Business Bureau :
The 57th Annual General Meeting (AGM) of MOIL Limited, a city based Miniratna schedule ‘A’ company under administrative control of Ministry of Steel, Government of India, was held on Friday. The meeting was chaired by M P Chaudhari, CMD, MOIL. In his speech to the shareholders, he apprised that MOIL has achieved highest-ever turnover of Rs 1440.67 crore during 2018-19, registering a growth of 8.86% over previous year’s turnover of Rs 1323.46 crore.
The company has recorded increase in Profit Before Tax (PBT) at 719.75crore, which is higher by about 11 per cent in comparison to last year. He also mentioned that the company has produced 13.01 lakh tonne of various grades of manganese ore during financial year 2018-19, which is highest ever production in last 10 years. MOIL has also registeredhighest ever sales and production of non-fines manganese ore during the financial year 2018-19. He further mentioned about starting of a new mine at Parsoda in Nagpur district with annual production capacity of 40,000 MT.
The shareholders declared payment of final dividend at 30 per cent (Rs 3 per equity share) which is in addition to Interim Dividend of Rs 3 per equity shares, already paid to the shareholders. T K Pattnaik, Director (Commercial), Dipankar Shome, Director (Production and Planning) and Rakesh Tumane, Director (Finance), Usha Singh, Director (Human Resource), Independent Directors Sangita Gairola, Sunanda Prasad V M Chariar, G Latha Krishna Rao were also present. Neeraj D Pandey, Company Secretary proposed the vote of thanks.