Working Capital Management at Steel Authority of India Limited
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Code : FCF0023
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Region : India
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INTRODUCTION: Rayansh graduated from Indian Institute of Management Bangalore, a premier management institution in India in March 2015 and bagged a job at Steel Authority of India Limited (SAIL). Before his placement interview, he gathered information about SAIL right from financials to details of its various plants located all over the country. He was on his way to join the company on June 1, 2015 and while sitting in the flight he pondered over the thought that the slogan of SAIL, “There’s a little bit of SAIL in everybody’s life”, was so true. From spoons to satellites and from pins to planes, steel was so integrated with people’s lives. During his induction briefing, he was made aware of the salient facts about SAIL. SAIL was accorded the status of “Maharatna ” by the Government of India (GOI) in May 2010. It had had the “Navaratna” status since 1997. It was a public sector enterprise – one of the seven Maharatnas of the country and was India’s largest steel producing company. SAIL comprised 5 integrated steel plants, 3 special plants, and one subsidiary (Refer to Exhibit – I). The company produced iron and steel products of high quality and also boasted of a state-of-the-art Research and Development Center for Iron and Steel (RDCIS). The company was also India’s second largest producer of iron ore and had the second largest network of mines.. |
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