Neelachal Ispat Nigam Ltd (NINL), a joint venture between MMTC Ltd and two Odisha government-owned entities, has achieved a sales turnover of Rs 2100 crore in 2018-19, registering 126 per cent growth over FY18.
This is the best turnover ever reported by NINL ever since the company started commercial operations.
With the addition of high value-added billets, TMT, wire rods, structural through conversion agents, the top-line of NINL is expected to reach about Rs 4000 crore in 2019-20.
S S Mohanty, vice-chairman & managing director, NINL, praised all company employees for their sincere efforts and thanked all the stakeholders for their support.
With raw material coming from captive mines in FY20, the bottom line is expected to get a boost and may prove to be a game changer.