RINL News

The 40th Annual General Meeting (AGM) of Rashtriya Ispat Nigam Limited, the Navratna PSU, was held on 28th September, 2022 at its Registered Office situated in Visakhapatnam.Shri Atul Bhatt, CMD & Director (Personnel) [Addl. Charge], RINL, Chaired the Meeting. Shri S Narayanaswamy, Under Secretary to the Govt. of India, Ministry of Steel (MoS) attended the AGM on behalf of President of India as authorised nominee through Video Conference from New Delhi. Shri Atul Bhatt, CMD/RINL, addressed the shareholders of RINL/VSP and explained the position of the Company. In his address, he mentioned that during the financial year (FY) 2021-22, the Company achieved highest turnover of ^a"^128,215 Crs since inception, with a growth of 57% over the previous year. Also, the Company earned positive Profit Before Tax (PBT) after 6 Financial Years. During the year, the company achieved an EBITDA of ^a"^1 3469 Crs with a growth of 148% over the previous year. The Company has also earned a Cash Profit of ^a"^1 1,923 Cr in the financial year 2021-22.

Thirty eight delegates from 25 countries belonging to International Centre for Information System & Audit (iCISA) visited Vizag Steel today as part of 148th International Training Programme on “Audit of State-owned Enterprises”.

The 37th Annual General Meeting (AGM) for the year of 2018-19 of Rashtriya Ispat Nigam Limited, VSP, the Navratna PSU, was held on 13th September, 2019 at its Registered Office situated in Visakhapatnam.

RINL-VSP has procured a latest technological tool “3D Laser Scanner” for conducting verification of volumetric  raw material  stocks like, coals, coke fractions etc in Raw Material Handling Division.  The Scanner is procured as a part of improvement in method of stock verification.

Employees of RINL-VSP joined hands with Government of Kerala in rebuilding the lives of flood affected victims of Kerala.  RINL  contributed an amount of 1,68,43,197/- (Rupees One crore Sixty Eight Lakhs Forty Three thousand One Hundred and Ninety Seven only) for rehabilitation of the victims of flood.

The 36th Annual General Meeting (AGM) of Rashtriya Ispat Nigam Limited, the Navratna PSU, was held on 29th September ’18 at its Registered Office situated in Visakhapatnam.

Income Tax Department, Visakhapatnam conducted an awareness programme on the provisions of Income Tax for filing returns by individuals in RINL, Visakhapatnam Steel Plant premises on 15th February, 2018.

Sri Varanasi Venkata Venu Gopal Rao assumed charge as the new Director(Finance) at RINL-Visakhapatnam Steel Plant today.

RINL-Visakhapatnam Steel Plant has successfully started its operations under the GST regime and the first GST Invoice issued  for the sales of Wire Rod coils from Hyderabad Branch Sales Office.

Sri P Madhusudan, CMD, RINL inaugurated the Mini Mobile ATM facility today. The State Bank of India, Steel Plant branch came forward to help the employees and general publi in and around Visakhapatnam Steel Plant/ Ukkunagaram to dispense cash through Point of Sale (PoS) -  Mini Mobile ATM. The debit card holders can withdraw Rs 2000 per day by swiping their cards through the mobile ATM. Sri Madhusudan appreciated the fine gesture of SBI of serving the society at large and urged the  employees to utilize the facility. Later, Sri Madhusudan withdrew Rs 2000 by swiping his debit card.

The 34th Annual General Meeting of Rashtriya Ispat Nigam Limited, a Navratna PSE, was held on 29th September ’16 at its Registered Office in Visakhapatnam. Shri P Madhusudan, CMD/RINL, chaired the Meeting. Shri Mahabir Prasad, Director, Ministry of Steel(MOS) attended the AGM as Nominee of President of India.

Sri Arabinda Das, Principal Director of Commercial Audit and Ex-Officio member of Audit Board, Hyderabad inaugurated the renovated  Resident Audit Office of Government Audit in the Project Office premises of RINL in the presence of Sri TVS Krishna Kumar, Director (Finance) of RINL.

The 33rd Annual General Meeting of RashtriyaIspat Nigam Ltd, a Navratna PSU under Ministry of Steel, was held on 29th September ’15 at its Registered Office in Visakhapatnam. Shri P Madhusudan, CMD, RINL chaired the meeting. In his address, CMD, RINL indicated that in 2014-15 the company registered a growth of 3% in Crude Steel production despite the operations of the plant being severely impacted by the Hudhud Cyclone in October ’14. After Hudhud, the plant operations could be normalised in the quickest possible time and the growth momentum  could be  resumed   during  December’14-March’15.

Vizag Steel Plant employees heeded to the call given by Income Tax Department on filing of Income Tax return by attending in large numbers today in the awareness programme conducted by the Income Tax Department.

As a step forward in the implementation of ERP (Enterprise Resource Planning) in RINL, Sri P Madhusudan, CMD, RINL launched Customer Relationship Management (CRM) module today. Speaking on the occasion, Sri Madhusudan stressed the need to focus on customer requirements in a time bound manner in order to accrue the benefits to the customers. He complimented the ERP, Wipro and Marketing teams for launching the module on CRM. Using the features of Customer portal, the customers will be able to access the relevant information on-line, can now view their balances, requisitions, materials and participate in eauctions. The initiative is expected to increase customer satisfaction. 

Successful completion of one year in ERP environment after it’s go-live on 1st May’ 2014 

RINL has achieved a major breakthrough in enhancing ‘good corporate governance’ and ‘e-governance’ by implementing the latest Enterprise Resource Planning (ERP) in its business management. With this, RINL joined Major PSUs and multi national companies in implementing ERP system to enhance business excellence. Sri P Madhusudan, CMD, RINL had initiated the process of ERP ‘Go-live’ by handing over the first sales invoice through ERP-SAP system to the Customer M/s Kandoi Industries India Pvt Ltd, at a function held in VSP today.

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