RINL’s value added steel sales hit all-time high in FY24
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Visakhapatnam: RINL during 2023-24 financial year on the marketing front, registered a sale of 7,30,000 tonnes of wire rod coils (WRC) with a growth of 43 per cent over the previous year.
Similarly, during FY24, Value Added Steel (VAS) sales of 13,24,000 tonnes is the best ever sales (Value Added Steel-VAS) for any financial year, since inception, which is 31 per cent of domestic sale and a growth of 37 per cent growth over corresponding period last year respectively.
Inspite of sluggish market, non-availability and high prices of raw materials, RINL registered a sales turnover of Rs 23,129 crore during FY24 registering a growth of 2 per cent over CPLY FY 23.
In order to improve customer satisfaction and also to enhance last mile connectivity, RINL has delivered around 90,000 tonnes of steel on ‘door-delivery basis’ during 2023-24 as compared to 15,000 tonnes during FY23, registering a significant six-fold growth.
In addition to this, RINL also registered an impressive sale of 43,12,000 tonnes of saleable steel (15 per cent growth over CPLY) which includes sale of 7,80,000 tonnes of rounds (10 per cent growth over CPLY). Despite facing various challenges, Rashtriya Ispat Nigam Limited (RINL) registered exceptional performance in the expansion units during the fiscal year 2023-24.
