RINL witnesses 4% growth in revenue in FY17
Shital Jibhe / 08 Apr 2017
Rashtriya Ispat Nigam Limited (RINL), public sector steel maker, has reported 4% growth in revenue to Rs 12781 crore in FY16-17, as compared to Rs 12281 crore in FY15-16. The marginal growth can be attributed to poor export growth.
Rashtriya Ispat Nigam Limited (RINL), public sector steel maker, has reported 4% growth in revenue to Rs 12781 crore in FY16-17, as compared to Rs 12281 crore in FY15-16. The marginal growth can be attributed to poor export growth. Exports stood at Rs 1048 crore.
On the contrary, the Visag Steel plant (VSP) showcased an impressive performance on all fronts of sales and operations.
At the plant, hot metal production showed 11% growth, liquid steel showed 10%, finished steel showed 16% and saleable steel showed 10% over the year. Wire rod mill-2 reported 43% growth in production; while, gross sinter production touched 6-million tonne.
RINL's capacity now stands at 6.3 million tonnes, anchored by an investment of Rs 12300 crore. Over the coming year, production is anticipated to touch full capacity. To achieve this purpose, RINL will be investing an extra Rs 4000 crore, and will resort to upgrading the capacity by 1 million tonne over FY18E.
In line with government’s target of higher steel usage in rural areas, company has aggravated rural dealership from 235 to 417 outlets.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.