A STUDY ON FINANCIAL PERFORMANCE OF SELECTED PSU STEEL COMPANIES

Abstract

With an output of 9.8 MT in October 2021, India was the second-largest producer of crude steel in the world. FY21 had a 102.49 MT of crude steel production, while the finished steel output was at 94.66%. India's crude steel output is expected to rise by 18 percent in FY22, to 120 million tonnes, due to increased demand from consumers. The availability of iron ore and low-cost labour in India has been a major driver of the steel industry's expansion in India. As a result, India's manufacturing output has benefited greatly from the steel industry. Modern steel mills in India's steel industry are state-of-the-art. It has always sought to improve the energy efficiency of its older facilities and modernise them. Primary, primary, and secondary producers all fall under the umbrella term "Indian steel industry." An analysis of financial data for the years 2016-17 to 2020-21 has been carried out by the researcher in this study.