RINL registers sales of ` 20,844 cr

Visakhapatnam: RINL Chairman-cum-Managing Director PK Rath said that the company registered a strong performance by recording the highest sales turnover of Rs 20,844 crore during the just concluded 2018-19 fiscal, representing an impressive growth of 25 per cent over CPLY of Rs 16,625 crore.

Addressing senior officers of the company in Ukkunagaram on Monday, Rath highlighted the overall improvement in performance of company and mentioned that RINL achieved 5.77 million tonnes of hot metal, 5.52 MT of liquid steel and 5 million tonnes of saleable steel, representing a growth of 12 per cent, 11 per cent and 11 per cent respectively. The company also achieved a growth of 13 per cent in total power generation and 8 per cent in labour productivity.

The CMD informed that the company achieved a gross margin of Rs 1,700 crore during the year, a growth of 400 per cent over CPLY. He said that the Coke Oven Battery-5, Forged Wheel Plant at Rae Bareli, Twin ladle Furnace are ready for early commissioning in the first half of the current year. P Raychaudhury, Director (Commercial), KC Das, Director (Personnel), VV Venugopal Rao, Director (Finance), PJ Vijayakar, CVO and other senior officers were present.

On the commercial front, RINL achieved a 22 per cent growth in high-end Value Added Steel, development of niche products, 22-mm spring steel for railways and spring steel flats for automobiles. RINL also commenced international operations at Colombo. Vizag steel products are continued to be used in national projects including Polavaram, Statue of Unity, Rohtang Tunnel, Metro Rail Projects and construction of AP capital – Amaravati.