CMD RINL Expresses Confidence In RINL’s Turnaround

Shri Atul Bhatt emphasizes on collaborative efforts for achieving the turnaround

Addressing senior executives, employees and other stakeholders at the New Year Celebrations held at MP Hall of Ukkunagaram Club, today, Shri Atul Bhatt CMD , RINL said “I am confident that 2024 would be a very promising year for RINL “ .He expressed his strong believe in the potential and commitment of the employees and exhorted them to put their act together to make 2024 a year of turnaround.

Shri Atul Bhatt alongwith Shri DK Mohanty, Director(commercial), Dr. SC Pandey, Director (Personnel) and additional charge Director (Finance), Shri A.M. Haneef, commandant, CISF cut a cake to mark the New Year celebrations.

Speaking on the occasion, Shri Atul Bhatt, CMD, RINL at the outset, conveyed his New Year greetings to all employees, their family members and business associates. “Let us together pledge to make 2024 a turnaround year for RINL” Shri Atul Bhatt gave a clarion call to the RINL collective.

Sharing the RINL’s robust turnaround plan with the RINL collective, Shri Atul Bhatt said that addressing the technical bottlenecks, financial issues and working capital issues, Debt reduction strategies, ensuring Raw material linkages, enhancing the production to 100% capacity utilisation and most importantly alignment of thinking among all the employees will help RINL to come out of this crisis situation.

Exuberating confidence in the RINL team and their spirit and bonding with RINL, Shri Atul Bhatt urged the support of RINL workforce, unions and other business associates to make 2024 at a turnaround year for RINL.

Shri Atul Bhatt thanked the Hon’ble Union Steel Minister, Steel Ministry and the entire RINL workforce for their unstinted support towards RINL’s efforts towards staging a turnaround.

Earlier, Corporate Strategic Management department highlighted about various achievements achieved in the 2023 year through a power point presentation.

At a program held later in the evening, Shri Atul Bhatt, CMD, RINL along with other dignitaries released “A trilingual annual in-house newsletter UKKUVANI “which carries stories of the major events/Achievements /Highlights etc., during the year 2023, A “Field Book “(Note Pad) and a Calendar designed and published by Corporate communications department.

It may be noted that RINL could register impressive performance on the production and marketing fronts during the period April-December, 2023. On the Marketing front, RINL achieved a sales turnover of Rs. 16,766 Crores and registered an impressive 21% growth in sales volume, 23% in domestic sales and 47% in sale of Value Added Steel. On the sales front, RINL also registered an impressive growth of 18% in TMT bars, 57% in Wire rod coils, 19% in sales of Structurals over the corresponding period, last year

On the production front, RINL’s Crude Steel production crossed 100 Mt landmark since inception in June’2023, Hot Metal production from BF-2 crossed 50 Mt Landmark on 25th Oct, Converter Lining life of 9266 heats from Converter-D of SMS-2 are the best, since inception.

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