MOIL Presents Dividend to Government

MOIL Limited (Formerly known as Manganese Ore (India) Limited), a Miniratna Schedule-A PSU under the Ministry of Steel, Government of India, has declared 35% Final Dividend for the year 2013-14.

The Final Dividend cheque of Rs. 42.08 Crores was presented to the Union Minister for Steel, Mines and Labour and Employment, Shri Narendra Singh Tomar here today New Delhi by Shri G.P Kundargi, Chairman-cum-Managing Director of MOIL Limited in the presence of Shri V.K Thakral, Additional Secretary & Financial Advisor (AS&FA) and Smt. Urvilla Khati, Joint Secretary, Ministry of Steel respectively. Shri M.P Chaudhari, Director (Finance) and Shri A.K Jha, Director (Production & Planning) of MOIL Limited and other senior officials of the company were also present.

During the year 2013-14, the production of Manganese Ore was 11.35 Lakh Tonnes. The company has achieved a total income of Rs. 1324.60 Crores during the year. It has earned Profit Before Tax (PBT) of Rs. 769.33 Crores and Profit After Tax (PAT) of Rs. 509.56 Crores during the Financial year. MOIL’s shares are also listed on National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE), Mumbai.

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 rest 20% by public.

MOIL Limited is the largest producer of Manganese ore in the country. The Company has been showing excellent performance continuously for the last several years. Hon’ble Steel Minister assured full support of the Ministry of Steel to MOIL Limited for better performance and further development and grant of mining leases in favour of the Company.

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NSK/NN