MOIL declares a dividend of 30%
The 57th Annual General Meeting (AGM) of MOIL Limited, a city-based Miniratna schedule â€˜Aâ€™ company under the administrative control of Ministry of Steel, Government of India, was held on Friday.
CMD, MOIL, M P Chaudhari chaired the meeting. In his speech he informed the shareholders that MOIL has achieved the highest ever turnover of Rs Â 1440.67 crores in FY 2018-19, recording a growth of 8.86% as compared to the previous yearâ€™s turnover which was Rs 1323.46 crores.
As compared to last year the company has recorded an increase in Profit Before Tax (PBT) at 719.75 crore, which is higher by 11%.
Mr. Chaudhari, also mentioned that the company has produced 13.01 lakh tone of various grades of manganese ore during the financial year 2018-19, which is the highest ever production in the last 10 years.
MOIL has also registered the highest ever sales and production of non-fines manganese-ore during the financial year 2018-19. He further mentioned about starting of a new mine at Parsoda in Nagpur district with an annual production capacity of 40,000 MT.
The shareholders declared payment of final dividend at 30 percent (Rs 3 per equity share) which is in addition to the Interim Dividend of Rs 3 per equity shares, already paid to the shareholders.
TK Pattnaik, Director (Commercial), Dipankar Shome, Director (Production and Planning) and Rakesh Tumane, Director (Finance), Usha Singh, Director (Human Resource), Independent Directors Sangita Gairola, Sunanda Prasad V M Chariar, G Latha Krishna Rao were also prominently present at the meeting.
Neeraj D Pandey, Company Secretary proposed the vote of thanks.
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