In Search Of Lost Glory
Business Today|June 16, 2019

Once the undisputed leader, SAIL has been outrun by private sector peers JSW and Tata Steel. But the rejuvenated steelmaker is back in the black and eyeing the top spot.

Sumant Banerji
In Search Of Lost Glory
BARELY TWO WEEKS after he had taken over as the Chairman of India’s largest state-run steel company, 58-year-old Anil Kumar Chaudhary was staring at a major crisis. On October 9, 2018, an explosion at the Bhilai plant, the largest production unit of Steel Authority of India (SAIL), killed 14 workers. The blast occurred in a gas pipeline connected to the coke oven section of the plant during a maintenance job. It was not a one-off incident, though. On May 24, there was a minor fire at the Bhilai plant, though no one was injured. In June 2014, six people, including two deputy general managers, had died in that factory due to gas leakage. In a career spanning over three decades in the public sector company, Chaudhary’s tenure at the top started on a troubled note.

“It was really unfortunate... and I had to face it soon after I took charge. But we have become more careful now. We are doing whatever lies within our realm so that not even a single fatality happens at SAIL in the future. All our plants have been given strict instructions that no production will happen at the cost of safety,” he says.

Will Tailwinds Help?

If the Bhilai incident was baptism by fire, the new chairman has seen a lot of tailwinds as well. For instance, in spite of the tepidness around last year’s festive season that impacted consumer-centric sectors, domestic demand for steel was on the rise, pushing prices up considerably. During April-January 2018/19, India’s consumption of total finished steel stood at 79.98 million tonne (MT), a 7.8 per cent increase over the year-ago period, according to provisional data released by the Joint Plant Committee. The dark days of big imports (of cheap steel) and commodity dumping by China are no longer plaguing the industry. Better still, SAIL’s financial health seems to be on the mend.

This story is from the June 16, 2019 edition of Business Today.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the June 16, 2019 edition of Business Today.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM BUSINESS TODAYView All
"Moving to cloud helped us grow❞
Business Today India

"Moving to cloud helped us grow❞

What was the problem you were grappling with?

time-read
1 min  |
November 24, 2024
She's Got Time
Business Today India

She's Got Time

MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP

time-read
3 mins  |
November 24, 2024
RISING STAR
Business Today India

RISING STAR

PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.

time-read
1 min  |
November 24, 2024
Building on a Legacy
Business Today India

Building on a Legacy

WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.

time-read
1 min  |
November 24, 2024
LEADER IN INNOVATION
Business Today India

LEADER IN INNOVATION

AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.

time-read
1 min  |
November 24, 2024
WAITING IN THE WINGS
Business Today India

WAITING IN THE WINGS

Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025

time-read
1 min  |
November 24, 2024
A DECENT PROPOSAL
Business Today India

A DECENT PROPOSAL

IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?

time-read
5 mins  |
November 24, 2024
Women and the STEM Bias
Business Today India

Women and the STEM Bias

EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.

time-read
3 mins  |
November 24, 2024
ROCKET WOMEN
Business Today India

ROCKET WOMEN

WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.

time-read
6 mins  |
November 24, 2024
ONE STEP FORWARD
Business Today India

ONE STEP FORWARD

THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.

time-read
6 mins  |
November 24, 2024