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.
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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.
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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.
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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.
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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.
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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.
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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.
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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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