Rashtriya Ispat Nigam Limited has bagged the “Frost & Sullivan 2015 India Steel Manufacturing Product Leadership Award” The Award was presented to RINL at the Frost & Sullivan’s 2015 Best Practices Awards ceremony held in Mumbai. The award was received by Sri R Shankar, ED(Marketing) on behalf of RINL. The award is in recognition of the excellent work and relentless efforts showcased by RINL collective in the year 2014 by exploring opportunities in the market for new products and emphasizing on maximizing the share of value-added products.
While congratulating RINL on the occasion, Sri Avdhesh Sapru, Research Analyst, Best Practices, Frost & Sullivan, said, “Long Steel Product Manufacturing is a highly fragmented sector in India, with a majority of the production about 71.5% supplied by more than 1000 small-scale secondary producers. In such a market, RINL stands out as a market leader, accounting for 9% of long steel products used in Manufacturing and 4 % in Construction, with an overall contribution of 7.5% for the entire segment. Industry benchmarking reports consistently point to RINL’s exceeding industry averages, as well as its closest competitors, in terms of quality and end-user satisfaction. RINL is also at the forefront of the production of value-added Steel Products in India, with the company’s expansion efforts pointing to a further consolidation of its status in this segment, with several firsts on the cards, including Forged Wheels and Axles for high-speed trains with improved load bearing, Continuous Cast Rounds, and TLT Grade Steel”.
Congratulating the RINL collective for winning the prestigious award, Sri P Madhusudan, CMD, RINL said that this recognition by Frost and Sullivan would boost the morale of the employees as it comes at a crucial time when the company is facing challenges in the domestic market due to cheaper imports, and the recognition would also help RINL to further strengthen its leadership position in the Indian steel industry.