(a) whether the profit making Public Sector Undertakings are not following the directives of the Government to pay dividends;
(b) if so, the details thereof;
(c) the action taken or proposed to be taken in the matter; and
(d) the role of the Government nominees on the board of directors of those PSUs?
MINISTER OF STATE FOR HEAVY INDUSTRIES AND PUBLIC ENTERPRISES (DR. VALLABHBHAI KATHIRIA)
(a) & (b): As per Public Enterprises Survey 1998-99, which was laid in the Lok Sabha on 10.3.2000, there were127 profit making Central Public Sector Undertakings(CPSUs) as on 31.3.99, out of which 84 had declared dividend. Of the remaining 43 CPSUs 7 were set up under Section 25 of the Companies Act 1956 and were not expected to earn profit. In case of PSUs which have declared dividend during 1998-99, the position in terms of percentage of dividend declared by each of the PSU to their equity and post-tax profit is indicated at Annexure.
(c): The Finance Ministry has been issuing circulars and also advising Government nominee Directors to insist on compliance.
(d): Government nominees on the Board of Directors have been asked to insist on compliance of the directions regarding Payment of Dividend.
ANNEXURE TO LOK SABHA UNSTARRED QUESTION NO.4170 FOR REPLY ON 15.12.2000 REGARDING PAYMENT OF DIVIDEND BY SHRI RAMJEE MANJHI
STATEMENT SHOWING PERCENTAGE OF DIVIDENT DECLARED TO EQUITY & POST TAX PROFIT DURING 1998-99
(Rs. in Lakhs) - Sno. NAME OF THE COMPANY Dividend Equity Post Tax % of Dividend to Declared Profit Equity Post Tax Profit -
STEEL 1 FERRO SCRAP NIGAM LTD. 60 200 1041 30.00 5.76 SUB TOTAL 60 200 1041 30.00 5.76
MINERALS AND METALS - 2 BHARAT ALUMINIUM CO. LTD. 2300 48885 7632 4.70 30.14 3 HINDUSTAN ZINC LTD. 1796 42253 7632 4.25 23.53 4 KUDREMUKH IRON ORE CO.LTD 1586 63451 1853 2.50 85.59 5 MANGANESE ORE(INDIA) LTD. 307 1533 1371 20.03 22.39 6 NATIONAL ALUMINIUM COMPANY LTD. 7732 64431 24825 12.00 31.15 7 NATIONAL MINERAL DEVELOPMENT CORPORATION LTD. 3304 13216 14040 25.00 23.53 8 URANIUM CORPORATION OF INDIA LTD. 74 41982 367 0.18 20.16 SUB TOTAL 17099 275751 57720 6.20 29.62
COAL AND LIGNITE - 9 COAL INDIA LTD. 11568 722054 60620 1.60 19.08 10 MAHANADI COALFIELDLS LTD. 16269 39058 40631 41.65 40.04 11 NEYVELI LIGNITE CORPN. LTD 8984 179678 57537 5.00 15.61 12 NORTHERN COAL FIELDS LTD. 21282 57767 52943 36.84 40.20 13 SOUTH EASTERN COAL FIELDS LTD. 16612 65970 41565 25.18 39.97 14 WESTERN COALFIELDS LTD. 10398 29710 25890 35.00 40.16 SUB TOTAL 85113 1094237 279186 7.78 30.49
POWER 15 NATIONAL HYDRO ELECTRIC POWER CORPN.LTD. 1500 382500 30530 0.39 4.91 16 NATIONAL THERMAL POWER CORPORATION LTD. 65000 771255 281573 8.43 23.08 17 NORTH EASTERN ELECTRIC POWER CORPORATION LTD. 400 177715 5822 0.23 6.87 18 NUCLEAR POWER CORPN. OF INDIA LTD. 5044 414879 36153 1.22 13.95 SUB TOTAL 71944 1746349 354078 4.12 20.32
