NMDC Limited : NMDC registers highest profit after tax (PAT) of Rs.7,265.39 crore for the year 2011-12
05/29/2012| 02:13am US/Eastern
Recommend:
· Iron ore production and sales - growth in volumes at
8% & 4% respectively.
· Interim dividend for 2011-12 200% paid. Final
dividend recommended 250%.
· Value addition - Setting up of steel plant at
Naganar; most of the packages awarded. Work on ground has
started for some of the packages.
· MoU signed for setting up slurry pipeline - providing
alternate evacuation route.
NMDC has posted PBT of Rs.10,759.47 crore and net
profit (PAT) of Rs.7,265.39 crore for the year 2011-12
against PBT of Rs.9,725.66 crore and PAT of Rs.6,499.22 crore
registering an improvement of 11% & 12% respectively over
last year i.e. 2010-11.
The production and sales of iron ore for the year
2011-12 have reached a level of 27.26 MT and 27.30 MT
respectively representing an increase of 8% and 4%
respectively in comparison to 2010-11 and posted turnover of
Rs.11,261.89 crore for the year 2011-12.
For the year 2011-12, an interim dividend @ 200% per
equity share has already been paid and today the Board of
Directors have recommended, payment of final dividend @ 250%
on the paid up equity share capital of the company subject to
shareholders approval. The total dividend for the year
2011-12 would be @ 450% per equity share.
The Earnings per share is at Rs.18.33 per share for the
year ended 2011-12 in comparison with that of the previous
year of Rs.16.39 per share - annualized.
The quantity of domestic sales of iron ore increased by
13% where as exports reduced by 85% for catering to the needs
of the domestic market.
The company has been pursuing all its expansion
programmes. NMDC as part of its forward integration programme
and value addition is setting up a 3 MTPA steel plant at
Nagarnar in Chhattisgarh, for which most of the major
packages have been finalized and awarded and work of some
packages have already started. On 23rd of May 2012, the
latest package, i.e, the Steel Melting Shop package was
awarded to SVAI, Austria.
For increasing evacuation of iron ore, on 24th May
2012, NMDC signed an MoU with RINL for development of a
slurry pipe line and for setting up a pellet plant at
Visakhapatnam.
As against an envisaged expenditure of Rs.2020 crore as
per Revised Estimates for 2011-12, the actual expenditure
achieved under various schemes was Rs.1534 crore against
Rs.729 crore for the year 2010-11. For the year 2012-13, an
expenditure of Rs.4656 crore is planned to be expended
including Rs.1200 crore for overseas acquisitions.
The annual account for 2011-12 was approved by the
Board of Directors of the Company under the Chairmanship of
Mr C.S. Verma, in its meeting held on 28.05.2012. On this
occasion, the Board of NMDC commended the performance of the
Company and hoped that all its stakeholders including
shareholders, employees, customers and Government would
continue their support in future also.
Speaking on the occasion, NMDC Chairman Mr. C.S. Verma
said: "NMDC has the potential and the resources to play
a key role in the industrial development of the country. In
the coming years iron ore production will have to grow
exponentially to cope up with demands of the customer
companies, and also NMDC's own steel plant. The
foundation for this growth will have to be laid in 2012-13
with substantial increase in output using internal resources
initially. NMDC collective deserves appreciation for
commendable financial results, but there is no scope for
complacency. The road ahead is full of opportunities which we
need to harness to NMDC's advantage."
Executive Director (Corporate Communications)
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