Hindustan Copper pays Rs74.20 crore as dividend to govt

“Hindustan Copper Ltd, a Miniratna Category-I PSU (Schedule A), under the Ministry of Mines, has paid a dividend of Rs.74.20 crore to the Government of India for FY 2021-22 being 30.01 % of Profit After Tax (PAT) in compliance of DIPAM guidelines. This is equivalent to 23.20% of equity share capital,” said the Ministry of Mines in a press release. 

Total dividend pay-out to all shareholders was ₹112.17 crore. The dividend per share was the highest ever declared by the company. 

“Earlier, the dividend was approved by the shareholders of the company at 55th Annual General Meeting held in September, 2022. Total dividend pay-out to all shareholders is Rs.112.17 crore. The dividend per share is the highest ever declared by the company,” the ministry added. 

“During FY’22, the company achieved the highest-ever net turnover of ₹1,812 crore and Profit Before Tax of ₹381.76 crore. The company is currently implementing its mine expansion plan to achieve 12.2 million tons per annum ore production,” the ministry said. 

Hindustan Copper, a public sector undertaking, is under the administrative control of the mines ministry. It is the country’s only vertically integrated copper producing company as it manufactures copper right from the stage of mining to beneficiation, smelting, refining and casting of refined copper metal into downstream saleable products. 

HCL also produces gold silver, nickel sulphate, selenium, tellurium and fertilizer as by products. It is the first Indian Copper Producer to be accredited with ISO 9002 certification for Continuous Cast Rod Manufacturer at its Taloja Plant and for manufacture of cathode at its refineries both at Indian Copper Complex, Ghatsila, Jharkhand and Khetri Copper Complex, Khetri, Rajasthan.