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Wednesday, February 28, 2024

Meet the Steel Woman who helped SAIL hit record turnover: Soma Mondal

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As Soma took charge for the role of Chairman of SAIL on January 1, 2021, she became the organization’s first female CEO.

Soma Mandal, Chairperson of SAIL, is unafraid of her position. For her, the terms chairman and chairperson are interchangeable. As Soma assumed the role of Chairman of SAIL on January 1, 2021, she became the organization’s first female CEO. Surprisingly, the organisation has grown tremendously under her guidance.

During 2021-22, Steel Authority of India Ltd (SAIL) produced 18.733 million tonnes of hot metal and 17.366 million tonnes of crude steel, its best-ever output.

Soma addressed the shareholders virtually during the 50th Annual General Meeting that SAIL had joined the elite club of Indian firms with a turnover of more over Rs 1 lakh crore for the first time.

The company’s sales of Rs 1.03 lakh crore in 2021-22 was a more than 50% increase over the previous highest turnover of Rs 68,452 crore in 2020-21.

According to Soma Mondal, the rise in turnover, along with increased operational performance, enabled the firm to attain its highest-ever profitability figures.

Soma is an electrical engineering graduate from NIT Rourkela who comes from a Bengali family in Bhubaneshwar.

She began her career as a trainee with NALCO in Bhubaneshwar in 1984 and rose through the ranks to become Director (Commercial) in 2014. She joined SAIL in 2017 and became the organization’s first female director.

At SAIL, she was in the forefront of implementing marketing strategies based on the Company’s Complete Turnaround Plan, which contributed to increased sales and market expansion for SAIL goods.

Soma was instrumental in developing tactics for promoting various items and building the distribution network. She was important in the creation of two new brands, NEX and SAIL SeQR.

Since her appointment as chairman last year, the firm has grown steadily. Notably, it was pointed out that the corporation “meet its entire need of iron from its captive sources. The captive mines of SAIL generated about 30.06 million tonnes (MT) of iron ore.”

Soma was elected Chairman of the Standing Conference of Public Enterprises (SCOPE) for a two-year term in March 2021. The Central Public Sector Enterprises are represented by SCOPE (CPSEs).

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