steel Plant, New Medium Structural Mill has become operational. At
Bhilai Steel Plant, New Rail Welding Line is in operation and Hot
trials in Universal Rail Mill have been carried out. A capital
expenditure of Rs.6,034 crore has been incurred during Financial Year
20I5-I6 and Capex planned for 2016-17 is Rs.4,000 crore.
The details of Addition, Modification & Replacement (AMR) Schemes under
implementation are given in the Management Discussion & Analysis (MD&A)
Report, which is attached and forms part of the Annual Report.
D. HUMAN RESOURCE MANAGEMENT REVIEW
Your Company recognizes contribution of its Human Resources in
providing it the competitive advantage. The Company has achieved its
present level of excellence through investment in its human resource,
whose skill and knowledge constitute the basis of every initiative - be
it technology or innovation. Developing skills and capabilities of
employees to improve manpower utilization and labour productivity is
the key thrust area of Human Resource Management (HRM) in the Company.
Your Company provides an environment conducive for learning, encourages
adoption of best practices in every area and nurtures creativity and
innovation among employees. Human Resource initiatives in SAIL are
focused on developing team spirit, employee empowerment and their
involvement in various improvement activities. Strategic alignment of
HRM to business priorities and objectives has facilitated smooth
transition to state-of-the-art technology in the Modernization and
Enhanced Productivity with Rationalized Manpower
Your Company achieved the Labour Productivity (LP) of 3I5 TCS/Man/ Year
in 20I5-I6. The manpower strength of the Company as on 3Ist March, 20I6
was 88,655 nos. with manpower rationalization of 4,697 nos. achieved
during the year. The enhanced productivity with rationalized manpower
could be achieved as a result of judicious recruitments, building
competencies and infusing a sense of commitment and passion among
employees to go beyond and excel. Trend of enhanced productivity and
manpower rationalization since 2006-07 onwards is depicted below:
Developing Employee Capabilities & Competencies
Your Company believes that training facilitates the development of
employee''s knowledge and skills so that the resultant growth of
competence contributes towards attainment of organisation''s goals and
objective. SAIL has been making sustained efforts through various
training and development activities with focus on preservation,
transfer and improvement of skills, knowledge, technology in
collaboration with reputed organizations and development of effective
managerial competencies in association with premier institutes.
Preparing employees for tomorrow, for effectively taking up challenges
and discharging new roles and responsibilities was given a major
Overall 33,563 employees were trained against target of 3I,049
employees during the year on various contemporary, technical and
Harmonious Employee Relations
SAIL has maintained its glorious tradition of building and maintaining
a conducive and fulfilling employee relations environment. The healthy
practice of sorting out and settling issues through discussions with
trade unions/workers'' representatives enabled the Company in ensuring
workers'' participation at different levels and maintaining a peaceful
IR climate. Some of the bi-partite forums are functioning since early
seventies and are sufficiently empowered to address different issues
related to wage, safety, and welfare of workers, arising from time to
time, thus helping in establishing a conducive work environment.
Bipartite forums like National Joint Committee for Steel Industry
(NJCS), Joint Committee on Safety, Health & Environment in Steel
Industry (JCSSI), etc. with representation from major central Trade
Unions as well as representative Unions of Plants/Units meet on a
periodic basis and jointly evolve recommendations/ action plans for
ensuring a safe and harmonious work culture, which gets substantiated
from the harmonious Industrial Relations enjoyed over the years by SAIL
Plants/Units, marked with diverse work culture at multi-locations.
In addition, Quality Circles, Suggestion Schemes, Shop Improvement
Group workshops also offer multiple avenues for enhanced workers''
participation. Workers are also kept abreast of strategic business
decisions and their views sought thereon through structured
Communication with employees at various levels on a wide range of
issues impacting the Company''s performance as well as those related to
employees'' welfare is done in a structured manner across the Company.
Mass communication campaigns are undertaken at CEO / Senior Officers''
level involving structured discussion with large group of employees.
These interactive sessions help employees to align their working with
the goals and objective of the Company leading to not only higher
production and productivity but also enhance the sense of belongingness
of the employees.
Grievance Redressal Mechanism
Effective internal machinery for grievances redressal has been evolved
and established in SAIL Plants and Units, separately for executives and
non-executives. Joint grievance committees have been set up at Plants/
Units level for effective redressal of grievances.
SAIL Plants/Units are maintaining 3 stage grievance handling system and
employees are given an opportunity at every stage to raise grievances
relating to wage matters, working conditions, leave, work assignments
and welfare amenities, etc. Majority of grievances are redressed
informally in view of the participative nature of environment existing
in the Plants/ Units. The system is comprehensive, simple and flexible
and has proved effective in promoting harmonious relationship between
employees and management.
Against 7 staff grievances pending at the start of the year (i.e. as on
1.4.20I5) and 4I6 staff grievances received during the year, SAIL
disposed 422 staff grievances during the year 20I5-I6, achieving 99.76%
In SAIL, pay and other benefits for executives are based on the
Presidential Directives issued by Ministry of Steel, Government of
India. The last pay revision effective from 0I/0I/2007 was done in
accordance with Presidential Directives dated 05/I0/2009. As per this,
variable pay in the form of Performance Related Pay (PRP) has been
introduced for executives. The PRP is based on the performance /
profitability of the Company as well as individual performance rating
which is aligned to the organization''s objectives. In case of
Non-executive employees, the salaries and wages are finalized / revised
in bipartite forum of National Joint Committee for Steel Industry
(NJCS). The last NJCS agreement was finalized and signed on 0I.07.20I4,
which resulted in pay revision of non- executive employees w.e.f.
0I.0I.20I2. In terms of notification issued by the Government of India,
the provisions of section I97 of the Companies Act, 20I3 are not
applicable to Government Companies. As such, the disclosures to be made
in the Board''s Report on the remuneration of Directors and other
prescribed details are not included in this Report.
Initiatives for Socio-economic Development of SCs /STs & Other Weaker
Sections of the Society
Presidential Directives on Reservation for Scheduled Castes and
Scheduled Tribes in Appointments in Public Enterprises continue to be
implemented. As on I.4.20I6, out of total manpower of 88,655 nos.,
I4,454 belonged to SCs (I6.30%), I2,587 belonged to STs (I4.20%) and
I0,768 belonged to OBCs (I2.I5%).
SAIL Plants and Units including Mines are situated in economically
backward regions of the Country with predominant SC/ST population.
Therefore, your Company has contributed to the overall development of
civic, medical, educational and other facilities in these regions. Some
of the contributions are:
- Recruitment of non-executive employees, which comprise of over 84% of
the total employees, are carried out mainly on regional level and hence
a large number of SCs/STs and other weaker sections of the society get
the benefit of employment in SAIL.
- Over the years, a large group of ancillary industries has also
developed in the vicinity of Steel Plants. This has created
opportunities for local unemployed persons for jobs and development of
- For jobs of temporary & intermittent nature, generally contractors
deploy workmen from the local areas, which again provide an opportunity
for employment of local candidates of economically weaker section.
- Establishment of SAIL Steel Plants in economically backward areas has
given a fillip to the economic activities, thus benefiting the support
population providing different types of services.
- Steel Townships developed by SAIL have the best of medical, education
and civic facilities and are like an oasis for the local Scheduled
Castes, Scheduled Tribes and other population who share the fruits of
prosperity along with SAIL employees.
SAIL has undertaken several initiatives for the socio-economic
development of SCs/STs and other weaker sections of the society which
are mainly as under:
- Special Schools have been started exclusively for poor,
underprivileged children at the five integrated Steel Plant locations.
The facilities provided include free education, mid-day meals, uniforms
including shoes, text books, stationery items, school bag, water bottle
and transportation in some cases.
- No tuition fee is charged from SC/ST students studying in the Company
run schools, whether they are SAIL employees'' wards or non-employees''
- Free medical health centres for poor have been set up at Bhilai,
Durgapur, Rourkela, Bokaro, Burnpur (Gutgutpara) providing free medical
consultation, medicines, etc. to the peripheral population mainly
comprising of SC/ST and weaker sections of society.
