KIOCL production grew by 35% to reach 1.710 MnT and dispatch 1.65 MnT in FY14. Its present Pellet capacity is at 3.5 MnT and also keen to take O&M contract for NMDC’s upcoming 1.8 MnT pa Beneficiation and 1.2 MnT pa Pelletisation plants at Donimalai.
In the 38th AGM of KIOCL, a Schedule ‘A’ Mini Ratna status Company under Steel Ministry, Government of India, was held on 06 Aug, 2014 at its registered office in Bangalore. CMD, KIOCL, Sri Malay Chatterjee along with his colleagues on the board had attended the meeting. Addressing the shareholders, CMD, Shri Chatterjee highlighted that the global and domestic scenario particularly touching upon the Iron & Steel sector and Pellet Industry. Shri Chatterjee also highlighted the operational performance of the company, which grew by 35% on Y-o-Y basis with production and dispatch of 1.710 MnT and 1.615 MnT of Pellets respectively.
Company’s financial performance has also improved with growth of 32% in gross income at INR 1,532.37 crore and PBT of INR 61.40 crore vis-à-vis INR 32.34 crore, PAT of INR 39.94 crore vis-a-vis INR 31.05 crore, thereby recording a growth of 29% over FY13.
Shri Chatterjee further mentioned that the company is exploring new market for sale of Pellet and has signed MOU with APMDC & RINL for exploration and exploitation of Iron ore deposit in Andhra Pradesh state; the exploration activities are expected to commence shortly in the PL area. The company is expecting award of O&M contract for NMDC’s upcoming 1.8 MnT pa Beneficiation and 1.2 MnT pa Pelletisation plants at Donimalai. KIOCL is also in discussion with MRPL, Mangalore seeking a contract for the O&M of its Coke Handling System.
Company is in active discussions with SAIL for setting up of 2 MnT pa Pelletisation plant for SAIL at Bokaro Steel Plant premises on BOO basis.
It was also mentioned that KIOCL plans to emerge also as a leading Project Management Consultant (PMC) in the areas of civil construction work. It is also exploring other business diversification activities such as e-commerce, generation of solar energy etc.
At the AGM, shareholders approved to the proposal of payment of dividend for FY14. Shri Chatterjee also emphasized that with the present diversification efforts of the company based on its expertise and core competency shall emerge as a strong market leader in Pelletisation field in future.
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