OREANDA-NEWS. Interim dividend for 2012-13 300% paid. Final dividend recommended 400%. Total dividend for the year is 700% (previous year 450%).
• Q4 iron ore production and sales - growth in volumes at 37.5% & 28% respectively compared to CPLY.
• Turnover for the Q4 is up by 23.5% compared to CPLY.
For the year 2012-13, an interim dividend @ 300% per equity share has already been paid and today the Board of Directors have recommended, payment of final dividend @ 400% on the paid up equity share capital of the company subject to shareholders approval. The total dividend for the year 2012-13 would be @ 700% per equity share, which is the highest ever paid so far.
The Company achieved a record production and sales of iron ore for the 4th quarter
(2012-13) at 9.57 MT and 8.24 MT respectively representing an increase of 37.5% and 28% respectively in comparison to 4th 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% in the turnover of the 4th 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 1% and 4% respectively as compared to CPLY. The turnover for the year ended (2012-13) is Rs.10,704 crore which is lower by 5% 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 2nd and 3rd quarter of the year.
The PBT and PAT for the 4th 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 8% and 11% 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% and 13% lower respectively.