PETROLEUM 19 BHARAT PETROLEUM CORPN. LTD. 18750 15000 70602 125.00 26.56 -
STATEMENT SHOWING PERCENTAGE OF DIVIDENT DECLARED TO EQUITY & POST TAX PROFIT DURING 1998-99 (Rs. in Lakhs) - Sno. NAME OF THE COMPANY Dividend Equity Post Tax % of Dividend to Declared Profit Equity Post Tax Profit - 20 BONGAIGAON REFINERY & PETROCHEMICALS LTD. 1028 19982 3426 5.14 30.01 21 CHENNAI PETROLEUM CORPORATION LTD. 5149 14710 20493 35.00 25.13 22 COCHIN REFINERIES LTD. 2482 6893 33823 36.01 7.34 23 GAS AUTHORITY OF INDIA LTD. 29598 84565 105992 35.00 27.92 24 HINDUSTAN PETROLEUM CORPN. LTD. 24871 22559 90126 110.25 27.60 25 I.B.P. CO. LTD. 952 2215 3523 42.98 27.02 26 INDIAN ADDITIVES LTD 148 1972 855 7.51 17.31 27 INDIAN OIL BLENDING LTD. 10 40 1066 25.00 0.94 28 INDIAN OIL CORPORATION LTD. 50614 38931 221352 130.01 22.87 29 LUBRIZOL INDIA LTD. 1248 1920 4124 65.00 30.26 30 OIL & NATURAL GAS CORPORATION LTD. 78426 142593 275450 55.00 28.47 31 OIL INDIA LTD. 7847 14267 29160 55.00 26.91 SUB TOTAL 221123 365647 859992 60.47 25.71
FERTILIZERS 32 NATIONAL FERTILIZERS LTD. 1234 49058 4115 2.52 29.99 33 RASHTRIYA CHEMICALS AND FERTILIZERS LTD. 3311 55169 10564 6.00 31.34 SUB TOTAL 4545 104227 14679 4.36 30.96
CHEMICALS AND PHARMACEUTICALS 34 INDIAN PETRO CHEMICALS CORPN. LTD. 2482 24905 2936 9.97 84.54 35 KARNATAKA ANTIBIOTICS & PHARMACEUTICALS LTD. 30 149 149 20.13 20.13 36 RAJASTHAN DRUGS & PHARMACEUTICALS LTD. 11 107 43 10.28 25.58 SUB TOTAL 2523 25161 3128 10.03 80.66
HEAVY ENGINEERING 37 BHARAT BHARI UDYOG NIGAM LTD. 7 26604 8 0.03 87.50 38 BHARAT HEAVY ELECTRICALS LTD. 6119 24476 54464 25.00 11.23 39 BHARAT WAGON & ENGG. CO. LTD. 4 813 19 0.49 21.05 SUB TOTAL 6130 51893 54491 11.81 11.25
MEDIUM AND LIGHT ENGINEERING - 40 ANTRIX CORPORATION LTD. 154 100 769 154.00 20.03 -
STATEMENT SHOWING PERCENTAGE OF DIVIDENT DECLARED TO EQUITY & POST TAX PROFIT DURING 1998-99 (Rs. in Lakhs) - Sno. NAME OF THE COMPANY Dividend Equity Post Tax % of Dividend to Declared Profit Equity Post Tax Profit - 41 BALMER LAWRIE & CO. LTD. 489 1629 1683 30.02 29.06 42 BHARAT DYNAMICS LTD. 3879 11500 6227 33.73 62.29 43 BHARAT ELECTRONICS LTD. 1600 8000 5363 20.00 29.83 44 H T L LTD. 45 1500 684 3.00 6.58 45 HMT BEARINGS LTD. 131 873 84 15.01 155.95 46 I T I LTD. 542 8800 2710 6.16 20.00 SUB TOTAL 6840 32402 17520 21.11 39.04
TRANSPORTATION EQUIPMENT 47 GARDEN REACH SHIPBUILDERS & ENGINEERS LTD. 852 12384 4257 6.88 20.01 48 GOA SHIPYARD LTD. 175 1940 194 9.02 90.21 49 HINDUSTAN AERONAUTICS LTD. 2410 12050 17774 20.00 13.56 50 MAZAGON DOCK LTD. 325 19920 1623 1.63 20.02 SUB TOTAL 3762 46294 23848 8.13 15.77
CONSUMER GOODS 51 HINDUSTAN LATEX LTD. 28 1554 139 1.80 20.14 52 HINDUSTAN NEWSPRINT LTD. 454 8254 2108 5.50 21.54 SUB TOTAL 482 9808 2247 4.91 21.45
TEXTILES 53 NATIONAL HANDLOOMS DEVELOPMENT CORPORATION LTD. 15 1500 76 1.00 19.74 SUB TOTAL 15 1500 76 1.00 19.74
