Rinl
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Rashtriya Ispat Nigam Limited (RINL), located in Visakhapatnam, India, is a state-owned steel producer. It operates the first integrated shore-based steel plant in India. RINL supplies steel products for major infrastructure projects across India and exports to countries including the US, UAE, and Sri Lanka. It has a workforce of over 18,000 employees. RINL aims to list as a public company to comply with regulations for state-owned firms and maintain its status as a Navratna company.
Rinl
- 1. BRIEF OVERVIEW OF RASHTRIYA ISPAT NIGAM LTD. (VISAKHAPATNAM STEEL PLANT) Rashtriya Ispat Nigam Limited ‐ Visakhapatnam Steel Plant (RINL‐VSP) popularly known as ‘Vizag Steel’ the ‘Pride of Steel’, a leading Central PSU under the Ministry of Steel is the first shore based Integrated Steel Plant in the country. Vizag Steel known for its ‘Quality’ & ‘Customer Service’ is a market leader in longs with a share of about 10%. It has been supplying various grades of steel for construction of projects of National importance which include Metros, Power Sector, Bridges, Nuclear complexes and several others. RINL‐VSP has exported finished products to countries like USA, UAE, Thailand, Bangladesh, Nepal, Sri Lanka etc. Its products are made from 100% virgin steel, maintaining stringent tolerances both in chemistry & physical properties. RINL‐VSP has a wide marketing network spread across the country and is the “preferred steel maker” for the customers. 1. Name of the Organization : RASHTRIYA ISPAT NIGAM LTD. (A Navratna Company) 2. Headquarters : VISAKHAPATNAM 3. Date of Establishment : 1982 4. Main Areas of Activities : Iron and Steel making with finished products like Billets, Wire Rods, Rounds, Square, Flats, Channels, Angles & Universal beams. 5. Capital Structure: 6. Physical & Financial performance Details : Year Hot Metal (‘000 t) Liquid Steel (‘000 t) Saleable Steel (‘000 t) Turnover (in crores) Financial Net Profit / Loss (Rs. in crs.) Net Worth (In Crores) 2009‐10 3900 3399 3167 10635 797 12885 2010‐11 3830 3424 3077 11517 658 13229 2011‐ 12(upto Dec’11) Prov.) 2848 2431 2199 9945 401 13630.49 7. Manpower : The Company’s workforce stands at 18080 as on 31.12.2011. 8. Mines operated by RINL: 1. Dolomite mines at Jaggayapeta 2. Limestone mines at Madharam 3. Manganese Mines at Garbham, Vizianagaram, Dist. A.P. 9. Status of Board level appointments as on 01.06.2012 Name of the CPSE : Rashtriya Ispat Nigam Limited (RINL) Schedule of the Company : ‘A’ Whether listed : No Authorized Capital Rs. 8000 crores Paid‐up Capital Rs. 7827 crores
- 2. Administrative Ministry : Ministry of Steel Number of Sanctioned Posts of Directors :Functional: Six(6) Official:Two(2) Non‐Official: 8 Details of Directors in Position : Details of DirectorsS. No. Designation Category (Functional/ Official/ Non-Official) Name Date of Birth Date of Joining Date of Superannua- tion/ Tenure ending 1. Chairman‐cum‐ Managing Director Functional Sh. A.P. Choudhary 26.12.1953 01.08.2011 31.12.2013 2. Director(Operations) Functional Sh. Umesh Chandra 02.07.1954 01.11.2008 31.10.2013 3. Director(Finance) Functional Sh. P. Madhusudan 09.05.1958 02.11.2009 01.11.2014 4. Director(Commercial) Functional Sh. T.K. Chand 17.11.1959 22.09.2010 21.09.2015 5. Director(Personnel) Functional Sh. Y.R. Reddy 11.04.1954 22.12.2010 30.04.2014 6. Director(Projects) Functional Sh. N.S. Rao 28.10.1953 19.04.2012 30.10.2013 7. Joint Secretary, Ministry of Steel Official Dr. Dalip Singh 09.04.1956 07.11.2008 Co‐terminus 8. Independent Director Non‐Official Dr. U.D. Choubey 18.07.1949 11.10.2010 10.10.2013 9. Independent Director Non‐Official Sh. A.P.V.N. Sarma 20.10.1949 30.09.2010 29.09.2013 10. Independent Director Non‐Official Sh. Swash Pawan Singh 29.12.1948 01.10.2010 30.09.2013 11. Independent Director Non‐Official Sh. H.S. Chahar 15.10.1948 30.09.2010 29.09.2013 12. Independent Director Non‐Official Prof. Sushil 17.09.1956 14.05.2012 13.05.2015 13. Independent Director Non‐Official Sh. Ashok Jain 27.06.1951 14.05.2012 13.05.2015 14. Independent Director Non‐Official Sh. V.S. Jain 24.07.1946 14.05.2012 13.05.2015 7. Details of Vacant Posts of Directors(if any) : Category of Director – Functional, Govt. or Independent Director Date on which the post fell vacant Name of the officer who demitted the office If newely created post then date of creation Official Director 14.05.2012 As per the Cabinet decision for disinvestment of RINL, on the date of filing of DRHP, RINL must be compliant with Clause 49 of the Listing Agreement which stipulates that number of full time Directors and number of non‐official Director Independent Director 23.11.2009 RINL has been granted Navratna status on 16.11.2010 by the DPE subject to the condition that RINL will get listed in two years from the date of grant of Navratna status and this status will automatically get withdrawn if thjs is not listed within the stipulated period. As per the Clause 49 of the Listing Agreement, the RINL’s Board should have the Board composition of at least 500% Independent Directors. Before launching IPO, RINL Board should have another 4 Independent Directors on the Board. Out of these 4 Directors, 3 Independent Directors have already been appointed on 14.05.2012. The file is under submission for approval of Hon’ble SM for appointment of 1 more Independent Director