New Delhi (02.04.2024): RINL has registered an impressive sale of 7,30,000 tons of Wire Rod Coils (WRC) on the marketing front during 2023-24 Financial Year (FY), a growth of 43 per cent over corresponding year, last year-CPLY) and 5,08,000 tons of Structurals (a growth of 11 per cent CPLY), which are 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 per cent of domestic sale and a growth of 37 per cent growth over CPLY, respectively”.
In spite of sluggish market, non-availability and high prices of raw materials, RINL registered a sales turnover of Rs 23,129 cr during 2023-24 FY registering a growth of 2 per cent 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 per cent growth over CPLY) which includes sale of 7,80,000 tons of Rounds (10 per cent 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 per cent 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.
