the Company alongwith the Audited Statement of Accounts for the Financial Year The Company has an adequate system of internal control which fosters reliable financial reporting, .. 30, during the year FINANCIAL REVIEW After witnessing a worldwide downturn in all spheres of business including in the steel industry in second half of , your company. 'Maharatna' to Steel Authority of India (SAIL) through a memorandum DPE . Source: Annual Reports of SAIL.


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Extensive forestation programme has been religiously followed in all the Plants and Mines over the past few decades. Bhagvati Ana Labs Pvt.

Where SAIL's profits come from

New initiatives are currently being explored in areas such as outsourcing of power distribution and educational facilities in SAIL townships, forged roll manufacturing, etc.

Sail annual report 2008-09 status of Strategic Initiatives taken by your Company in the recent past includes the following: Boston Consulting Group BCGone of the top global consulting firm, covering improvements for all functions in the Plants and Units, while reviewing and sharpening our business strategy and processes.

BCG shall study the present health of the Company and suggest suitable measures for its turnaround. The "SAIL Uday" initiative is expected to drive the Company towards profitability as well as build for sustained sail annual report 2008-09 leadership. This rail corridor shall be used for both freight and passenger services in the Southern part of Chhattisgarh.

JV with ArcelorMittal for production of automotive steel: In line with Make in India programme of Govt. The proposed JV will construct a sail annual report 2008-09 Cold Rolling Mill CRM and other downstream finishing facilities in India that will offer technologically advanced steel products to India''s rapidly growing automotive sector.

Based on the outcome of Joint Study, definitive agreements for setting up the JV Company shall be entered into.

Ultra Mega Steel Project: With the aim to develop large capacity mega steel projects in the Country, which would help India in achieving the capacity growth of million tonnes of crude steel, Ministry of Steel has evolved a concept of developing Ultra Mega Steel Plants. MECON has submitted a report for probable sites for the sail annual report 2008-09 plant.

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Activities related to land acquisition, land development, etc. In steel arena, BSP has been the only steel maker ever to have achieved this coveted distinction twice in a row.

Following Certifications were achieved during The Certification Agencies for four Management Systems i. The system resulted in reduction in sail annual report 2008-09, reduction in audit man-days, ease of operation in engaging Certification Agencies, improved quality of audits and reduced administrative hassles.


Second cycle of empanelment for three years has been completed with an extended scope which includes Management System related to training, in addition to the Certification for the Management Systems mentioned above.

IT Related Initiative Your Company has embarked upon various Information Technology IT initiatives, duly aligned with its business goals and vision to maintain its competitive position in the marketplace.

Sail annual report 2008-09 staff grievances received during the Financial Year with 1 grievance pending from previous year, staff grievances have been disposed off during the year, achieving Total grievances have been disposed off during Financial Yearthereby achieving fulfillment rate of All the grievances have been disposed off within 30 days of its receipt against the stipulated time of 60 days.

In aforementioned pay revision, variable pay in the form of Performance Related Pay PRP has been introduced for executives.

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The last NJCS agreement sail annual report 2008-09 finalized and signed on In terms of notification issued by the Government of India, the provisions of section of the Companies Act, are not applicable to Government Companies.

As such, the disclosures to be made in the Board''s Report on the remuneration of Directors and other prescribed details are not included in this Report. Therefore, SAIL has contributed to the overall development of civic, medical, educational and other facilities in these regions.

Some of the contributions are: This has created opportunities for local unemployed persons for jobs and development of entrepreneurship.


The facilities provided include free education, mid-day meals, uniforms including shoes, text books, stationery items, school bags, water bottles and transportation in some cases.

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