Exceeds target set by the Ministry of Steel
Despite sluggish growth in the automobile, construction and manufacturing sectors, Rashtriya Ispat Nigam Ltd. (RINL) has achieved a record sales turnover of Rs.6,215 crore in the first half of 2011-12, registering 28 per cent growth over the corresponding period last year.
The company, which is the corporate entity of the Visakhapatnam Steel Plant, has fulfilled 117 per cent of the MoU target set by the Ministry of Steel. In this backdrop, the regional managers and senior branch managers met on Monday and reviewed the performance of the company besides preparing a business plan for the second half.
Chairman-cum-Managing Director A. P. Choudhary and Director (Commercial) T. K. Chand expressed satisfaction over the performance.
The marketing department made a presentation on the performance as well as the areas of concern, targets and challenges ahead for the second half.
The steel market scenario in the first half was marked by sluggish growth in major consuming sectors such as construction, manufacturing, automobile and engineering.
Despite this, RINL steered through by dynamic marketing strategy and consistently achieved more than Rs.1,000-crore sales in the last four months. The marketing plan focussed on opening new market, maximisation of net sales realisation and high standards customer service.