Shares of state-owned Steel Authority of India Ltd (SAIL) are expected to attract attention on Friday following the company’s announcement of a partnership with the Indian subsidiary of John Cockerill Group to implement green technologies in iron and steel production.
The collaboration marks a key step in SAIL’s commitment to modernizing traditional steelmaking practices with advanced, sustainable technologies.
The Memorandum of Understanding (MoU) was signed between SAIL and John Cockerill India Ltd (JCIL), the company confirmed in a statement.
“The focus areas of this collaboration will be cold rolling and processing for carbon steel, green steel, and silicon steel, specifically CRGO (cold rolled grain-oriented) and CRNO (cold rolled non-oriented) steels,” SAIL said in a statement.
The partnership also aims to integrate advanced steelmaking technologies to improve efficiency and promote sustainability.
SAIL reported a 31% decline in consolidated net profit for the September quarter of FY25, falling to Rs 897.15 crore, down from Rs 1,305.59 crore in the same period last year. The drop in profit was primarily due to lower income, as per the report.
Total income for the quarter decreased to Rs 24,842.18 crore from Rs 29,858.19 crore in the corresponding quarter of the previous financial year. The expenses also fell to Rs 23,824.07 crore from Rs 27,768.60 crore in Q2 FY24.
SAIL’s standalone crude steel production during the quarter was 4.80 million tonnes (MT), a slight increase from 4.76 MT in the same period last year.