RINL Soars To New Heights : Impressive Sales And Production Triumphs Define 2023-24 Financial Year
Despite facing various challenges, RINL Shines on Production front too
RINL during 2023-24 Financial Year (FY) on the marketing front, registered a sale of 7,30,000 tons of Wire Rod Coils (WRC) ( a growth of 43% over corresponding year, last year-CPLY ) and 5,08,000 tons of Structurals (a growth of 11% CPLY) “which are the respective Best Ever sales for any Financial year, since inception”.
Similarly, during 2023-24 FY, Value Added Steel (VAS) sales of 13,24,000 tons is the “Best Ever sales (Value Added Steel-VAS) for any Financial year, since inception” which is 31% of domestic sale and a growth of 37% growth over CPLY, respectively”.
Inspite of sluggish market, non-availability and high prices of raw materials, RINL registered a sales turnover of Rs.23,129 Crs during 2023-24 FY registering a growth of 2% over corresponding period last year (CPLY 2022-23 FY).
In order to improve customer satisfaction and also to enhance last mile connectivity, RINL has delivered around 90,000 tons of steel on “door-delivery basis” during 2023-24 FY as compared to 15,000 tons during CPLY-2022-23 FY, registering a significant “6 fold growth”.
In addition to the above, during 2023-24 FY, RINL has registered an impressive sale of 43,12,000 tons of Saleable steel( 15% growth over CPLY) which includes sale of 7,80,000 tons of Rounds (10% growth over CPLY).
RINL Shines on Production front too:
Despite facing various challenges, Rashtriya Ispat Nigam Limited (RINL) registered exceptional performance in the Expansion units during the fiscal year 2023-24. Leveraging the availability of crucial raw materials, RINL has surpassed all expectations, setting new benchmarks in production.
RINL, during the 2023-24 FY, achieved a total production of 17,39,943 tons from the Expansion units which includes 5,43,942 tons from the Special bar mill, 6,15,588 tons from Wire Rod Mill-2(WRM-2), 5,80,413 tons from the Structural mill which are the “Best production levels ever achieved by the respective production units, since inception”, highlighting RINL’s commitment to excellence and continuous improvement.
In addition to the above, RINL during 2023-24 FY, has also registered an impressive production of 47 lakh tons of Hot Metal and 46 lakh tons of Liquid Steel registering an impressive growth of 7% over the Corresponding period last year(2022-23 FY).
In a significant milestone, RINL has surpassed a total Liquid Steel Production of 110 million tons during 2023-24 FY since its inception, reaffirming its position as a leader in the industry.
In addition to the above, production from Wire Rod Mill-2 (WRM-2) “has exceeded its Yearly Rated Capacity for the First time, since inception”, further underscoring RINL’s capacity for growth and efficiency.
Mr. Atul Bhatt, Chairman-cum-Managing Director of RINL, commended the perseverance, commitment, and dedication of the entire RINL workforce for their outstanding performance during the 2023-24 fiscal year. He expressed his gratitude to all employees for their tireless efforts in achieving these remarkable milestones, reaffirming RINL’s commitment to excellence and sustainable growth.
RINL remains steadfast in its mission to contribute to India’s industrial development while upholding the highest standards of quality, innovation, and corporate responsibility.
