HomeSteel & CommoditiesRINL registers sales turnover of Rs.23,129 Crs

RINL registers sales turnover of Rs.23,129 Crs

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RINL which operates the Vizag Steel Plant, clocked its best ever sales of wire rod coils, structurals (steel variety) and value added steel (VAS) in the fiscal 2023-24.

On the marketing front, VSP sold 7,30,000 tons of Wire Rod Coils (WRC) 5,08,000 tons of Structurals and 13,24,000 tons Value Added Steel (VAS), the Best Ever sales of these varieties for any Financial year, since inception, stated a release.

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 FY 2023-24  as compared to 15,000 tons during CPLY- FY 2022-23, registering a significant “6 fold growth”.

In addition, during FY 2023-24, 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).

Despite facing various challenges, Rashtriya Ispat Nigam Limited (RINL) registered exceptional performance in the Expansion units during the fiscal year 2023-24. 

Surpassing all expectations, setting new benchmarks in production, RINL, during the FY 2023-24, achieved a total production of 17,39,943 tons from the Expansion units which includes over 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 this, 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.

Lauding this outstanding performance during the 2023-24 fiscal year, RINL CMD Mr. Atul Bhatt 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, Mr. Bhatt added.

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