Sri PK Rath, CMD, RINL said that the Company registered a strong performance by recording the sales turnover of around Rs 18,000 crores, 2nd highest since inception during the just concluded 2020-21 financial year, representing an impressive growth of 13% and the sales volumes reached 4.45 Million Tons, with a growth of 4%. RINL registered a net profit of about Rs.740 Crores in the last 4 months.
In March’ 21 the company achieved a sales turnover of Rs.3,300 Crores and sales volume of 7,11,000 Tons in Mar’21, for the first time in the history of the company. This sales turnover is a whopping 42% more than the previous best of Rs.2,329 Crores in Mar’19. He congratulated the RINL-VSP collective for the stupendous performance achieved in all areas of operations.
Addressing senior officers of the Company at the main conference hall, Main administration building in a virtual meeting today, Sri 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 Dec’20. He complemented the works collective for achieving best ever production figures exceeding capacity of 6.3 MTPA (Million Tons Per Annum) expansion.
“During the year, we achieved export sales of 1.3 Million Ton, which is 261% higher than previous year. In addition to this, 35 out of total 57 Ocean 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 added while appreciating the marketing collective.
Sri Rath also appreciated MM, Finance and HR collective for achieving the best performance in their respective areas.
He informed that, RINL spent around Rs. 10 crores during the year under CSR which includes Rs. 5 crores to PM CARES fund for COVID 19.
He told that Recruitment of 245 Management Trainees (Technical) is under process for inclusion of fresh blood into RINL’s stream.
He also informed that Forged Wheel Plant at Raebareli is expected to start production from the first week of April ’21.
Sri Rath further informed that the dedicated and sincere efforts of the RINL collective 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, the top most awards at the International Convention on Quality Control Circles. RINL was awarded Rajbhasha Keerthi Puraskar First Prize by Department of Official Language, Ministry of Home Affairs, GOI for best performance in Hindi Implementation for FY 2019-20. RINL’s In-house Magazine ‘Sugandh’ was awarded Rajbhasha Keerthi Puraskar First Prize for 2018-19. He appreciated the employees whose incredible performance brought laurels to the company.
He called upon the employees for focusing on some of the important aspects like, Increase in PCI in all the three furnaces, Cost optimization in all the areas, Utilization of waste like metallurgical waste etc, Innovative ways of cash management, Sustaining production from expansion units, ensuring raw material security and Capturing niche markets etc. in the year 2021-22.
Sri Rath expressed confidence that RINL collective will rise to the occasion and put the company on higher platform in the year 2021-22.
Sri DK Mohanty, Director (Commercial), Sri KK Ghosh, Director (Projects), Sri AK Saxena, Director (Operations), Sri KVN Reddy, CVO and CISF Commandant, Executive Directors physically participated in the meeting while CGMS, GMs, HODs, representatives of SEA, Trade Unions, senior officers of RINL from all over India participated through virtual platforms like Google meet and You tube.
Corporate Communications Department conducted this programme in association with CSM, General Administration, Telecom and IT departments.