- SAIL Plants have adopted tribal children. They are being provided
free education, uniforms, textbooks, stationery, meals, boarding,
lodging and medical facilities for their overall growth at residential
hostels, such as Saranda Suvan Chhatravas, Gyanodaya Hostel and an
exclusive Gyan Jyoti Yojana for nearly extinct Birhor Tribe.
- For Skill Development and better employability, tribal school
passouts have been sponsored for coaching in premier institutes for
IIT/JEE entrance examinations and for trainings along with monthly
stipend, accommodation, transportation and fooding facility at various
ITIs, Nursing and other vocational training institutes.
Implementation of Presidential Directives on Reservation for SC/ST
- Liaison Officers have been appointed as per Presidential Directives
for due compliance of the Orders and instructions pertaining to
reservation for SCs/STs/OBCs at Plants/Units of SAIL.
- SC/ST Cell is functioning in all of the main Plants/Units. A member
belonging to SC/ST community is associated in all DPCs/Selection
Committees. It is ensured to keep minimum one SC/ST category member on
every selection panel. A sufficiently senior level officer of SC/ST
category is nominated for the purpose as per the level of the
Recruitment Board /Selection Committees/DPC.
- Internal workshops for Liaison Officers for SC/ST/OBC and other
dealing officers of SAIL Plants/Units are conducted at regular
intervals through an external expert to keep them updated on the
reservation policy for SC/ST and other related matters.
- Plants/Units of SAIL have SC/ST Employees'' Welfare Associations which
conduct regular meetings with Liaison Officers on implementation of
reservation policy & other issues. In addition, an Apex level umbrella
body namely SAIL SC/ST Employees Federation also exists in SAIL to
represent the issues of SC/ST Employees in a coordinated manner. A
meeting with the Federation at the level of Director (Personnel) is
organized on a regular basis.
- National Commission for Scheduled Tribes reviewed position of SAIL
w.r.t. implementation of reservation policy and CSR schemes in respect
of Scheduled Tribes on 2nd February, 20I6 at New Delhi.
Hon''ble Chairperson, Dr. Rameshwar Oraon praised the efforts of SAIL
towards rehabilitation of tribals and other schemes of SAIL.
Implementation of Right to Information Act, 2005
Your Company has been occupying a pioneer position in implementation of
Right to Information (RTI) Act, 2005 in letter and spirit. The Company
has designated Public Information Officers (PIO) / Assistant Public
Information Officers and Appellate Authorities and Transparency Officer
under Section 5 and Section I9(I) of RTI Act in each Plant and Unit for
speedy redressal of the queries received under the Act. The provisions
under the Act are being complied with by all the Plants and Units of
the Company. All statutory reports including Annual Report are sent to
Ministry of Steel, besides uploading on website of the Company-
www.sail.co.in. Under Sec.5(5), all the officers/ line managers
responsible for providing information to the PIO are called Deemed PIO
and are made equally responsible as PIO towards timely providing of
information to the applicant.
An exclusive RTI Portal has been developed with link being available on
website of the Company. All the Plants/Units of SAIL have listed I7
manuals and details of Authorities under the Act are available on the
website of the Company. Quarterly Returns and Annual Returns on
implementation of RTI Act are being submitted online through the CIC
portal. Implementation of online request has been introduced from Ist
May 20I5 onwards. A compilation of Record Retention Policy of various
functions of Corporate Office has also been uploaded on the website of
the Company. In addition, compilations of important decisions of CIC,
DOPT circulars and High Court cases have also been made available on
the website of the Company.
Workshops on ''Obligation of Public Authorities under RTI Act, 2005 are
being organised at Corporate Office/Plants/Units and a Information
Commissioner has been present in most of these programs. Further,
awareness programmes on RTI Act are also held at Plants/ Units
including Corporate Office on a regular basis.
A total of 3758 applications and 639 appeals were received under RTI
Act, during the Financial Year 20I5-I6, all of them have been disposed
off within the stipulated time prescribed under the Act. 90 number of
cases were taken up with the CIC and all of them were disposed off in
favour of the Company.
Your Company is totally committed to excellence in public service
delivery through good governance, by a laid down process of identifying
citizens, our commitment to them in meeting their expectations and our
communication to them of our key policies, in order to make the service
delivery process more effective.
SAIL''s Citizen Charter has outlined commitment of SAIL towards its
stakeholders, thereby empowering them to demand better products and
services. The Citizen''s Charter of SAIL may be summarized in four
objectives, as given below:
- Ensuring citizen-centric focus across all its processes by adopting
Total Quality Management principles for improvement of products and
- Ensuring effective citizen communication channels.
- Demonstrating transparency and openness of its business operations by
hosting the Citizen''s Charter on the Corporate website.
- Working towards delight of citizens, by fail-safe processes and in
case of exigencies leveraging its service recovery processes, like
Grievance Redressal, Handling Complaints, etc.
Disclosure under the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013:
The Company has in place a system of Complaints Committees (under SAIL
Conduct, Discipline and Appeal (CDA Rules, I977)) in line with the
requirements of the Sexual Harassment of Women at the Workplace
(Prevention, Prohibition and Redressal) Act, 20I3.These Committees have
been set up to redress complaints received regarding sexual harassment.
All employees of the Company are covered under this Policy.The
following is a summary of sexual harassment complaints received and
disposed off during the year 20I5-I6:
Number of complaints received : 5
Number of complaints disposed off : 4
E. AWARDS & ACCOLADES WON DURING THE YEAR Company level
- Your Company has won 4 Prime Minister''s Shram Awards (involving 23
employees) for the year 20I4.
- Your Company has won I5 Vishwakarma Rashtriya Puraskar Awards
(involving 86 employees) for the performance year 20I3.
- Bhilai Steel Plant (BSP), bagged the Prime Minister''s Trophy for the
Best Performing Integrated Steel Plant in the Country for the year
20II-I2, declared in 20I4-I5, for a record IIth time. Chairman, SAIL
and Chief Executive Officer, BSP received the trophy from Hon''ble Prime
Minister Shri Narendra Modi at Rourkela on Ist April, 20I5.
- Your Company won Dainik Bhaskar India Pride Award 20I5-I6 under
Corporate Social Responsibility award category.
- Your Company won CII-ITC Sustainability 20I5 Award for ''Corporate
Excellence - Commendation for Significant Achievement'' in recognition
of its exemplary performance and contribution in the economic, social
and environmental segment.
- Your Company won India Today - MDRA CPSE Best HR Excellence Award -
- Your Company was awarded with the prestigious EEPC India National
Awards for Engineering Export Excellence as the Star Performer for the
year 20I3-I4 in the Basic Iron and Steel - Large Enterprise product
- Town Official Language Implementation Committee (PSU), Delhi under
the Chairmanship of SAIL was been adjudged 3rd in Northern Region for
commendable performance in implementing the Official Language Policy of
the Union during the year 20I4-I5.
- Hindi in-house journal of SAIL ''Ispat Bhasha Bharti'' bagged Shiromani
Patrika Puraskar at town level.
- Your Company was conferred with the first award in the I2th National
Award for Excellence in Cost Management 20I4 under the category of
Public Manufacturing Organization.
- Your Company was awarded India Pride Awards 20I4-I5 for Excellence in
Environment Protection and Conservation by Dainik Bhaskar Group.
- Your Company won BT-STAR PSU Award 20I5 for its R&D and innovations
in the Category of Maharatna and Navratna PSUs.
Bhilai Steel Plant
- CREDA Energy Efficiency & Innovation Award for the year 20I4-I5 in
the category of Integrated Steel Plants under Iron & Steel Sector in
August, 20I5 by Chhattisgarh State Renewable Energy Development Agency
- CII Exim Bank Award 20I5 - ''PRIZE'' for exceptional business
- Golden Peacock Environment Management Award 20I5 in the category of
Steel in July, 20I5.
