The fiscal year of 2018-19 has been a significant year for RINL the corporate entity of Vizag steel plant. The firm recently held a press conference in the city highlighting its achievements for the fiscal 2018-19. The RINL collective informed that all the expansion and modernization facilities were commissioned and available for operation and that significant progress was made on all the fronts be it production, projects, marketing, personnel related issues, materials management or finance.
There has been a growth of around 10 – 12% in most of the production areas, improvement in the capacity utilization of Mills and improvement in various techno-economic parameters said the top management of RINL.
In the area of Expansion & Modernization notable progress was made and it was informed that the Coke oven Battery – 5, Central dispatch yard, KBR-2 projects are progressing at a brisk pace for early commissioning.
On the marketing front the growth in sales has been more than 25%. The turnover is expected to cross Rs 20,500 crores, the highest since inception said its CMD PK Rath.
To cater to the higher production levels new sources of raw materials like Iron ore, coking coal and thermal coal have been identified.
- As a result, significant growth was achieved in all major areas of production (See table below):
- RINL also registered improved performance in various techno-economic parameters such as Labour Productivity, Specific Energy Consumption and Specific Water Consumption. The Labour Productivity of 542 tCS/man-year achieved in November ’18 is the best since inception. The Specific Water Consumption at 2.33 cum/tCS for the year is comparable the best in the world. Usage of Pulverized Coal Injection in the Blast Furnaces has improved by 10% over last year.
- Even though, there is a considerable increase in raw material cost and depreciation which increased by 38%, the company has successfully optimised its operations and could reduce the loss at PBT level by 88% as against loss of Rs.1402 Crs during CPLY.
- RINL is expecting to end the year with a gross margin of around Rs. 1770 Crores against Rs. 254 Crores in the last year.