Calls on employees to turnaround RINL in 2024
Mr Atul Bhatt, CMD, RINL expressed optimism in RINL’s turnaround while emphasized on collaborative efforts for achieving the Turnaround.
Addressing senior executives, employees and other stakeholders at the New Year Celebrations Mr Bhatt said “I am confident that 2024 would be a very promising year for RINL “.
He expressed his strong belief in the potential and commitment of the employees and exhorted them to put their act together to make 2024 a year of turnaround.
Speaking on the occasion, CMD, RINL he said “Let us together pledge to make 2024 a turnaround year for RINL”.
Sharing the RINL’s turnaround plan with the RINL collective, Mr Bhatt opined that addressing technical bottlenecks, financial issues/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, Sri Atul Bhatt urged the support of RINL workforce, unions and other business associates to make 2024 a turnaround year for RINL.
The CMD thanked the Union Steel Minister, Steel Ministry and the entire RINL workforce for their unstinted support towards RINL’s efforts towards staging a turnaround.
RINL on the Marketing front for the period April-December, 2023 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 over the corresponding period, last year. 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 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. Mr DK Mohanty, Dr. SC Pandey, and Mr A.M. Haneef, also participated.