- NARAKAS, Bhilai-Durg bagged the Rajbhasha Kirti Puraskar in
- Best Rajbhasha implementation award in Central Region for the third
consecutive year in February, 20I6.
- Businessworld HR Excellence Awards 20I5 under award category of Best
Initiative for Connect with Family in recognition of effective
implementation of an Innovative workplace practice Aap Bhi Janiye.
Durgapur Steel Plant
- Greentech Environment Award - Gold for the year 20I4-I5 by Greentech
Foundation, New Delhi in November, 2015.
- CII Exim Bank Award 20I5 - ''Commendation for significant
- Greentech Safety Award 20I5 - Certificate of Appreciation in Metal
and Mining Sector for the year 2014 in recognition of Safety by
- Greentech HR Award 20I5 (Training Excellence) - Silver organized by
Greentech Foundation, New Delhi.
- Ispat Suraksha Puraskar for No Fatal Accident in Rolling Mills during
20I3 & 20I4 by JCSSI.
- Srishti Good Green Governance Award 20I5 - Certificate of
Commendation in recognition of Environment for the year 2013-14
organized by Srishti Publications.
Rourkela Steel Plant
- CII National HR Excellence Award 20I5-I6 (Strong commitment to HR
Excellence) on 15th February, 2016.
- Ist Prize in ''National Energy Conservation Award 20I5'' in Integrated
Steel Plant sector for fiscal year 2014-15.
- 5th Annual Greentech CSR Award 20I5 - Gold Award under the category
Metal & Mining organized by Greentech Foundation in November, 20I5.
- CII Exim Bank Award 20I5 - ''Commendation for significant
- OTV CSR Award in the Water and Sanitation Category for CSR
initiatives in October, 20I5.
Bokaro Steel Plant
- Green-Tech Award - 20I5 to Environment Control Department of BSL from
- CII Exim Bank Award 20I5 - ''Commendation for significant
- Greentech HR Award 20I5 (Corporate Category of Training Excellence) -
Gold organized by Greentech Foundation.
Alloy Steels Plant
- GreenTech Environment Award 20I5 - Gold in Metal & Mining Sector for
outstanding contribution in Environment Management from Greentech
- Ispat Suraksha Puraskar 20I5 for No Fatal Accidents for regular
employees and contract labour separately.
Salem Steel Plant
- SSP won the Ispat Suraksha Puraskar - 20I6 award under JCSSI for
achieving No Fatal Accident during the calendar year 20I5 for regular
employees and contract labour separately.
- National Sustainability Award (First Prize) for the year 20I4-I5 from
the Indian Institute of Metals, Kolkata in Secondary Steel Plants /
Alloy Steel Plants category. SSP has achieved this award for the I8th
time since inception.
Raw Materials Division
- Barsua Iron Mine bagged Ist Prize in Installation & Use of Mineral
Beneficiation Equipments including Crushing & 2nd Prize in Noise,
Vibration & other Scientific Studies in the category of fully
Mechanized Mines in I7th Mines Environment and Mineral Conservation
Week-20I4-I5 held on I7th May, 20I5 at Puri, Odisha under the aegis of
- The mines of RMD have won the following prizes in the Annual Safety
- BOM - Ist Prize in Publicity & Propaganda, Ist Prize in Survey &
Mining Software, Ist Prize in First Aid Trade Test, Ist Prize in
Mechanical Trade Test, 2nd Prize in Illumination, 3rd Prize in General
- GOM - Ist Prize in Mechanical Trade Test, 2nd Prize in Dozer Operator
Trade Test, 2nd Prize in Survey & Scientific Study, 2nd Prize in
Workshop Facilities, 2nd Prize in Statutory Provision & Compliances,
3rd Prize in Overall Performance, 3rd Prize in Publicity & Propaganda.
- BIM - Ist Prize in Workshop Facilities, Ist Prize in Poster, Ist
Prize in Trade Test(Drill), 2nd Prize in Safe Handling of Explosives.
- KIOM - 2nd Prize in Plant & Equipment, 2nd Prize in First Aid Trade
Test, 2nd Prize in Trade Test(Drill), 3rd Prize in Survey & Scientific
Study, 3rd Prize in GVTC.
- MIOM - Ist Prize in Trade Test(Shovel), 3rd Prize in Safe Handling of
Explosives, 3rd Prize in Mechanical Workshop.
Chandrapur Ferro Alloy Plant
- Ispat Suraksha Puraskar under Scheme-II & IV, Group-B (amongst
Special Steel Plants) for achieving No Fatal Accident involving
regular employees and contract labour separately during calendar years
20I3 & 20I4 from JCSSI.
- Ispat Suraksha Puraskar under Scheme II, Group - B (amongst Special
Steel Plants) for achieving NO FATAL ACCIDENT during calendar years
20I3 & 20I4 from Joint Committee on Safety, Health & Environment in the
Research & Development Centre for Iron & Steel
- The BT Star PSU for Excellence in Innovation (Tech/R&D) under
category Maharatna & Navratna.
- 2nd Prize for Best IT Practices of Govt. organizations for the
citizens/ employees and students in Digital India Week - 20I5, Ranchi.
F. ENVIROMENT PROTECTION AND CONSERVATION
As a responsible Corporate Citizen, your Company is committed to
improve its environmental footprint. With determined efforts, the
Company has been able to achieve the best ever environmental
performance indicators, during the Financial Year 20I5-I6. In addition,
efforts for eco-restoration of mined-out areas, greening of warehouses
and other environmental projects have yielded positive results.
Corporate Environmental Vision, Policy and Responsibility
A comprehensive report on Corporate Environmental Vision, Policy and
Responsibility, conceptualised and recommended by the Board Sub
Committee on Health, Safety and Environment, has been approved by the
Board of Directors in January 20I6. As per the approved report, to
achieve the objectives articulated under the strategic action points,
Unit- wise action plans are to be prepared and implemented.
Improvement in Environmental Footprints and Operational Efficiency
The Company''s commitment to comply with applicable environmental
regulations and striving to go beyond, results from concerted efforts
by the SAIL collective towards environmental stewardship and protection
of the environment in and around its operating Units, leading to
consistent improvement in the environmental indices over the years, are
Major Pollution Control facilities installed during the year
- Augmentation of ESPs with Boiler#I, 2 & 5 of the Power Plant-I at
- Sodium Hypochlorite dosing system at the BOD Plant outlet of DSP for
further reduction of cyanide level.
- Cast House De-fuming system at BF#4 at RSP.
- Primary emission control facility with the Converter#5 of SMS-I at
- Revival of the existing dust extraction and dust suppression system
of the Crushing & Screening Plants, both at Dalli (Mech) I/o Mine and
Rajhara Mech I/o Mines. Dust Injection (CDI) facility at BF #2 and
augmentation of CDI facility with BF-3, at DSP
a. Use of Weathered LD Slag as Rail track Ballast
The physical properties of weathered LD slag (WLD Slag) meet the
specification required for stone ballast for use as rail track ballast.
In response to a proposal by the Company, South Eastern Railway (SER)
has agreed to conduct field trials at the Bokaro Rail Yard with the
weathered LD Slag from Bokaro Steel Plant. Field trials in association
with SER has started from June 20I5, at Ispat Nagar Railway Yard,
Bokaro. Inspections of the track parameters are being carried out
jointly by the representatives of SER and SAIL, on monthly basis, which
shall continue for a total period of two years.
b. Use of BF-BOF slag as replacement of natural aggregates (Sand) in
Through regular pursuation/follow-ups with the Bureau of Indian
Standards (BIS), the relevant IS code (IS: 383) has now been amended
(Amendment- III), as a result of which, iron and steel slag can now be
utilised as a replacement of sand upto the extent as has been given in
the amended IS code.
c. Bio-sequestration of CO2
Job has been assigned to M/s. Tropical Forest Research Institute as the
sequestration partner for the project being implemented at Rourkela
Steel Plant. The following activities were completed during the
Financial Year 20I5 -I6:
- Vegetation survey by laying quadrates in and around RSP and in nearby
- Maintenance of plantation of twelve different selected tree species
in the designated site for identification of high carbon sequestering
- Submission of Biodiversity report, Soil Organic Carbon report and
Soil Characterisation report.
