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NMDC’s Best Ever Performance since Inception

NMDC’s Best Ever Performance since Inception.

As per the report for the year 2013-14, dividend @ 850% per equity share has been paid which is the highest ever dividend paid so far.The Company achieved a record production and sales of iron ore for the 4th quarter (2013-14) at 9.86 MT and 9.40 MT respectively representing an increase of 3% and 14% respectively in comparison to 4th quarter of 2012-13. This was accomplished inspite of the slurry pipeline not being available for considerable time. The Company also recorded a growth of 21% in the turnover of the 4th quarter (2013-14) at Rs.3,884 crore compared to CPLY of Rs.3,204 crore.

The production and sales of iron ore for the year ended 2013-14 was 30.02 MT and 30.50 MT respectively which is higher by 10% and 16% respectively as compared to CPLY. The turnover for the year ended (2013-14) is Rs.12,058 crore which is higher by 13% compared to Rs.10,704 crore in 2012-13.

This was possible mainly due to increase in sales quantity by 4.23 MT. The PBT and PAT for the 4th quarter 2013-14 is Rs.2,998 crore and Rs.1,962 crore in comparison to CPLY of Rs.2,245 crore and Rs.1,465 crore which is 34% and 34% higher respectively. The PBT and PAT for the year ended 2013-14 is Rs.9,759 crore and Rs.6,420 crore in comparison to year ended 2012-13 of Rs.9,465 crore and Rs.6,342 crore which is 3% and 1% higher respectively.

The capital expenditure incurred during the year under various schemes is Rs. 2,518 crore. NMDC has planned to spend an amount of Rs.3,495 Crs in the FY 2014-15. The annual accounts for 2013-14 were approved by the Board of Directors of the Company under the Chairmanship of Mr Narendra Kothari, in its meeting held on 30.05.2014.

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 and bring laurels for the Company.

Speaking on the occasion, NMDC Chairman Mr. Narendra Kothari said: “NMDC’s long cherished dream of touching 30 MT production of Iron Ore has been fulfilled this year. NMDC’s role in providing raw material security for the steel industry has strengthened further.

Though NMDC is producing around 22% of the Country’s iron ore production, it would be our endeavour to touch 50% of the Country’s iron ore production in the near future”.