KIOCL spear­head in get­ting “Ra­jabasha Kirti Shield” for tolic (un­der­tak­ings), Ben­galuru

Resource Digest - - CONTENTS -

Shri Malay Chat­ter­jee, CMD and Chair­man TOLIC (Un­der­tak­ings), Ben­galuru re­ceived the “Ra­jabasha Kirti Shield” from Shri Pranab Mukher­jee , Pres­i­dent of In­dia at Vi­gyaan Bha­van, New Delhi on 14.09.2015.

TOLIC (Un­der­tak­ings), Ben­galuru has been ad­judged first for the com­mend­able per­for­mance in im­ple­ment­ing the Of­fi­cial Lan­guage Pol­icy of the Union dur­ing the year 2014-15. Ear­lier, TOLIC (Un­der­tak­ing), Ben­galuru had bagged the Ra­jab­hasha award Third prize for the year 2011-12 and Sec­ond prize for the year 2013-14.


Sri Chat­ter­jee handed over the Div­i­dend Cheque of Rs 6.28 crores to the Hon’ble Min­is­ter of Mines and Steel, Sri Naren­dra Singh To­mar for the fi­nan­cial year 2014-15, at the side­lines of FIMI’s In­ter­na­tional Min­ing, Ex­plo­ration Con­ven­tion and Trade Show (MIN­ING MAZMA - 2015) at In­ter­na­tional Ex­hi­bi­tion Cen­tre on 24th Septem­ber 2015 at Ben­galuru.

The Hon’ble Min­is­ter re­ceived the Div­i­dend Cheque from Sri Chat­ter­jee in the pres­ence of Sri Bal­ven­der Ku­mar, IAS, Sec­re­tary- Mines and the Func­tional Direc­tors of the Com­pany at

its ex­clu­sive stall in the min­ing ex­hi­bi­tion and ex­pressed his wishes for the fast track al­lot­ment of iron ore mines by the Gov­ern­ment of Kar­nataka.

Dur­ing the fi­nan­cial year 2014-15, KIOCL re­ported PBT of 31.26 crores. The Share­hold­ers at the AGM held on 7th Septem­ber 2015 at Ben­galuru had ap­proved the pay­ment of div­i­dend @ 20.59% of PAT for the fi­nan­cial year 2014-15.


The 39th AGM of KIOCL Ltd. was held on 07.09.2015 at its Reg­is­tered Of­fice at Ben­galuru. Dur­ing the AGM, the share­hold­ers adopted the An­nual Ac­counts for FY 2014-15 and ap­proved the div­i­dend pay­ment @20% of years profit pro­posed by the Board of Direc­tors.

Ad­dress­ing the share­hold­ers, CMD, KIOCL Shri Chat­ter­jee high­lighted fis­cal year 2014-15 was ex­tremely chal­leng­ing for global busi­ness due to slow down in the Chi­nese econ­omy and the fall­ing crude oil prices. Chi­nese steel ex­ports surged to un­prece­dented lev­els of over 100 mil­lion tons in the fis­cal. Fur­ther, the devaluation has made steel ex­ports from China cheaper. In re­sponse to the devaluation, the In­dian Gov­ern­ment has hiked the im­port duty on se­lected prod­ucts of steel. Fur­ther, Chat­ter­jee brought to the no­tice of the share­hold­ers that in re­cent years new pel­let plants have been mush­room­ing in the coun­try and the ca­pac­i­ties have al­ready crossed 93 mil­lion tons in­clud­ing those un­der com­mis­sion­ing stage. This has been a se­vere blow on the com­pany’s ex­is­tence due to lack of cap­tive mines & the lo­gis­tics cost.

Amidst chal­lenges the per­for­mance af­fected sig­nif­i­cantly with years pro­duc­tion & dis­patches drop by al­most 54% & 58% re­spec­tively on Y-O-Y ba­sis stated by Shri Chat­ter­jee. Dur­ing the year gross in­come stood at Rs 628.84 crores, while net profit was Rs 30.82 crores.

He touched upon Com­pany’s plan un­der “Make in In­dia” pro­gramme to en­ter into tolling ar­range­ments wherein im­ported ore/con­cen­trate is con­verted into pel­let and fin­ished prod­uct will be ex­ported back to the over­seas cus­tomers. KIOCL is in the process of set­tling new pos­si­bil­i­ties be­tween Iran and In­dia Trade re­la­tions.

Sri Chat­ter­jee dur­ing his ad­dress to the gath­er­ing in­formed the share­hold­ers that ex­ten­sively work­ing to re­build and reinventing through ac­cel­er­ated se­lec­tion and fo­cus is plan­ning to in­vest in core and new busi­ness. The Com­pany has al­ready di­ver­si­fied in the field of O & M ser­vices, Min­eral ex­plo­ration field etc. It is also pro­posed to ex­pand its op­er­a­tion in other parts of the coun­try by set­ting up new pel­let plant on BOO/JV ba­sis which are re­quire­ment of the day.


Un­der Cor­po­rate So­cial re­spon­si­bil­ity, KIOCL has pro­vided pure drink­ing wa­ter fa­cil­ity with Re­verse Os­mo­sis to Vivekananda Vidya Ken­dra, Hoskote lo­cated on the out­skirts of Ben­galuru. The school was es­tab­lished in 1986 and around 1800 poor chil­dren are study­ing in this school from ru­ral ar­eas. Drink­ing wa­ter fa­cil­ity was ar­ranged 20 years back with the help of “Danida Scheme”. But later on, the bore well had dried up as ground level was go­ing year by year. There was acute short­age of wa­ter and 1800 stu­dents and around 100 staffs were fac­ing hard­ship to meet wa­ter re­quire­ment.

KIOCL has pro­vided drink­ing wa­ter fa­cil­ity with Re­verse Os­mo­sis in­clud­ing Bore well and other fa­cil­i­ties like wa­ter tank, build­ing for RO plant, wa­ter bot­tles for stu­dents, steel wa­ter con­tainer etc at a cost of Rs.10 Lakhs. This has re­sulted in re­solv­ing the long pend­ing wa­ter prob­lem in the school. This project has made long term im­pact on the school since it will meet the pure drink­ing wa­ter re­quire­ment of not just present gen­er­a­tion but also for fu­ture gen­er­a­tions in com­ing days.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.