Scheduled completion of the project is by March 20I9.
Use of Renewable Energy
- I MW Solar Power Plant has been commissioned. The Power Plant is
connected with the electrical grid system of the State Electricity
- 6 nos. solar water heating systems have been installed at the
Rourkela House and action has been initiated for 90 more such heaters
at the Ispat General Hospital.
- Two nos. of 5 KW capacity Solar Power Packs have been installed and
installation of another seven nos. at various locations (inside and
outside works premises) has been planned.
- A total of 65 nos. Solar Street Lights have been installed at various
locations of the Plant.
Environmental Management System (EMS) linked with ISO- 14001:2004
Implementation of EMS, which is essentially a voluntary initiative, has
become an effective tool in your Company towards protection of the
environment. It has helped the Plants and the Mines to ensure that
their performance remain within the regulatory requirements, and the
ISO I400I accredited Units have been able to minimise environmental
liabilities, maximize the efficient use of resources, reduce wastes,
build awareness of environmental concern among employees, improve
environmental performance through more efficient operations and
demonstrate a good corporate image.
During the Financial Year 20I5-I6, implementation of EMS-ISO I400I:2004
was completed at the following Plants/Units:
- Alloy Steels Plant, Durgapur
- CMO Warehouse at Durgapur Sustainable Development Projects
Bio-diversity Conservation and CO2 Sequestration at Bolani Ores Mine:
- Ecological restoration of 75 acres of de-graded landscape has been
taken up through collaboration with the Delhi University and Ambedkar
University, Delhi. During 20I5-I6 (till end of the assigned time period
i.e., Oct. 20I5), 65,000 saplings and 5,000 seeds of different native
tree species were planted. Also more than 2,500 saplings of fruit
yielding trees were planted to enrich the project site.
- Long term maintenance of ecologically restored 250 acres Lime Stone
mined out area at Purnapani Lime Stone & Dolomite Quarry is a five year
project started in Dec. 20I4 towards sustainability of the restored
ecosystems while providing ecological services and goods to the local
Extensive afforestation programme has been consistently followed in all
the Plants and the Mines over the last few decades. The green belt
developed by afforestation adds not only to aesthetic environment but
also helps in watershed management, soil protection, erosion control
and landslide stabilization. Around 4.67 lakhs saplings were planted in
and around SAIL Plants and Mines during the year 20I5-I6, thus bringing
to a total of more than 195 lakhs saplings since the initiation of such
Other Environmental Efforts
- Continuous Emission Monitoring System (CEMS) and Effluent Quality
Monitoring System (EQMS) have been installed at all the integrated
steel Plants, along with the facility for up-linking of the real time
data for onward visibility by the Central Pollution Control Board
(CPCB) and the respective State Pollution Control Boards (SPCBs).
- Corporate Sustainability Report, 20I4-I5 has been published as per
GRI G4 Guidelines (New Guidelines of GRI) after having been confirmed
by GRI to have successfully completed the GRI content index service and
receiving the organisational mark of GRI.
- For conducting Environmental Compliance Audit cum Consultancy Service
at BSP through an external agency, consultant has been selected during
March, 20I6. This effort is first of its kind to be implemented in an
integrated steel Plant in India.
- SAIL is empanelled with the Delhi Pollution Control Committee (DPCC)
for preparation of adequacy reports for pollution control devices. EMD
inspected and prepared Adequacy Reports for four bus depots of Delhi
Transport Corporation during the Financial Year 20I5-I6.
G. STRATEGIC INITIATIVES OF THE COMPANY
Your Company has adopted a multi-pronged approach that includes organic
growth, brown-field projects, technology leadership through strategic
alliances, ensuring raw material security through acquisition and
development of new mines, diversifying in allied areas, R&D Master Plan
and a Technology Plan. Such a strategy of investing in different areas
will mitigate risk and help in maximizing returns.
Over a span of last few years, SAIL has formed Joint Venture companies
in different areas viz. power generation, rail transportation, slag
cement production, securing supplies of key input raw materials viz.
coking coal (from indigenous as well as imported sources), etc. New
joint venture in the area of production of specialized products to
cater to automotive sector, etc. is being envisaged. The Strategic
Initiatives taken by your Company include the following:
Ultra Mega Steel Project in Bastar Distt., Chhattisgarh : With the aim
to develop large capacity mega steel projects in the Country, which
would help India in achieving the capacity growth of 300 million tonnes
of crude steel by 2025-26, Ministry of Steel has evolved a concept of
developing Ultra Mega Steel Plants. SAIL is participating for setting
up of an Ultra Mega Steel Plant of capacity (3 3) or (4 2) MTPA
(million tonnes per annum) in Bastar, Chhattisgarh. An MoU to this
effect was signed between SAIL, NMDC, Ministry of Steel and Government
of Chhattisgarh in May 20I5 at Dantewada in the presence of Hon''ble
Prime Minister. Definitive Agreements amongst the Parties have been
signed and action has been initiated for identification of suitable
site for the project.
Development of Rail Corridor from Rowghat to Jagdalpur in the State of
Chhattisgarh. : With the aim of bringing about greater socio-economic
development of the backward areas of Bastar region in Chhattisgarh and
to further the industrial progress and mining activities of the region,
an MOU was signed amongst SAIL, NMDC, IRCON and Government of
Chhattisgarh in May 20I5 for development of a rail corridor from
Rowghat to Jagdalpur. The rail corridor with a proposed length of I40
kms would also pass through Narayanpur and Kondangaon in Chhattisgarh.
A Shareholders Agreement (SHA) has been signed amongst the Parties in
January 20I6 and a joint venture company has been incorporated under
the name Bastar Railway Private Limited. Survey work and feasibility
study for Railway line are being undertaken by IRCON.
Automotive steel joint venture in India: SAIL and ArcelorMittal are in
discussions for exploring the possibility for setting up an automotive
steel manufacturing facility under a Joint Venture (JV) arrangement in
India. The two companies signed an MOU on May 22, 20I5 to this effect.
The proposed JV will construct a state-of-the-art Cold Rolling Mill
(CRM) and other downstream finishing facilities in India which will
offer technologically advanced steel products to India''s rapidly
growing automotive sector. The input material for the CRM would come
from SAIL''s new Hot Strip Mill being set up at Rourkela Steel Plant,
with capacity of 3 Million Tonne Per Annum(MTPA). The annual capacity
of the CRM is targeted at I.5 MTPA. A task force comprising
representatives from both SAIL and ArcelorMittal will be completing a
Feasibility Study and Business Model as a part of comprehensive due
diligence for the proposed JV.
Business Excellence Initiatives Enterprise Scorecard
Fifth Enterprise Scorecard of SAIL was prepared for the Financial Year
20I5-I6 comprising of 74 Strategic Objectives; I3 in Financial
Perspective, 9 in Customer Perspective, 29 in Internal Business Process
Perspective and 23 in Organisational Capability Building Perspective.
Enterprise Scorecard not only brings integration with Memorandum of
Understanding with Government of India and Annual Business Plan of the
Company, but also facilitates deployment of the strategy across
organisation through Unit Scorecards and individual Scorecards of top
three leadership levels.
Your Company has adopted European Foundation of Quality Management
(EFQM) Model which is implemented in India through CII-EXIM Bank Award
for Business Excellence. Four Plants of your Company i.e., BSP, DSP,
BSL and RSP participated in the process of CII-EXIM Bank Award for
Business Excellence 20I5. The highlight of this year is BSP crossing
600 Score and receiving PRIZE. Amongst PSUs, BSP is the second PSU Unit
ever to achieve the Prize in 23 years of Award history. All other
participating Plants i.e. DSP, RSP & BSL have scores of more than 500
and have received Commendation Award for Significant Achievement.
