New Delhi/Visakhapatnam: Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant, announced that Vinay Kumar has assumed charge as the company’s Director (Finance).
A finance professional with over 25 years of experience, Vinay Kumar brings deep expertise across a broad spectrum of financial functions. He holds a BA (Hons.) in Economics (1995) and is a Chartered Accountant (1999).
Kumar began his career with the Steel Authority of India Limited (SAIL) in 2001, joining its Central Marketing Organisation (CMO). Over the decades, he has played an instrumental role in driving multiple financial and taxation reforms. His contributions include the implementation of VAT, A4-size invoicing, and various financial control systems. He has also handled assignments across taxation, MIS development, ERP implementation, credit rating monitoring, and central accounts, ensuring clean audit outcomes.
He is credited with introducing innovative LC discounting strategies and facilitating the smooth rollout of GST, e-invoicing, and the e-way bill system across SAIL’s CMO operations.
In his role as Head of the Market Analyst Group at SAIL, Kumar served as the CMO’s Single Point of Contact for the Annual Business Perspective and the Modernization & Expansion Plan. He also acted as a resource person for taxation and financial matters for various SAIL units.
A thought leader in steel demand forecasting, Kumar pioneered the use of steel intensity with GVA Construction and steel intensity with GDP growth to enhance forecasting accuracy at CMO. He played a key role in forecasting the country’s steel consumption as a member of the Economics Committee of the Indian Steel Association and served as SAIL’s nodal representative to the Joint Plant Committee, Ministry of Steel.
Before joining RINL, he was responsible for indirect taxation across all SAIL plants and units, contributing significantly to enhancing SAIL’s top line. Vinay Kumar’s appointment is expected to strengthen RINL’s financial leadership at a critical time for the company and the steel sector.
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