RINL clocks turnover of Rs.10,780 crore in H1

Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant has put up an impressive performance during H1 of current fiscal year.

RINL registered a spectacular performance on both production and marketing fronts during April-Sept 2023-24) as the cumulative sale of WRC (wire rod coils) of 3,64,000 tonnes, structural sales of 2,23,000 tonnes and value added steel (VAS) sales 6,82,000 tonnes were the best sales performance achieved for any H-1 since inception.

During the period under review, RINL achieved a sales volume of 1.95 million tonnes and a sales turnover of Rs.10,780 crore in finished steel which registered an impressive growth of 40% and 25% respectively over CPLY (Apr-Sept 2022-23).

Production highlights

Production of 22,81,000 tonnes of hot metal from Blast Furnaces-1 & 2, 11,92,000 tonnes of hot metal from Blast Furnace-2, 2,86,000 tonnes of SBM products, 2,99,000 tonnes of WRM-2 products, 2,91,000 tonnes of products from structural mill, 8,76,000 tonnes of finished steel from the expansion units during the period April-September 2023-24 registered an impressive growth of 16%, 17%, 24%,15%, 19% and 19% growth respectively over the corresponding period last year(CPLY) in 2022-23 and all these are registered as the best-ever production for any H1since inception, RINL stated in a communique.

Appreciating the entire RINL team for its outstanding performance, Atul Bhatt, CMD, RINL said that the dedication and commitment of RINL's workforce have been pivotal to the company’s success. Bhatt expressed confidence that the RINL workforce will continue to excel further to record the best performance in the current Fiscal.

DK Mohanty, Director (Commercial), AK Bagchi, Director (Projects) & additional charge Director (Operations) also lauded the entire RINL team for its efforts towards registering significant performance.