Indian government-run steel producer Rastriya Ispat Nigam Limited (RINL) achieved its highest-ever annual turnover of $3.483 billion in the fiscal year 2021-22, company chairman Atul Bhat told a shareholders’ meeting on Thursday, September 29.
Mr. Bhat said that RINL also achieved a profit before tax of $237 million during the financial year in question.
In spite of curtailed production during the January-March quarter of 2021-22, RINL was able to register its best-ever performance in all major production areas, achieving pig iron production of 5.77 million mt, the highest by any single-mill government company.
The Indian government is going ahead with the privatization of the steel mill, seeking to divest 100 percent of its stake in the company to a private investor through a competitive bidding process.