MECON CMD AK Tyagi, on Tuesday presented a cheque of Rs90.9 crore as dividends to the Union Minister for Steel, Narendra Singh Tomar, at Udyog Bhawan in Delhi. The company also declared 20 per cent dividend on equity share capital amounting to Rs8.03 crore and 5 per cent dividend on preference share capital amounting to Rs1.06 crore. Joint Secretary and PS to Union Minister of Steel Aruna Sundararajan along with Director (Commercial) and other senior officials of MECON were also present at the occasion.
For the Financial Year 2014-15, MECON achieved annual turnover of Rs389.92 crore and earned Profit Before Tax of Rs33.01 crore. The Profit After Tax of the company is Rs20.27 crore. For the financial year (FY) 2014-15, the company paid Equity Dividend at 20 per cent on paid-up equity share capital amounting to Rs8.03 crore. After a long gap of 13 years, this is the fourth consecutive year, the company has paid equity dividend to Government of India.
In addition, the company has paid Preference Dividend at 5 per cent of paid-up preference share capital amounting to Rs1.06 crore. Thus, the total dividend paid for financial year (FY) 2014-15 is Rs9.09 crore. The total paid up capital of the company as on 31st March, 2015 is Rs52.74 crore consisting of Equity Share Capital of Rs40.14 crore and Preference Share Capital of Rs12.60 crore. Net worth of the company stands at Rs408.87 crore as on 31st March, 2015. The company has contributed Rs89.09 crore to the national exchequer for the FY 2014-15.