NMDC declares highest-ever dividend for the year 2012-13
For the year 2012-13, an interim dividend at the rate of 300 per cent per equity share has already been paid and today the board of directors have recommended, payment of final dividend at the rate 400 per cent on the paid up equity share capital of the company subject to shareholders approval. The total dividend for the year 2012-13 would be at 700 per cent per equity share, which is the highest-ever paid so far.
The company achieved a record production and sales of iron ore for the fourth quarter (2012-13) at 9.57 MT and 8.24 MT respectively representing an increase of 37.5 per cent and 28 per cent respectively in comparison to fourth quarter of 2011-12. This was accomplished inspite of the slurry pipeline not being available at all for evacuation. The company also recorded a growth of 23.5 per cent in the turnover of the fourth quarter (2012-13) at Rs 3,204 crore compared to CPlY of Rs 2,595 crore.
The production and sales of iron ore for the year ended 2012-13 was 27.184 MT and 26.274 MT respectively which was marginally lower by one per cent and four per cent respectively as compared to CPlY. The turnover for the year ended (2012-13) is Rs 10,704 crore which is lower by five per cent compared to Rs 11,262 crore in 2011-12. This was mainly due to incessant rainfall as well as low off-take of iron ore by customers and evacuation problems in the Bailadila region during the second and third quarter of the year.
The PBT and PAT for the fourth quarter 2012-13 is Rs 2,245.31 crore and Rs 1,464.95 crore in comparison to CPlY of Rs 2,439.24 crore and Rs 1,642.28 crore which is eight per cent and 11 per cent lower respectively. The PBT and PAT for the year ended 2012-13 is Rs 9,465.12 crore and Rs 6,342.37 crore in comparison to year ended 2011-12 of Rs 10,759.47 crore and Rs 7,265.39 crore which is 12 per cent and 13 per cent lower respectively.
The company has been pursuing its growth programme vigorously. NMDC, as part of its forward integration programme and value addition, is setting up a three MTPA steel plant at Nagarnar in Chhattisgarh, for which most of the major packages have been finalised and awarded. So far, cumulative orders worth Rs 13,475 crore have already been placed and expenditure of over Rs 2,346 crore has already been incurred. Work on some of the packages have already started and the project is expected to be completed by 2015-16.
The capital expenditure incurred during the year under various schemes is Rs 1607.24 crore. For the year 2013-14, an expenditure of Rs 2720 crore is planned to be expended.
The annual accounts for 2012-13 were approved by the Board of Directors of the Company under the Chairmanship of CS Verma, in its meeting held on may 29. 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 CS Verma said: “NMDC has been in the forefront for providing raw material security to the steel industry. In spite of challenges, NMDC is adhering to play the pivotal role in the industrial development of the country. With the increase of demand of iron ore from the domestic steel industry, NMDC collective would be committed to produce 48 MT iron ore production by 2014-15.”