Indian steelmaker Rashtriya Ispat Nigam Limited (RINL) has recorded its highest monthly sales volume of 711,000mt in March 2021, the company announced via Twitter on Thursday. Sales turnover also surged by 42pc to Rs33bn, breaking the previous best of March 2019.
In FY 2020-21, company also registered sales volume growth of 4pc to 4.45mn mt compared to prior year, despite challenges posed by the COVID-19 pandemic. This was possible due to record production achieved after December 2020.
Export sales
The state-owned company steel exports reached 1.3mn mt in FY21, which is a whopping 261pc higher than previous year. In March 2021 alone, RINL received export orders of over 200,000mt. Products include semis and finished steel products.
Forged wheel plant
The company is expected to start forged wheel production in early-April from its new plant in Rae Bareli in the Indian state of Uttar Pradesh. Its production capacity is 100,000 forged wheels per annum. The wheels produced at this unit will be supplied to the Indian Railways.