Further, all the four Plants have exhibited continuous improvement in
nine Award criteria.
Total Quality Management (TQM)
Most of Plants/Units of your Company are certified to ISO 9000, ISO
I4000, OHSAS I8000 and SA 8000 Management Systems. DSP & BSL have also
implemented ISO 50000 (Energy Management System). DSP in addition has
also implemented ISO 270000 (Information Security System). Some other
Plants/Units have also started implementation of ISO 50000 & ISO 27000.
Following Certifications were achieved during 20I5-I6:
- DSP - First SAIL Unit to achieve ISO : 50000 EnMS certification.
- ISO I4000 EMS & OHSAS I8000 at ASP
- ISO: 50000 EnMS at BSL IT Related Initiatives
Your Company, being a progressive and vibrant organization, has always
believed in keeping pace with the changing times. The old business
models and overall business strategy are being redefined by moving
ahead in innovative usage of Information Technology (IT).
With the objective of bringing in efficiency & transparency in
operations of the Company, SAIL with its consistent efforts has been
able to cover the entire spectrum of business operations under the
sphere of Enterprise Resource Planning (ERP). Four Integrated Steel
Plants at Bhilai, Durgapur, Bokaro and Rourkela and Central Marketing
Organization have already implemented ERP and are reaping its benefits.
ERP implementation at 5th Integrated Steel Plant i.e. IISCO Steel Plant
at Burnpur and at Corporate Office for data consolidation through
integration of data of all Plants/ Units is in progress. A
comprehensive ERP Implementation Roadmap has been finalized for ERP
implementation at other remaining Plants/Units.
The production data has its roots in the strong foundation of
''Manufacturing Execution Systems'' (MES) which has benefitted the Plants
in reducing steel defects, improving order delivery and complete
synchronized data for analysis and optimum utilization of mills.
Hospital facility automation with web-based IT interface has been done
for streamlining procurement of medicines, viewing of on-line patient
medical history, prescription & lab test results.
Continuous efforts are being made for paperless working to promote
''Digital India Initiative''. Systems have been modified for generation
of automatic SMS/e-mail facility for employees, customers & suppliers.
Currently, the Company is working on strengthening Network &
Communication facilities through Video Conference for reduction in tour
& travel expenses.
The Corporate communication activities for the year 20I5 -I6 have been
centered on strengthening the image of ''Brand SAIL'' wherein your
Company employed strategic tools of communication while reaching out to
Your Company participated in a number of high profile events and
exhibitions during the year which included; Make in India Summit, Indo
African Summit, Indian Maritime Summit, Railway Summit, IITF 20I5,
Steel Mart 20I5, Bhopal Vigyan Mela, India Industrial Fair, among
others. These events generated business queries from India and abroad,
which in future may lead to business opportunities for SAIL.
Media features in national and vernacular publications across India
have helped in increasing your Company''s visibility among stakeholders.
The prestigious events - Dedication to the Nation of the modernized &
expanded Rourkela and IISCO Steel Plants by Hon''ble PM - Shri Narendra
Modi have also accounted for tremendous media coverage for SAIL. Your
Company continued to attract attention and interest of international
media such as Platts, metal bulletin, etc.
Your Company identified several sponsorship initiatives of various
important events to enhance the image of SAIL brand and, association of
SAIL brand with worthwhile causes in the interest of national and
Advertisements released by your Company at Plants, Corporate Office and
Central Marketing Organization during the year, have a special focus on
SAIL''s product portfolio. These advertisements were released in leading
publications with high readership and circulation. Similarly radio
jingles created by your Company also have a way of connecting deeply
with core target audiences both in the rural and urban areas.
The Corporate Communications department also regularly holds internal
communication exercises in order to convey thoughts, long term vision &
strategy and expectations of the top management to employees present at
various locations, down to the last man on the shop floor level. Face
to face interactions, video conferences, in house television
programmes, newsletters, e-portal, intranet web alerts, essay and
slogan competition are some of the internal communication tools that
your Company regularly utilizes to convey a message to personnel.
SAIL website has been revamped with a new layout and design-introducing
theme based displays on the days of national and international
importance. An interactive online ''order booking'' feature engaging
with the end user of steel has been added to the SAIL website.
Additionally, your Company''s foray into Digital and Social media has
received widespread attention during the year. Special efforts have
been undertaken to enhance SAIL''s presence on sites such as Facebook,
Twitter, Flickr and Slideshare. Other initiatives of communication of
your Company during the year have been in line with various ongoing
initiatives which include Swacch Bharat Abhiyan, Make in India, and
H. VIGILANCE ACTIVITIES
The objective of SAIL Vigilance is to facilitate an environment
enabling people to work with integrity, efficiency and in a transparent
manner, upholding highest ethical standards for the organization. To
achieve this objective, the Vigilance Department carries out
preventive, proactive and punitive actions with greater emphasis in the
preventive and proactive functions. Following activities were
undertaken during the Financial Year 20I5-I6:
- To increase vigilance awareness amongst employees, vigilance
awareness sessions and workshops were regularly held at various Plants
and Units. A total of I4I workshops involving 2938 participants were
organized for enhancing Vigilance Awareness on Whistle Blower Policy,
Purchase/Contract procedures, RTI Act, Conduct & Discipline Rules,
System and Procedures followed in SAIL, etc.
- Periodic surprise checks including joint checks were conducted
regularly in vulnerable areas of the Company. A total of 2765 periodic
checks including file scrutiny and joint checks were conducted at
different Plants / Units. A saving of approx. Rs.10.12 crores accrued
from the preventive vigilance activities mainly on account of these
- Vigilance provides vital inputs to the operating authorities for
improving the prevailing systems for bringing about more
transparency. Accordingly, eight major System Improvement Projects (SIPs)
were undertaken at different Plants/Units of SAIL.
- I3 cases were taken up for Intensive Examination at different Plants
/ Units. During Intensive Examination, high value procurement /
contracts were scrutinized comprehensively and necessary
recommendations were forwarded to concerned departments for
implementing suggestions for improvement.
- As per the Guidelines of Central Vigilance Commission, Vigilance
Awareness Week was observed in all the Plants and Units during the
period 26.I0.20I5 to 3I.I0.20I5, on the theme of Preventive Vigilance
as a tool of Good Governance.
- The following three (3) thrust areas were identified by
i) Scrutiny of files pertaining to high value projects undertaken at
various Plants / Units, in line with the Guidelines of Chief Technical
Examiner of CVC.
ii) Scrutiny of the contracts awarded on single tender enquiry
(proprietary purchase basis) of value more than Rs 5 lakhs
iii) Surveillance in the areas of receipt, sampling & testing of high
value raw materials
- Certain vulnerable points were identified in the Plants/Units such as
weigh bridges, dispatch and unloading points, entry and exit points for
personnel and goods, places of chemical analysis of received materials,
etc. To monitor these areas closely, CCTV and allied data recording
systems have been installed at these places which would help in curbing
illegal activities at the above vulnerable points.
- After incorporating the suggestions of Vigilance amongst others and
vetting by SAIL Vigilance, revised Recruitment Policy & Recruitment
Manual was issued on I2.05.20I5.
- ''Inspiration- Prerna'', an in-house publication of SAIL Vigilance is
being published regularly. The above publication contains case studies,
articles from eminent personalities, quiz on policy matters, etc. to
enhance awareness of the readers.
The Company has adopted Vigil Mechanism for conducting the affairs in a
fair and transparent manner by adopting highest standards of
professionalism, honesty, integrity and ethical behaviour. All
employees of the Company and Directors on the Board of the Company are
covered under this Mechanism. This Mechanism has been established for
employees to report concerns about unethical behaviour, actual or
suspected fraud or violation of Code of Conduct. It also provides for
adequate safeguards against the victimization of employees who avail of
the Mechanism and allows direct access to the Chairperson of the Audit
Committee in exceptional cases.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
As per the SEBI(Listing Obligations and Disclosure Requirements)
Regulations, 20I5, Management Discussion and Analysis Report covering
the performance and outlook of the Company is attached and forms part
of the Annual Report.
