The RINL-Visakhapatnam Steel Plant joined the Nation in celebrating the 77th Independence Day with patriotic fervour and gaiety at RINL.
Shri Atul Bhatt, CMD, RINL hoisted the National Flag and took the salute accorded by the CISF Jawans at the sprawling Trishna Grounds in the Ukkunagaram, today.
Addressing the employees and their family members on the occasion, Shri Atul Bhatt extended his warm Independence Day greetings to all the employees of RINL,their family members, to the members of CISF, Home Guards and Principals, Teachers and students of different schools, Suppliers, Customers, Partners, Stakeholders and each one of our well-wishers who have been associated with RINL in its long journey.
Speaking on the occasion, Shri Atul Bhatt, CMD, RINL said that given the background of global and domestic steel demand, RINL is firmly on the path of recovery and during the period, RINL concentrated on re-orientation of strategies to optimize product mix and concentrate on niche markets and high-end value-added products. RINL made remarkable strides with some significant achievements.
Highlighting RINL’s performance during the period April-July of the current fiscal 2023-24, Shri Atul Bhatt said that the cumulative Hot Metal production of Rs.14.74 lakh tons is 7% higher than corresponding period last year (CPLY -2022-23). The cumulative Finished Steel production of 11.23 lakh tons is 21% higher than CPLY. The cumulative High-End Value-Added production of 5.03 lakh tons is 71% higher than CPLY. On a cumulative basis, Sales Turnover of Rs.7,183 Cr was achieved, which registered an impressive growth of 23% over CPLY.
During the month of July,2023, the High-End Value-Added production of 1.65 lakh tons and sales of 1.30 lakh tons achieved are the best for any month, since inception, informed Sri Atul Bhatt amidst thunderous applause from the audience. Sales Turnover of Rs.1,927 Cr was achieved in the month July, 2023, registered an improvement of 5% over previous month, Sri Atul Bhatt added.
Highlighting about various alternatives which are being worked out to bring RINL out of the present cash crisis, Shri Atul Bhatt said that NITs(notice inviting tender) were issued inviting offers for being Trade Partners and for supply of raw materials and take back blooms with a conversion cost. The offers are under different stages of negotiation.
Shri Atul Bhatt said that in spite of the adversities, RINL has continued to excel and has been recognized with a number of awards, significant amongst them being: “GreenTech Safety Award 2023” under Safety Excellence Category for outstanding contribution in improving the workplace safety in the year 2022-23, First Position under the category ‘Manufacturing Public Mega’ in the 18th National Awards for Excellence in Cost Management-2022, First prize in ”Ispat Raajbhasha Samman” for best implementation of Hindi during the year 2021-22 in the meeting of Hindi Advisory Committee of Ministry of Steel held at Srinagar on 25th Apr’23.
Complimenting the entire RINL collective for their commitment, Shri Atul Bhatt urged them for high levels of self-discipline, both at the technological and personal level; cost consciousness; focused efforts towards customer delight; and optimum utilization of various resources through well-orchestrated conservation efforts and collaborative approach of trust and faith to put RINL back on the track of profitability.
“To bring RINL back to profitability in next three months, all the employees including myself and Directors took turnaround pledge on 01/08/2023 to dedicate ourselves towards the turnaround pledge which includes increase in output by a minimum of 20%, reduction in cost by a minimum of 10% and initiatives in Materials Management, Marketing and HR functions”, Shri Atul Bhatt added.
RINL is pursuing the restart of Blast Furnace-3 in Aug’23, Sri Atul Bhatt informed. and the Company is actively pursuing the same.
Shri D. K. Mohanty, Director (Commercial), Shri A. K. Bagchi , Director (Projects) & Addl. Charge, Director (Operations), Dr. S. C. Pandey , Director (Personnel) & Addl. Charge, Director (Finance), Dr. S. Karuna Raju, IAS., Chief Vigilance Officer(CVO), Shri Attar Mohammed Haneef, Commandant (CISF), Smt. Nupur Bhatt, President, Visteel Mahila Samithi, Senior Officers, Representatives of the Unions, Steel Executive Association, SC & ST Association, OBC Association, WIPS and a large number of employees have attended the Independence Day celebrations.