VISAKHAPATNAM: Rashtriya Ispat Nigam Ltd (RINL), the corporate entity of Visakhapatnam Steel Plant (VSP), has achieved the highest sales turnover of Rs 2,871 crore through sale of 5.38 lakh metric tonnes of steel. Tiding over the pandemic, RINL surpassed the previous annual best sales turnover in the financial year 2021-22.
In the current financial year, the plant achieved a cumulative sales turnover of Rs 22,228 crore surpassing the previous annual turnover of Rs 20,844 crore in the financial year 2018-19. The cumulative sales volume in the current financial year is at 42,72,201 metric tonnes. On the export front, VSP registered a 47 per cent growth by earning Rs 4,838 crore in the current fiscal.Both sales value and volume were the best ever in the month of January since its inception.
Speaking to TNIE, VSP recognised union president J Ayodhya Ram said in the next two months the plant is expecting a sales turnover of Rs 6,500 crore.“The plant will achieve a sales turnover of Rs 29,000 crore and this will be the highest in a financial year since its inception. Production crossed 6 million tonnes against a capacity of 7.3 million tonnes,” he said and added that the plant has paid Rs 5,000 crore as taxes. VSP will earn a net profit of Rs 1,000 crore this fiscal year. He said the plant can achieve a net profit of Rs 2,000 crore if captive mines are allotted to it, he said
Best ever sales value
The cumulative sales volume in the current financial year is at 42,72,201 metric tonnes. On the export front, VSP registered a 47 per cent growth by earning Rs 4,838 crore in the current fiscal. Both sales and volume were the best ever in January since its inception