Indian state-run steel producer Neelachal Ispat Nigam Limited (NINL), which is primarily a producer of pig iron and billet, will expand its value-added product portfolio with production of structural steel, beams, angle channels and round-cornered squares, company sources said on Monday, June 24.
Having just launched manufacture of its own thermo-mechanically treated (TMT) branded “NINL Smart TMT” , the steel company said it expects that increasing the captive conversion of its billets to expand value-added products will enable NINL to increase aggregate sales margins and return to profitability, after having notched losses for the last five fiscal years, the sources said.
Production from its captive Koda iron ore mines is expected by the end of the current fiscal year and this backward integration along with forward integration of producing finished steel products are expected to improve the profitability of NINL, the sources added.
NINL operates a 1.1 million mt per year steel mill in the eastern Indian state of Odisha and produced 800,000 mt of pig iron in the 2018-19 fiscal year.