The Statutory Auditors'' Report on the Accounts of the Company for the
Financial Year ended 3Ist March, 20I6 along with Management''s replies
thereon is placed at Annexure-I. The Comments of Comptroller and
Auditor General of India (C&AG) on the accounts of the Company for the
Financial Year ended 3Ist March, 20I6 under section I43(6) of the
Companies Act, 20I3 and the Managements replies thereto are placed at
Pursuant to the direction of the Central Government for audit of cost
accounts, the Company has appointed M/s. Sanjay Gupta & Associates, New
Delhi, M/s. Shome & Banerjee, Kolkata and M/s. R.J. Goel & Co., New
Delhi as Cost Auditor(s) for the Financial Year 20I6-I7.
SECRETARIAL AUDITOR''S REPORT
In terms of the provisions of Section 204 of the Companies Act, 20I3,
the Board of Directors have appointed M/s. Agarwal S. & Associates,
Company Secretaries, as the Secretarial Auditor to conduct Secretarial
Audit of the Company for the Financial Year ended on 3Ist March, 20I6.
Secretarial Audit Report is placed at Annexure-III.
With regard to the observation of the Secretarial Auditor that
composition of the Board of Directors of the Company was not in
compliance with Regulation I7(I) of Securities Exchange Board of India
(Listing Obligations & Disclosure Requirements) Regulations, 20I5
(erstwhile Clause 49(II) (A) & (B) of the Listing Agreement) and Clause
3.I.4 of the DPE Guidelines on Corporate Governance for Central Public
Enterprises, it is stated that appointment of Independent Directors on
the Board of the Company is made by the Company based on nomination by
Government of India. The Company has requested Ministry of Steel,
Government of India for nomination of requisite number of Independent
Directors on its Board.
In terms of SEBI(Listing Obligations and Disclosure Requirements)
Regulations, 20I5, a Report on Corporate Governance and Auditors''
Certificate thereon form part of the Annual Report. In terms of the
SEBI Regulations, the Board has laid down a Code of Conduct for all
Board Members and Senior Management of the Company. The Code of Conduct
has been posted on the website of the Company. All the Board Members
and Senior Management Personnel have affirmed compliance with the Code.
BUSINESS RESPONSIBILITY REPORT
As per Regulation 34(2)(f) of the SEBI(Listing Obligations and
Disclosure Requirements) Regulations, 20I5, the Business Responsibility
Report describing the initiatives taken by the Company from
Environmental, Social and Governance perspective forms part of the
SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES
IISCO-Ujjain Pipe and Foundry Company Limited, a wholly owned
subsidiary of the erstwhile Indian Iron and Steel Company Limited
(IISCO), was ordered to be wound up by BIFR. The Official Liquidator is
continuing its liquidation process.
Your Company has four other wholly owned subsidiary Companies namely,
SAIL Refractory Company Limited (SRCL), SAIL Jagdishpur Power Plant
Limited, SAIL Sindri Projects Limited and Chhattisgarh Mega Steel
Limited. SRCL has taken over the Salem Refractory Unit of Burn
Standard Company Limited on I6th December, 20II and is operating the
same. SAIL Jagdishpur Power Plant Limited, incorporated for setting up
of Gas based power Plant at Jagdishpur and SAIL Sindri Projects
Limited, incorporated for revival of Sindri Unit of Fertilizer
Corporation of India Limited are yet to commence operations pending
relevant approvals. Chhattisgarh Mega Steel Limited which was
incorporated as a Special Purpose Vehicle for setting up of an Ultra
Mega Steel Plant of 6 Million Tonnes per annum as a green field steel
project under Joint Venture is yet to commence operation.
The Annual Accounts of the subsidiary Companies and related detailed
information shall be made available to the Shareholders of the holding
and subsidiary companies, seeking such information at any point of
time. Further, the Annual Accounts of the subsidiary companies are
available for inspection by any Shareholder in the Registered Office of
the Company and of the subsidiary companies concerned during the office
hours between II AM to I PM. A hard copy of the details of accounts of
subsidiaries shall be furnished to the shareholders on receipt of
CONSOLIDATED FINANCIAL STATEMENTS
Pursuant to provisions of Section I29 (3) of the Companies Act, 20I3,
the duly Audited Consolidated Financial Statements are placed at
Annexure-IV. The Statutory Auditors'' Report on the Consolidated
Financial Statements along with the Management''s replies thereon is
placed at Annexure-V. The Comments of Comptroller and Auditor General
of India (C&AG) on the Consolidated Financial Statements of the Company
for the Financial Year ended 3Ist March, 20I6 and the Management''s
replies thereto are placed at Annexure-VI. Further, the statement
containing salient features of the financial statements of the
subsidiary, joint venture and associate companies in the prescribed
Form AOC-I is placed at Annexure -VII.
EXTRACT OF ANNUAL RETURN
The Extract of Annual Return in Form MGT-9 as per the provisions of the
Companies Act, 20I3 and Rules prescribed therein is placed at
During the year, I2 meetings of the Board of Directors of the Company
were held, the details of which are given in the Corporate Governance
Report forming part of the Annual Report.
The Audit Committee of the Board was initially formed by the Company in
I998. The Audit Committee has been reconstituted from time to time in
terms of the SEBI Regulations and Companies Act, I956/20I3. The minutes
of the Audit Committee meetings are circulated to the Board, discussed,
and taken note of. The composition and other details pertaining to the
Audit Committee are included in the Corporate Governance Report.
INTERNAL FINANCIAL CONTROLS (IFCs) AND ITS ADEQUACY
The Company has well established and documented policies and procedures
for ensuring the orderly and efficient conduct of business, including
adherence to various policies and procedures for safeguarding its
assets, prevention and detection of frauds and errors, accuracy and
completeness of the accounting records and timely preparation of
reliable financial disclosures. Further, in order to enable the
Statutory Auditors of the Company to report on adequacy of IFCs as per
the Companies Act, 20I3, the Company has engaged M/s Grant Thornton
India LLP to study the existing framework of IFCs in the Company and
suggest improvement thereon and design a suitable framework for IFCs
covering Financial Reporting and Operational Controls.
First phase of exercise involving Financial and Financial Reporting
Controls including Test of Design and Test of Operating Effectiveness
was taken up in Feb, 20I6 and has been successfully completed by the
Consultant in March, 20I6. Based on the control gaps emerging from Test
of Design and Test of Operating Effectiveness, the Management has
initiated the remedial measures.
Similarly, the Operational Control reporting exercise has been taken up
in the second phase starting from June, 20I6, which, inter alia, covers
review of operational sub areas within the processes viz. Fixed Assets
Management, Financial Reporting, Inventory Management, Order to Cash,
Procurement to Pay, HR & Payrolls, Project & Capital Expenditure, Cash
Management, Production, Shipping & Logistics, Operations and Quality
Assurance, Safety, Security and Environment. Based on the control gaps,
mitigation plan will be drawn by the respective Plant/Unit for
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to Section I34(3)(c) of the Companies Act, 20I3, the Directors
(i) in the preparation of the Annual Accounts, the applicable
Accounting Standards have been followed along with proper explanation
relating to material departures;
(ii) the Directors have selected such Accounting Policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent so as to give a true and fair view of the state of affairs
of the Company at the end of the Financial Year and of the profit or
loss of the Company for that period;
(iii) the Directors have taken proper and sufficient care for the
maintenance of adequate Accounting Records in accordance with the
provisions of the Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities;
(iv) the Directors have prepared the Annual Accounts on a Going-
(v) the Directors have laid down internal financial control to be
followed by the Company and that such internal financial controls are
adequate and are operating effectively; and
(vi) the Directors have devised proper systems to ensure compliance
with the provisions of all applicable laws and that such systems are
adequate and operating effectively.
