SIFL marks record turnover of Rs 66 crore

The Steel and Industrial Forgings Ltd (SIFL), a State government-owned public sector undertaking under the Department of Industries, has marked a record turnover of Rs 66.2 crore for the financial year 2022-23, which is 23% higher than the revenue recorded in the previous fiscal. According to SIFL managing director P. Suresh, increase in commodity prices coupled with increased cost of logistics and other inputs had a significant impact on margins this year. These measures were successfully mitigated through cost reduction and price support from customers.