The Board of KIOCL Limited,
a CPSU under Ministry of Steel, approved the Financial Results for the 4th quarter and for the financial year 2018-19 on 21th May 2019 at New Delhi. During the year, the Company reported total revenue of Rs. 2012.68 Crores, with profit before tax of Rs. 184.12 Crores, up by 13% & 114% respectively.
The highlights of performance are summarised as under:
Key highlights - FY 2018-19:
Pellet Production 2.24 Million Ton and Dispatch 2.21 Million Ton, surpasses MoU Excellent Target
Turnover from Operations Rs. 1887.71 Crores, shot up by 15%, highest since inception of the company
Profit before Tax Rs. 184.12 Crores, shoot up by 114%
Profit after Tax Rs. 111.86 Crores, up by 37%
Export of Pellet 1.52 Million Ton, Highest since closure of captive mine (end of 2005) at Kudremukh
Shri M V Subba Rao, CMD, KIOCL informed that the Pellet Plant continued to perform well due to the initiatives like improved production of Pellet with internationally acclaimed physical & chemical specifications, High Sales Volume along with better capacity utilization, entering into new International Markets (such as Japan, South Korea, Vietnam, Malaysia, Chile, UK etc), 100 % utilization of coastal sea route for incoming and outgoing movements, excellent treasury management and implementation of stringent austerity measures etc., thereby reducing input cost and increasing the realisation.
He also informed that in FY 18-19, KIOCL produced 2.24 Million Ton and dispatched 2.21 million tons of pellets out of which 1.52 million tons of pellets were exported during the year. This is the highest quantity of pellets exported since the closure of its captive mines. KIOCL has also entered into high grade new Pellet market where premium is high and is used for making quality steel.
Further, Operational & Maintenance Portal, exploration works of different minerals helped to improve the turnover and profitability and Developed Global Markets in addition to Chinese and Domestic Indian Market.
The Board of Directors have recommended a dividend of Rs 1.33 per equity share, subject to the approval of the shareholders at the Annual General Meeting. The total dividend for the financial year ended 31st March, 2019 amounts to Rs 82.70 Crores and will absorb Rs. 99.70 Crores, including Dividend Distribution Tax of Rs.17.0 Crores, thereby distributing dividend as 89 % of PAT.
Posted Date : 21-05-19