Steel Authority of India Limited (SAIL)
Steel Authority of India Limited (SAIL) is a government owned steel manufacturing enterprise based in New Delhi, India. It was established in 19 January 1954. It is under the ownership of Ministry of Steel, Government of India. SAIL is the 20th largest steel producer in the world and the largest in India. The Hot Metal production capacity of the company will further increase and is expected to reach a level of 50 million tonnes per annum by 2025. SAIL produces iron and steel at five integrated plants and three special steel plants, located principally in the eastern and central regions of India and situated close to domestic sources of raw materials. SAIL manufactures and sells a broad range of steel products. The Government of India owns about 65% of SAIL’s equity and retains voting control of the Company. However, SAIL, by virtue of its ‘Maharatna’ status, enjoys significant operational and financial autonomy.
The inspiration of CSR strategy is linked to the core function of the company. The dominant paradigm underlying SAIL is centred on the idea of creating “shared value” focussing the Triple Line Bottom approach (People, Planet & Profit). The thrust of CSR is clearly on empowerment of communities, inclusive socio-economic growth, environment protection, promotion of green and energy efficient technologies development of backward regions, and upliftment of the marginalized and underprivileged sections of the society.
SAIL is committed to continuously promote Sustainable Development encompassing environmental, societal and economic aspects related to its business activities. As an environmentally conscious corporate all the plant and mines are operating without disturbing the ecological balance and also within the ambit of notified environmental standards with respect to air emission, water discharge and noise pollution.
Covid-19 response
SAIL has activated a scaled response towards management of CoVID-19 at its Plants/Units and Townships. SAIL contribution in COVID-19 by providing 330+ isolation bed, 600+ quarantine facility, Massive Anndan at all plant and unit locations and Distribution of homemade masks in the township. SAIL donated 30 Crore to PM CARES Fund and 9 Crore contribution of 1-day salary by employees to PM Cares fund and Contributed Rs 1 Crore each, amounting to Rs 4 Crore, to the CM Relief Funds of Jharkhand, Odisha, Chhattisgarh and West Bengal.
Their shareholding pattern consists of Promoters and Promoter Group having 65% of shares, Public having 14.36% shares, Government having 0.08% following by FII’s having 5.01% shares and DII’s with 15.56% shares.
