6th January, 2003
Ministry of Steel


MOIL PAYS 27 PER CENT DIVIDEND FOR 2001-02


Manganese Ore (India) Limited (MOIL), a public sector enterprise of the Steel Ministry, has paid 27 per cent dividend to the Government for the year 2001-02. The Minister for Steel, Shri B.K.Tripathi today received a dividend cheque for Rs. 3.37 crore from the Chairman-cum-Managing Director of the company Shri D.K.Sahni. The Secretary, Steel, Shri J.S.Gill was present on the occasion. The company paid 20 per cent dividend to its shareholders for consecutive 8 years till 1999-2000. In view of better performance, it is giving higher dividend of 27 per cent for the last 2 years.

MOIL during the year 2001-02 achieved a turnover of Rs. 167.92 crore and earned Rs. 30 crore profit before tax. The company is also paying Rs. 39.08 lakh dividend to the Government of Maharastra and Rs. 36.46 lakh to the Government of Madhya Pradesh.

MOIL is the single largest producer of high-grade manganese ore in the country. During the period April-December 2002 the turnover and profit before tax of the company were Rs. 128.53 crore and Rs. 18.42 crore respectively. It has recorded better performance in all areas of operation during this period and poised to achieve excellent rating for the eighth consecutive year.

   
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