KIOCL spearhead in getting “Rajabasha Kirti Shield” for tolic (undertakings), Bengaluru
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.
KIOCL PAYS `6.28 CRORES DIVIDEND TO THE GOVERNMENT
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.
39TH AGM OF KIOCL AT BENGALURU
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.
PURE DRINKING WATER FACILITY TO VIVEKANANDA VIDYA KENDRA, HOSKOTE, BENGALURU
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.