RINL VSP Achieves Stupendous Performance in 2020-21
On the block Rashtriya Ispat Nigam Limited has registered a strong performance in financial year 2020-21 by recording the sales turnover of
On the block Rashtriya Ispat Nigam Limited has registered a strong performance in financial year 2020-21 by recording the sales turnover of around INR 18,000 crores, 2nd highest since inception, representing an impressive YoY growth of 13% for 4.45 million tonnes of sales volumes, up 4% YoY. RINL CMD Mr PK Rath highlighted the overall improvement in the performance of the company and mentioned that this has been possible due to record levels of production being achieved since December 2020. He complemented the works collective for achieving best ever production figures exceeding capacity of 6.3 million tonnes per annum expansion.
Mr Rath added “During the year, we achieved export sales of 1.3 million tonnes, which is 261% higher than previous year. In addition to this, 35 out of total 57 export contracts were finalised with 100% advance payment terms. Having established such a good market for exports, there should not be any looking back.”
He also informed that Forged Wheel Plant at Rae Bareli is expected to start production from the first week of April 2021.