TRADING AND MARKETING SERVICES 54 C.M.C. LTD. 151 1515 731 9.97 20.66 55 CENTRAL COTTAGE INDUSTRIES CORPN. OF INDIA LTD. 21 1085 101 1.94 20.79 56 CENTRAL WAREHOUSING CORPN. 816 6802 4150 12.00 19.66 57 HANDICRAFTS & HANDLOOMS EXPORTS CORP.INDIA LTD 54 1082 159 4.99 33.96 58 HMT ( INTERNATIONAL ) LTD. 3 24 27 12.50 11.11 59 M M T C LTD. 1000 5000 1807 20.00 55.34 60 M S T C LTD. 55 220 216 25.00 25.46 -
STATEMENT SHOWING PERCENTAGE OF DIVIDENT DECLARED TO EQUITY & POST TAX PROFIT DURING 1998-99 (Rs. in Lakhs) - Sno. NAME OF THE COMPANY Dividend Equity Post Tax % of Dividend to Declared Profit Equity Post Tax Profit - 61 P E C LTD. 30 150 108 20.00 27.78 62 SPICES TRADING CORPORATION LTD. 8 150 140 5.33 5.71 63 STATE TRADING CORPN. OF INDIA LTD. 600 3000 1251 20.00 47.96 SUB TOTAL 2738 19028 8690 14.39 31.51
TRANSPORTATION SERVICES 64 AIRPORTS AUTHORITY OF INDIA 4168 33763 20841 12.34 20.00 65 CONTAINER CORPORATION OF INDIA LTD. 2925 6499 14065 45.01 20.80 66 DREDGING CORPN.OF INDIA LTD. 924 2800 4184 33.00 22.08 67 PAWAN HANS HELICOPTERS LTD. 1313 11377 6562 11.54 20.01 68 SHIPPING CORPORATION OF INDIA LTD. 4235 28230 20133 15.00 21.04 SUB TOTAL 13565 82669 65785 16.41 20.62
CONTRACT AND CONSTRUCTION SERVICES - 69 IRCON INTERNATIONAL LTD. 1114 495 5624 225.05 19.81 SUB TOTAL 1114 495 5624 225.05 19.81
INDUSTRIAL DEV. AND TECH. CONSULTANCY SERVICES - 70 BROADCAST ENGG.CONSULTANTS INDIA LTD. 7 37 25 18.92 28.00 71 EDUCATIONAL CONSULTANTS ( INDIA ) LTD. 31 125 151 24.80 20.53 72 ENGINEERS INDIA LTD. 2808 1872 11806 150.00 23.78 73 HOSPITAL SERVICES CONSULTANCY CORP. (INDIA) LTD 53 40 263 132.50 20.15 74 POWER GRID CORPORATION OF INDIA LTD 2000 304154 44442 0.66 4.50 75 RITES LTD. 200 200 902 100.00 22.17 76 TELECOMMUNICATIONS CONSULTANTS (INDIA) LTD. 1512 720 5380 210.00 28.10 77 WATER & POWER CONSULTANCY SERVICES(INDIA) LTD. 60 200 314 30.00 19.11 SUB TOTAL 6671 307348 63283 2.17 10.54
TOURIST SERVICES - 78 INDIA TOURISM DEV. CORPN.LTD. 236 6752 994 3.50 23.74 SUB TOTAL 236 6752 994 3.50 23.74
FINANCIAL SERVICES 79 INDIAN RAILWAY FINANCE CORPORATION LTD. 6496 23200 32611 28.00 19.92 -
STATEMENT SHOWING PERCENTAGE OF DIVIDENT DECLARED TO EQUITY & POST TAX PROFIT DURING 1998-99 (Rs. in Lakhs) - Sno. NAME OF THE COMPANY Dividend Equity Post Tax % of Dividend to Declared Profit Equity Post Tax Profit - 80 INDIAN RENEWABLE ENERGY DEVT.AGENCY LTD. 400 15435 1878 2.59 21.30 81 POWER FINANCE CORPORATION 10800 103045 54136 10.48 19.95 82 RURAL ELECTRIFICATION CORPN. LTD. 5000 68060 30020 7.35 16.66 SUB TOTAL 22696 209740 118645 10.82 19.13
TELECOMMUNICATION SERVICES 83 MAHANAGAR TELEPHONE NIGAM LTD. 18900 63000 129724 30.00 14.57 84 VIDESH SANCHAR NIGAM LTD. 7600 9500 132496 80.00 5.74 SUB TOTAL 26500 72500 262220 36.55 10.11 - GRAND TOTAL : 493156 4452001 2193247 11.08 22.49 -