Help Desk -
9717405332, 9599714297, 9810335381
Email
Password

Bright future ahead for RINL – Mr Madhusduan CMD

Steel News - Published on Tue, 02 Jan 2018

Image Source: thehindubusinessline.com
Mr P Madhusudan, CMD, RINL-VSP said that RINL registered significant performance in all areas of its operations despite very difficult circumstances during April-December, 2017 and attributed the success to the relentless efforts of the entire workforce. He made this observation while addressing the senior functionaries on the occasion of New Year 2018 at Ukkunagaram. Speaking on the occasion, Sri Madhusudan said that the year 2017 saw completion of expansion, modernization and taking the capacity to 7.3 mtpa and he stressed the need to enhance the volumes to improve the bottom-line.

Highlights of Performance during April-December,2017
Hot Metal -3.65 million tonnes, +13% YoY
Liquid Steel - 3.54 million tonnes, +15% YoY
Saleable Steel - 3.19 million tonne, +15% YoY
Turnover - INR 11,405 crores, +30% YoY

He said that RINL achieved gross margin and there were no borrowings during November and December months and it clearly indicates that RINL is all set to record best ever performance during the last quarter of the current fiscal. He commended the Marketing Department for achieving a sales volume of 1 million tons during November & December’17 and a turn over of over INR 2000 crores in December’17 and exhorted them to tailor the marketing strategies to increase the Net Sales Realization (NSR).

Mr Madhusudan expressed confidence that RINL collective has the ability to perform in difficult and adverse conditions. He highlighted the need for cultural transformation among the employees to perform better in future.

Mr Madhusudan mentioned that RINL has been rated as one of the best PSUs in the Ministry of Steel and thanked GOI and particularly the Ministry of Steel for their continuous support to RINL in its journey.

Source :

Posted By : Nanda Koijam on Tue, 02 Jan 2018
Related News from Steel segment