KIOCL Reports All Time Highest Performance

KEY HIGHLIGHTS OF PERFORMANCE - FY 20

 

Dispatches 2.356 Million Tons as against 2.206 Million Tons of previous FY (up by 7% YoY)

 

Production and Despatches are high since 2006 and the Turnover is high since inception of Company.

 

Export of Pellet 1.99 Million Tons, Highest since closure of captive mine (end of 2005) at Kudremukh. 

 

Shri MV Subba Rao, CMD, KIOCL informed that the Company’s Financial Results for FY 20 was better not only on the sales volume but also on the insights taken by the company that made it more stronger for the uncertainty and difficult times due to COVID 19 pandemic that wrapped the world during the last part of the fourth quarter and enduring in  FY 21. 

 

Total exports of the company stood at 84%, shot up by 31% YoY basis, penetrating into Brazil, Middle East, China European markets, thereby facilitated in improving overall performance of the company all through 100% utilization of coastal sea route.

 

NEW BUSINESS AND PROJECTS 

 

KIOCL has entered into exploration of different types of minerals and received orders worth of ?105 Crores from GoI & GoK which are under different stages of execution. Company has been successful in obtaining statutory clearances from Govt. of India for its envisaged projects viz., setting up of 2.0 LTPA capacity Ductile Iron Spun Pipe Plant, 1.89 LTPA capacity Coke Oven Plant with 10 MW Co-gen Power Plant, Pulverized Coal Injection system and Modernization of Blast Furnace Unit.  Company is in the process of identifying Turnkey Contractors for various packages by fulfilling the guidelines laid down by GoI under Atma Nirbhar Bharat Abhiyan. Further, Company is actively pursuing for obtaining statutory clearances for its notified mines in the State of Karnataka.

 

DIVIDEND 

 

The Board of Directors have recommended a dividend of Rs 0.70 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, 2020 amounts to Rs. 43.54 Crores, thereby distributing dividend as 100 % of PAT.