Adding another feather to its cap, the NMDC ltd was declared the “Most Efficient Navratna Award” in non-manufacturing category for the year 2015 by Dalal Street Investment Journal (DSIJ), a press statement of the NMDC informed on Saturday.
NMDC ltd, India’s largest iron ore producer and exporter in public sector, has several sprawling mines at Bailadila hills in Naxal-infested Dantewada district in Chhattisgarh where it produces more than two-third of its total annual iron ore output.
Devinder Singh Ahluwalia, Director Finance, NMDC received the award from Dr. Mahesh Sharma, Union Minister of State for Tourism, Culture & Aviation, at a function.
Receiving the award Ahluwalia remarked, “Rewards such as these are the result of a combination of factors– employees dedication, support of the Central and State governments where NMDC operates and also the conducive local atmosphere which enables NMDC to put its best foot forward. NMDC shall try and live up to the expectations of its stakeholders. This award revalidates NMDC’s strong fundamentals”.
It may be recalled that NMDC had closed the financial year 2014-15 with a record turnover of Rs.12356 crores, a PBT of Rs 9768 crores and PAT of Rs. 6422 crores taking the Company’s net worth to Rs 32326 crores, establishing a Book Value per share of Rsv81.54, paying a total dividend of Rs. 3390 crores.
The DSIJ PSU Awards are presented in various categories to ‘celebrate the contribution of the Kohinoors of Modern India’. Incidentally, this is the second award won by NMDC within a month.
Established in 1958 as a Public Sector Undertaking to explore, develop and exploit mineral resources other than fuel oil and atomic minerals, NMDC is engaged in mining of Iron ore, Magnesite and Diamonds. NMDC is presently producing over 30 million tonnes of iron ore from 3 fully mechanized mines in Chhattisgarh and Karnataka State.