During 2024-25 (April-December 2024), Rashtriya Ispat Nigam Limited (RINL) has produced 2.68Mt of Hot Metal and 2.37 Mt of Saleable Steel. Total Income of RINL during April-December 2024 was ₹12,615.03 crore. During this period, RINL incurred a loss of ₹ (-) 3943.43 crore (Profit Before Tax). Total liabilities of RINL as on 31.12.2024 is around ₹ 38,965.00 crore.

Government of India has approved the infusion of ₹10,300.00 crore as equity capital in RINL (including ₹500.00 crore already provided as emergency funds in September, 2024) and conversion of ₹1140.00 crore working capital loan as 7% Non-cumulative Preference Share Capital redeemable after 10 years, to keep RINL as a going concern.

The objective of the infusion is to help RINL overcome the present financial crisis and leverage its working capital requirements to continue its operations as a going concern.

RINL has been facing severe financial constraints. It has released partial salaries to its employees for the months of September, October and November 2024. The equity infusion of RINL has been done by Government of India to keep it as a going concern.

This information was given by the Minister of State for Steel and Heavy Industries, Shri Bhupathiraju Srinivasa Varma in a written reply in the Lok Sabha today.

*****

TPJ/NJ

(Release ID: 2099915) Visitor Counter : 215