Soma Mondal, a lady who will be now taking over the reins of the state-runned Steel Authority of India which is known as the SAIL. She is going to be the first woman chairperson on 31st December, Friday, they will also have multiple tasks at hand. Paring with the dept of the company from the current level which was around to Rs 50,000 crore, and improving it and operating with the margins and the productivity of the employee and also setting the journey right for the targeted doubling capacity to around 50 million tonne per annum which is the mtpa in the 10 years are now more likely to be among her priorities.
The saving elegance for the new chairperson, who is currently the director – commercial of the company , however it is the sharp rise in the prices of the steel that was on the back of higher demand and also on the iron ore supply shortage. SAIL, however from both it’s ends meets all its iron ore requirements that it needs from the captive sources.
Linked with market of the buoyant steel that is holding the prices at 12-year high, the stocks of the SAIL stocks are now remaining on one place at near to about 52-week high in the BSE.
Another worry that was coming in sight is the long-pending wage revision of the company. The Non-executives of the company, who are in a majority, are also waiting since past 5 years till now for the wage; while the executives are also waiting for a revision since the year 2017.
A section of the employee of the SAIL union has already conveyed for their displeasure that took over the issue to the Mondal, but they also assured full support to the new chairperson and in her endeavour so that she can help and take the company to a greater height.
The current holder who is Anil Kumar Chaudhary and who was retiring on 31st December for attaining the age of the superannuation, that was after taking over the charge two years ago. He had done a commendable job and he helped in turning the fate of the company around and coming up with some brave initiatives that was including offering employees for the sabbatical leave, after the two successive years of profit that they got and even as SAIL was getting losses during the previous three years that was starting from the year 2016.
Who had a long experience and was also working in the metal sector and Mondal who had joined SAIL in the year 2017 from another state-run firm Nalco and also as its director commercial. He had graduated from National Institute of Technology-Rourkela in the field of electrical engineering from the year 1984, after that she working in Nalco and began her career.
Jayanta Roy who is the Senior Vice – president of the ICRA said that with the domestic steel capacity that is likely to double over the next decade, and also as per the 300 MT capacity and by the target that was set by the government, the company too has set a proportionate target for itself. The challenge, however for them would be to get and maintain a balance between funding the large expansion and also maintaining a conservative capital structure.