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KIOCL FY profit Rs 411 Cr is best in last one & half decades

KIOCL-FY-profit Rs-411-Cr-is-best-in-last-one--half-decades
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Mangaluru: The Board of KIOCL, a CPSU under the Ministry of Steel, approved the Financial Results on 24.05.2022 for the Fourth Quarter and the Financial year that ended on March, 31. KIOCL continued its march in ramping up the financial performance and reported the highest Turnover largely due to better sales realisation and strong growth as well as the adoption of Cost Control Measures during FY 2021-22.

Key Highlights of Performance – F Y 2021-22

–   Total Revenue earned is Rs. 3006.45 Crores – as against Rs.2376.44 Crores, in FY 21 i.e., up by 26.51%. Operating EBITDA for the year grew up by 0.41% Y-o-Y to Rs. 454.42 Crores.

–    Profit before Tax – Rs. 411.03 Crores –  up by   0.20%

–    Profit after Tax – Rs. 313.41 Crores against Rs. 301.17 Crores in FY 21,  up by 4.06%.

–    Pellet Production – 2.030 Million Tons.

–    Pellet Dispatches – 2.072 Million Tons.

–   Export of Pellets – 2.032 Million Tons and Domestic sales 0.40 Million Tons.

T. Saminathan, CMD, KIOCL Ltd., informed that the Pellet Plant continued to perform better with many initiatives, taken by the Company, like effective utilization of coastal transportation, Indigenization of various raw materials/spares, proper Inventory Management System, etc., thereby reducing input cost and increasing the realisation.

CMD also stated that despite the challenges caused by the pandemic, production activities continued uninterruptedly with the teamwork of its dedicated employees, and guidance from the Board and the Ministry of Steel.

Operation  &  Market Scenario

CMD further informed that in Financial Year 2021-22, KIOCL Ltd. produced 2.030 Million Tonnes and dispatched 2.072 Million Tonnes of Pellets, out of which 2.032 Million Tonnes of Pellets were exported, during the year.

This also helped KIOCL to expand its exports to European countries viz; Austria, Finland, Poland, Switzerland and also  Iran, Japan,  South Korea, Oman, in addition to regular international markets at  China,  Indonesia, Malaysia, Brazil etc., besides Domestic Markets.

He also highlighted the highest no. of Shipments and quantities of Pellets dispatched ie; 3.80 MT., in the month of March 2022

Dividend

The Board recommended a final dividend of Rs 0.79 per Equity Share, subject to the approval of the Shareholders at the Annual General Meeting in addition to the Interim dividend of Rs 0.98 per Equity Share already paid.

Read more

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T. Saminathan takes charge as CMD of KIOCL Ltd

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