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Key Points

SAIL has been accredited as an Authorised Economic Operator (AEO) Tier II, reinforcing its trade compliance and supply chain reliability. The certification, granted by CBIC, offers benefits like faster customs clearance and reduced inspections. This comes after SAIL reported an 11% rise in Q4 net profit and announced a dividend of Rs 1.6 per share. The move strengthens SAIL’s position in global trade with improved efficiency and security.

Key Points: SAIL Secures AEO Tier II Accreditation for Trade Benefits

  • SAIL receives AEO Tier II from CBIC
  • Faster customs clearance and reduced inspections
  • Enhances global trade credibility
  • Follows strong Q4 profit growth
2 min read

SAIL gets accreditation for Authorised Economic Operator

SAIL earns Authorised Economic Operator Tier II status, boosting trade efficiency and supply chain security with expedited customs clearance.

"This certification gives SAIL a competitive edge with improved supply chain security and international recognition. – SAIL Statement"

New Delhi, June 10

Public sector giant Steel Authority of India Limited (SAIL) announced on Tuesday that it has received the accreditation for the Authorised Economic Operator (AEO), Tier II from the Directorate of International Customs.

Recognised globally, this accreditation serves as a testament to an organisation’s commitment to compliance, integrity and supply chain security and helps in trade facilitation. AEO certification, issued by the Central Board of Indirect Taxes and Customs (CBIC), grants businesses specific benefits, including expedited customs clearance and reduced inspection requirements.

The AEO programme aims at fostering a secure and efficient trading environment in international trade. It is a trade facilitation move wherein benefits are extended to entities that have demonstrated strong internal control systems and a willingness to comply with the laws administered by CBIC.

The certificate was received by the Executive Director (Logistics & Infrastructure) on June 9 from the Principal Commissioner, Directorate of International Customs, New Delhi. This certification would give SAIL a competitive edge along with advantages like improved supply chain security, international recognition and access to knowledge sharing and networking opportunities, the SAIL statement added.

An Authorised Economic Operator (AEO) is a voluntary compliance program that recognises businesses as secure and reliable trade partners. It aims to enhance international supply chain security and facilitate legitimate trade.

SAIL recorded an 11 per cent rise in its net profit for the January-March quarter of the financial year 2024-25 at Rs 1,251 crore, compared to Rs 1,126 crore in the same quarter a year ago.

The Maharatna public sector undertaking's revenue from core operations rose 4.8 per cent to Rs 29,316 crore in the fourth quarter of the 2024-25 fiscal year, compared year-on-year with Rs 27,958 crore in the same quarter of the previous financial year.

Steel Authority of India's board of directors have announced a final dividend issue of Rs 1.6 per share for the financial year ending 2024-25 of the face value of Rs 10 apiece.

This means that every eligible shareholder will receive a final dividend of Rs 1.6 per share for every share they own in the state-owned steel giant.

- IANS

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Reader Comments

R
Rajesh K.
Great news for SAIL and Indian steel industry! 🇮🇳 This AEO accreditation will boost our exports and make Indian steel more competitive globally. Hope other PSUs follow suit. The 11% profit rise is cherry on top!
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Priya M.
While this is positive, I hope SAIL uses this opportunity to improve its operational efficiency further. Sometimes PSUs get complacent after such achievements. The dividend of ₹1.6/share seems modest compared to private steel companies.
A
Amit S.
As someone working in logistics, I can say AEO Tier II is a big deal! Faster customs clearance means steel reaches projects on time. This will help infrastructure development across India. SAIL deserves praise for this milestone.
S
Sunita R.
Good to see our public sector companies performing well. But I wish SAIL would focus more on environmental sustainability too while expanding operations. Steel industry needs green initiatives alongside business growth.
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Vikram J.
This shows Make in India is working! SAIL getting global recognition is a proud moment. Hope this translates to more jobs and better quality steel for domestic market too. Jai Hind!
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Neha P.
The financial results look promising. As a small investor, I'm happy with the dividend announcement. But I hope SAIL continues to innovate - we need to compete with Chinese steel in international markets.

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