INDEPENDENT DIRECTORS'' DECLARATION
In terms of section I49(7) of the Companies Act, 20I3, necessary
declaration has been given by each Independent Director stating that
he/ she meets the criteria of independence as provided in sub-section
(6) of Section I49 of the Companies Act, 20I3.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186
The details of Loans, Guarantees, Investments given during the
Financial Year ended on 3Ist March, 20I6 are given in Annexure-IX in
compliance with the provisions of Section I86 of the Companies Act,
20I3 read with Companies (Meetings of Board and its Powers) Rules,
PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES REFERRED
TO IN SUB-SECTION (1) OF SECTION 188
All the contracts / arrangements / transactions entered by the Company
during the Financial Year 20I5-I6, with the related parties were in the
ordinary course of business and on an arm''s length basis. The
transactions with the related parties have been disclosed in the
financial statements. Therefore, particulars of contracts or
arrangements with related parties referred to in Section I88(I) along
with the justification for entering into such contract or arrangement
in Form AOC-2 do not form part of the Report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
In accordance with the provisions of Section I34(3)(m) of the Companies
Act, 20I3 read with Rule 8 of the Companies(Accounts) Rules, 20I4, the
particulars relating to Conservation of Energy, Technology Absorption
and Foreign Exchange Earnings and Outgo are given in Annexure-X to this
RISK MANAGEMENT POLICY
Your Company is conscious and sensitive to the challenges posed to its
business by the events unfolding in global and domestic business
environment including competitors which could give rise to substantive
risks. With this in view, the Company has instituted a robust
Enterprise Risk Management(ERM) System to help the organization to
efficiently manage risk, sustain growth and create value for the
stakeholders. The Risk Management Policy of SAIL was approved by the
Board in August 2009 and since then the risk management has matured in
SAIL. The Policy provides guidance for the management of the business
risks across SAIL. It focuses on ensuring that the risks are
identified, evaluated and mitigated within a given time frame on a
Currently, the architecture of Enterprise Risk Management in SAIL
comprises of a well- designed multilayered organization structure, with
each Plant/Unit having its perceived Risks which are under the constant
monitoring of Risk Owners / Risk Champions who frame and implement the
mitigation strategy and take it to its logical conclusion. Risk
Management Committee (RMC) of the Plants/Units chaired by the Head of
the Plant /Unit, periodically reviews the risks and its mitigation
status and reports the same to Chief Risk Officer (CRO) of SAIL.
Due to the changing operational requirements and greater emphasis on
ERM outlined in the Companies Act, 20I3 and SEBI Regulations and in
accordance with the SEBI Regulations, a SAIL Risk Management Committee
(SRMC) has been constituted. SRMC oversees the Risk Management function
in SAIL by addressing issues pertaining to the policy formulation as
well as evaluation of risk management function to assess its continuing
effectiveness. It also assists the Board in framing and monitoring risk
management systems for the Company and guiding the Risk Policy. It is a
high level committee Chaired by Chairman Audit Committee and has
Independent Directors, Functional Directors, and CEOs of some
Integrated Plants as its Members.
Key risks at Company level and their mitigation plans have been
presented to the Board. These risks along with mitigation plans are
continuously reviewed and monitored by Risk Management Committees at
Plant/Unit level. Communication is being maintained across the
organization regarding Risks and a suitable Risk Response to mitigate
CORPORATE SOCIAL RESPONSIBILITY (CSR)
SAIL''s social objective is synonymous with Corporate Social
Responsibility (CSR). Apart from the business of manufacturing steel,
the objective of the Company is to conduct business in ways that
produce social, environmental and economic benefits to the communities
in which it operates. For any organization, CSR begins by being aware
of the impact of its business on society. With the underlying philosophy
and a credo to make a meaningful difference in people''s lives, your
Company has been structuring and implementing CSR initiatives right
from the inception. These efforts have seen the obscure villages,
where SAIL Plants are located, turn into large industrial hubs today.
CSR initiatives of your Company have always been undertaken in
conformity to the prevalent guiding principles issued by Government
like applicable DPE Guidelines, Companies Act, 2013 and
Companies(Corporate Social Responsibility Policy) Rules, 20I4. SAIL''s
CSR projects are carried out in and around steel townships, mines and
far flung locations across the Country in the areas of education,
providing medical and health care facilities, village development,
access to water facilities, infrastructural development in peripheral
rural areas, environment conservation, women empowerment, assistance to
people with disabilities, sustainable income generation through self
help groups, promotion of sports, art, culture & heritage conservation,
The details of various Corporate Social Responsibility (CSR)
initiatives taken by the Company along with the Report on CSR in
prescribed format are placed at Annexure-XI. The CSR Policy of the
Company is available on SAIL website-www.sail.co.in.
Swachha Bharat Abhiyaan-Swachha Vidhyalaya Abhiyaan: Your Company has
been actively participating in the Swachh Bharat Abhiyan initiated by
the Hon''ble Prime Minister of India. Under the campaign, construction
of 672 toilets falling within the periphery of its Plants & Mines in
the States of Chhattisgarh, West Bengal, Odisha, Jharkhand, Madhya
Pradesh and Tamil Nadu, as allocated to SAIL by Ministry of HRD, were
undertaken and completed. Facilities like squatting units, urinals,
washbasin and overhead water storage have been provided. Apart from
toilet construction, cleanliness campaigns have been undertaken all
across the Organisation. Cleanliness drive is going on at various
locations including the works premises, awareness campaigns are being
run and proper house- keeping is being practiced throughout the
Healthcare: SAIL''s extensive and specialised healthcare infrastructure
provided specialized and basic healthcare to 96 lakh people living in
the vicinity of its Plants and Units during the period 20II-I6.
Surgeries like Cataract and lens implant, cleft lip and palate
disorder, polio-leg correction, etc. are conducted. Treatment of
hearing impaired, anemia and identification & counseling of Sickle cell
& Thalassemia patients, women with gynecological disorders, leprosy &
tuberculosis patients is provided free of cost.
In order to deliver quality healthcare at the doorsteps of the needy,
regular health camps in various villages on fixed days are being
organized for the people living in the periphery of Plants/Units, Mines
and far-flung areas. During the year 20I5-I6, more than 3800 Health
Camps have been organized benefitting over 97,000 villagers. 36 Mobile
Medical Units running in the Plant''s peripheries have benefitted around
one lakh villagers at their doorsteps.
24 exclusive Health Centers at Plants are providing free medical care
and medicines to around I00,000 poor and needy beneficiaries every
year. During 20I5-I6, more than 1.32 lakh villagers have availed free
healthcare at these Health Centers.
Education: To develop the society through education, your Company is
supporting over I45 schools in the steel townships to provide modern
education to more than 55,000 children and is assisting over 636
Government schools in Bhilai and Rourkela with about 75,000 students by
providing Mid-day meals in association with Akshya Patra Foundation.
2I Special Schools (Kalyan & Mukul Vidyalayas) are benefitting over
3600 BPL category students at Integrated Steel Plant locations with
facilities of free education, mid-day meals, uniform including shoes,
text books, stationary items, school bag, water bottles and
transportation in some cases. 335 number of Tribal children are getting
free Education, Accommodation, Meals & Uniforms, textbooks, etc. at
Saranda Suvan Chhatravas, Kiriburu; RTC Residential Public School,
Manoharpur; Gyanodaya Chhatravas, BSP School Rajhara, Bhilai; Kalinga
Institute of Social Sciences, Bhubaneswar; Gyanjyoti Yojna, Bokaro.
