RINL CMD hails workforce for good show

Visakhapatnam: RINL Chairman-cum-Managing Director PK Rath has congratulated the workforce and the stakeholders for the company's overall good performance during 2020-21 by achieving a turnover of Rs 18,000 crore.

In an address to the officers, he said, in March, 2021 the company achieved a sales turnover of Rs 3,300 crore and sales volume of 7.11 lakh tonne for the first time in the history of the company. The sales turnover is a whopping 42 per cent more than the previous best of Rs 2,329 crore in March, 2019. The CMD congratulated the RINL-VSP collectively for the stupendous performance achieved in all areas of operations.

He said the company registered a strong performance by recording a sales turnover of around Rs 18,000 crore, the second highest since inception during the just-concluded financial year recording an impressive growth. The sales volumes reached 4.45 million tonne with a growth of 4 per cent.

"During the year, we achieved export sales of 1.3 million tonne, which is 261 per cent higher than previous year. In addition to this, 35 out of total 57 ocean export contracts were finalised with 100 per cent advance payment terms. Having established such a good market for exports, there should not be any looking back," he said.

Rath said that RINL spent around Rs 10 crore during the year under CSR including Rs 5 crore to PM Cares fund for Covid-19.

He said recruitment of 245 Management Trainees (Technical) was under process for inclusion of fresh blood into RINL's stream.

He also said that forged wheel plant at Rae Bareli is expected to start production from the first week of April.

The CMD stated that the dedicated and sincere efforts of the RINL collectively earned prestigious recognitions at many national and international platforms. They include National Energy Conservation Award 2019 first prize, CII Godrej Green Business Centre National Energy Leader Award after winning Excellent Energy Efficient Unit Award in 2017, 2018 and 2019. Three teams from RINL bagged "Platinum" awards and the topmost awards at the International Convention on Quality Control Circles.

He said RINL was focusing on some of the important aspects like increase in PCI in all the three furnaces, cost optimisation in all the areas, utilisation of waste like metallurgical waste, innovative ways of cash management, sustaining production from expansion units, ensuring raw material security and capturing niche markets in 2021-22.

Among others, DK Mohanty, Director (Commercial), KK Ghosh, Director (Projects), AK Saxena, Director (Operations), KVN Reddy, CVO and CISF Commandant and others were present.