KIOCL Reports Strong Performance in 2020-21
KIOCLKIOCL

KIOCL Reports Strong Performance in 2020-21

Indian iron ore pellet maker KIOCL Limited said that it continued its march in ramping up performance & reported the highest turnover in FY 2020-21 largely

Indian iron ore pellet maker KIOCL Limited said that it continued its march in ramping up performance & reported the highest turnover in FY 2020-21 largely due to better sales realisation & strong growth in Q4. KIOCL CMD Mr MV Subba Rao said “Company’s Financial Performance for FY’21 was strong due to high sales realization and adoption of Cost Control Measures. Despite tough challenges caused by the worst-ever pandemic, production activities continued uninterruptedly with the teamwork of its dedicated employees, guidance from the Board and Ministry of Steel. He also mentioned that the Company is expected to achieve MOU ratings of above 80%. Marginal drop in production was mainly due to disturbance like severe rains, poor visibility at the sourcing point of Iron Ore Fines which resulted in a short supply of raw materials.”

Key Highlights - FY 2020-21

1. Total Revenue earned is INR 2477.8 crores as against INR 2056.5 crores in FY 20, up by 20.49 %

2. Profit before Tax INR 410.2 crores as against INR 63.7 crores in FY20, up by 544%

3. Profit after Tax INR 301.2 crores against INR.43.5 crores in FY20, up by 593%

4. Pellet Production achieved 2.21 million tonnes as against 2.37 million tonnes of the previous FY

5. Dispatches 2.311 million tonnes as against 2.356 million tonnes of previous FY

6. Export of Pellets 1.84 million tonnes & Domestic sales 0.46 million tonnes

KIOCL has continued its efforts to expand Pellet Market to different International Markets like Brazil, MENA countries, etc. The share of Chinese market was 44%, MENA countries 41%, and balance to Brazil, Malaysia, etc.

No stories found.
SteelGuru Business News
www.steelguru.com