MOIL Limited, a Miniratna Category-I Schedule-A PSU under the Ministry of Steel, Government of India, in its 53rd annual general meeting had declared 35% (i.e.,Rs. 3.50 per share) final dividend for the year 2014-15.
The Final Dividend cheque amounting to Rs. 42.08 Crores relating to Govt. of India, was presented to Shri Narendra Singh Tomar, Minister for Steel and Mines, Govt. of India, at New Delhi by Shri G.P Kundargi, Chairman-cum-Managing Director, MOIL in the presence of Dr. Anup K. Pujari, Secretary to the Govt. of India, Ministry of Steel, Smt. Urvilla Khati, Joint Secretary to the Govt. of India, Ministry of Steel. Shri M.P Chaudhari, Director (Finance) and other senior officials of MOIL Limited were also present.
The above dividend is in addition to interim dividend @50% amounting to Rs. 60.12 Crores (approx) paid earlier to Government of India for the year 2014-15.
During F.Y. 2014-15, MOIL produced 11.39 lakh tonnes of various grades of Manganese ore and recorded a jump of 9.90% in its core production (i.e., production of ferro and silico manganese grades of ore). The Company achieved sales turnover of Rs. 823.25 Crores, earned PBT of Rs. 650.57 Crores and PAT of Rs. 428.01 Crores in 2014-15.
At present, MOIL’s paid-up capital is Rs. 168.00 Crores out of which 71.57% is held by Government of India, 4.62% by Government of Maharashtra, 3.81% by Government of Madhya Pradesh and the rest (20%) by public. MOIL’s shares are listed on National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE), Mumbai.
MOIL Limited is the largest producer of Manganese ore in the country. It operates ten mines in Maharashtra and Madhya Pradesh and has also diversified into manufacture of electrolytic manganese dioxide and ferro alloys as well as generation of electricity through wind turbine generators.