Over 2I00 school students have been awarded annual scholarships in
Bokaro Steel Plant has introduced Gyan JyotiYojana scheme for
providing education and holistic development for the children of Birhor
tribe, which is at the verge of extinction. I5 Birhor children were
adopted and provided free education along with boarding, lodging,
nourishing and wholesome food, clothing, free medical treatment, sports
and cultural opportunities in a conducive atmosphere. They are the
first Matriculates and I2th pass from their community. Inspired from
their achievements, another batch of I5 new Birhor children have been
adopted, who are all set to begin their life in new surroundings. For
Skill Development and better employability, 9 Matriculate Birhor Boys
adopted under Gyan Jyoti Yojana have been sponsored for ITI training in
Welder trade alongwith stipend of ''2500/- each, accommodation and
food facility at Bokaro Pvt. ITI.
Women Empowerment & Sustainable Income Generation:Vocational and
specialised skill development training targeted towards sustainable
income generation has been provided during the year 20I5-I6 to 947
youths and I785 women of peripheral villages in areas such as Nursing,
Physiotherapy, LMV Driving, Computers, Mobile repairing, Welder, Fitter
& Electrician Training Improved agriculture, Mushroom cultivation,
Goatery, Poultry, Fishery, Piggery, Achar/Pappad/Agarbati/Candle
making, Screen printing, Handicrafts, Sericulture, Yarn Weaving,
Tailoring, Sewing & embroidery, Gloves, Spices, Towels, Gunny-bags,
Low-cost-Sanitary Napkins, Sweet Box, Soap, Smokeless chullah making,
etc. These activities are being carried out at various centres located
in and around the Plants/Mines locations. Your Company is also
instrumental in marketing of the products manufactured at such centres.
Infrastructure Development in Rural Areas: Over 77.84 lakh people
across 435 villages have been connected to mainstream by your Company
since its inception by constructing and repairing of roads. It has
installed over 7907 water sources during last four years thereby
enabling easy access to drinking water to over 45.96 lakh people living
in far-flung areas.
Environment Conservation: To promote renewable sources of energy, Solar
street lights have been installed in rural areas, Solar Lanterns and
smokeless chullahs have been distributed among the rural people of
Saranda and other locations. Maintenance of parks, water bodies and
botanical gardens in its townships and plantation & maintenance of over
3.85 lakh trees at various locations has also been undertaken. Further,
your Company has also supported setting up and operation of I00 KW
Capacity Solar Power Plant at Jari, Gumla in Jharkhand.
Support to Differently Abled & Senior Citizens: Differently abled
children/ people are being supported through provision of equipments
like- tricycle, motorized vehicles, calipers, hearing aids, artificial
limbs, etc.Your Company supports various schemes and centers at Plants
like Sneh Sampada, Prayasand ''Muskaan at Bhilai, Schools for
blind, deaf & mentally challenged children and Home and Hope at
Rourkela, Ashalata Viklang Kendra at Bokaro, various programs like
Handicapped Oriented Education Program and Durgpaur Handicapped
Happy Home at Durgapur, Cheshire Home at Burnpur. Support has also
been provided to NGOs like TAMANNA, DEEPALAYA, etc. Old age homes are
being supported at different Plant townships like Siyan Sadan at
Bhilai, Acharya Dham and Badshah at Durgapur, etc. Besides, your
Company has also adopted, developed and is maintaining a Lepers Colony
at Kajora through Durgapur Steel Plant wherein all the social and
infrastructure facilities have been maintained.
Sports, Art & Culture and Heritage Conservation: SAIL is regularly
organizing inter-village sports tournaments, extending support to major
national sports events & tournaments. Also, supporting and coaching
aspiring sportsmen and women through its residential sports academies
at Bokaro (football), Rourkela (Hockey) - with world class astro-turf
ground, Bhilai (Athletics for boys), Durgapur (Athletics for girls) and
Kiriburu, Jharkhand (Archery). Musical Instruments were distributed in
6 Peripheral Villages of Gua (Lipunga, Thakura, Guasai, Baihatu,
Jojogutu & Rajabera) to improve the Tribal Culture in Villages.
Cultural events like Chhattisgarh Lok Kala Mahotsav, Gramin Lokotsav
are organised every year. Conservation and maintenance of National
heritage sites such as 5 monuments in the Lodhi Garden at New Delhi,
Ved-vyas of Mahabharat fame historical site in Rourkela, etc. are
supported by your Company.
Disaster Relief: SAIL, as a responsible corporate citizen, supported
the rehabilitation initiatives for the people affected by Natural
Calamities, like flood ravaged in Jammu & Kashmir, Phylin cyclone in
Odisha, Flash Floods in Uttarakhand, etc.
Saranda Forest Development: In an effort to bring the marginalized
masses of the remote forest areas to the mainstream of development,
your Company in association with Government of Jharkhand and Ministry
of Rural Development, Government of India actively participated in the
development process of Saranda forest, Jharkhand. SAIL provided
ambulances, 7000 each of bicycles, transistors, solar lanterns and
established an Integrated Development Centre (IDC) at Digha village in
Saranda forest. IDC comprises of facilities like Bank, Panchayat
Office, Ration shop, Telecom office, Anganwadi Centre, Meeting room,
etc. for the local populace.
Model Steel Villages: In order to bridge the gap between rural and
urban areas and to provide comprehensive development of both physical
and social infrastructure, 79 villages were identified as Model Steel
Villages(MSV) across the Country (in eight States). The developmental
activities undertaken in these villages include medical & health
services, education, roads & connectivity, sanitation, community
centers, livelihood generation, sports facilities, etc. The facilities
developed at these MSVs are being run and maintained regularly.
SAIL''s efforts as a responsible corporate citizen in Nation building
have been recognized by various organizations in the form of awards and
accolades during the year such as Dainik Bhaskar India Pride Award for
CSR ''Greentech Gold Award for CSR-20I5'' for Durgapur and Rourkela Steel
i. During the year, the Company has not accepted any deposits under
the Companies Act, 20I3.
ii. No significant or material orders were passed by the Regulators or
Courts or Tribunals impacting the going concern status and Company''s
operations in future. However, attention of Members is drawn to the
statement on contingent liabilities in notes forming part of the
DIRECTORS AND KEY MANAGERIAL PERSONNEL
- Shri C.S. Verma ceased to be Chairman of the Company w.e.f. I0th
- Shri Rakesh Singh, Secretary to the Government of India, Ministry of
Steel assumed Additional Charge as Chairman of the Company from IIth
June, 20I5 to 30th September, 20I5(A/N).
- Dr. Anup K. Pujari, Secretary to the Government of India, Ministry of
MSME assumed Additional Charge as Chairman of the Company from Ist
October, 20I5 to I0th December, 20I5 (F/N).
- Shri P.K. Singh, has been appointed as Chairman of the Company w.e.f.
- Shri T.S. Suresh ceased to be Director of the Company w.e.f.
- Shri P.K. Das, Prof. Ashok Gupta, Shri Parmod Bindal and Mrs. Anshu
Vaish have been appointed as Independent Directors w.e.f. I8.II.20I5.
- Dr. N. Mohapatra has been appointed as Director w.e.f. 27.II.20I5
- Shri G. Vishwakarma has been appointed as Director w.e.f.
- Shri S.S. Mohanty ceased to be Director w.e.f. 30.06.20I6(A/N).
- Shri Raman has been appointed as Director w.e.f. 0I.07.20I6(F/N).
- Dr. Atmanand and Shri J.M. Mauskar, Independent Directors have ceased
to be Directors w.e.f. I8th July, 20I6 on completion of their tenure.
- Government of India has extended the tenure of Shri A.K. Chaudhary,
Director (Finance) beyond 3Ist August, 20I6 till 3Ist December, 2020
i.e. the date of his superannuation or until further orders, whichever
is the earliest.
The Board of Directors wish to place on record their appreciation for
the support and value contributed by every member of the SAIL family.
The Directors are thankful to the State Governments, Electricity
Boards, Railways, Banks, Suppliers, Customers and Investors for their
continued co-operation. The Directors also wish to acknowledge the
continued support and guidance received from the different wings of the
Government of India, particularly from the Ministry of Steel.
For and on behalf of the Board of Directors
Place: New Delhi
Dated: 11th August, 20I6