New Delhi, Oct 3 (UNI) Andhra Pradesh-based public sector company Rashtriya Ispat Nigal Limited (RINL) today said it has achieved a record sales turnover of Rs 4192 crores during the first half of the current financial year.
Registering an impressive growth of eight per cent over the corresponding period last year, the holding company of Visakhapatnam Steel Plant (VSP), said the figure stood at Rs 3880 crore last year.
According to a RINL release issued here today, the company sold 6.5 lakh tonnes in value-added steel during April-September in 2007, registered a growth of 28 per cent over corresponding period of the previous year when the company produced 5.15 lakh tonnes.
Sales of value-added steel to total steel sales in terms of volume is 51 per cent. Sales through projects accounted for 3.25 lakh tonnes in April to September 2007, recording a growth of 28 per cent compared to the same period last year when the production was 2.54 lakh tonnes.
Sales of 7.24 lakh tonnes of Granulated slag in April-September 2007, valued at Rs 17.6 crores, registered a growth of 19 per cent in volume and 123 per cent in value.
Of the total sales of RINL finished Steel, share of sales in the southern states increased to 56.2 per cent in April-September 2007 from 52.4 per cent in April-September 2006.
The company exported steels worth Rs 165 crores. VSP has supplied 11, 638 tonnes steel to the District Level dealers (DLDs) with a view to supply steel to the rural segment.
The company in order to improve its distribution system, has opened four outlets in Raipur, Jamshedpur, Pducherry and Jammu.
RINL's value-added steel caters to the automobile, forging industry, wire drawing industry etc.
VSP supplies value-added steel to make Elastic Railway Clips used by Railways and for making wires for press-stressed concrete sleepers for laying railway tracks.
Some of the RINL's project customers include National Highway Authority, Reliance Industries, Nalco, NTPC, Delhi and Hyderabad International Airports, the release added.