PSU FAGMIL pays dividend of Rs 12.84 crore to central government

New Delhi [India], October 26 (ANI): FCI Aravali Gypsum and Minerals India Limited (FAGMIL), a Central Government Public Sector Undertaking, announced paymenet of Rs 12.84 crore to the union government, the Ministry of Chemicals and Fertilizers said in a release.

FAGMIL’s Chairman and Managing Director (CMD), Brigadier Amar Singh Rathore presented a dividend check of Rs 12,84,00,000 to the Chemical and Fertilizers Minister, Jagat Prakash Nadda.

The Union Minister appreciated the results achieved by the Company. The Minister also expressed the hope that the Company will grow exponentially contribute to the growth of the economy and generate higher dividends in coming years.

On this occasion, the CMD informed the Minister that the Company is in the process of diversifying into mineral exploration and mining of minerals other than Gypsum.

The FCI Aravali Gypsum and Minerals India Limited (FAGMIL) was incorporated under the Companies Act, 1956 as a Public Sector Undertaking on 14.02.2003 after being hived off the Jodhpur Mining Organisation (JMO) of Fertilizer Corporation of India Limited (FCIL).

The PSU is working towards becoming a leader in the Mining of strategic and critical minerals including gypsum for reclamation of land improving the health of the soil, contributing towards infrastructure development by supply of ROM gypsum to cement industries and producing various types of Fertilizers.

During the year 2021-22, the company produced and sold 4.11 Lakh Metric Tons (LMT) and 4.13 LMT of gypsum in comparison to 5.05 LMT and 5.05 LMT in 2020-21 respectively.

During the year 2021-22 up to October 2021, the company produced 2.96 LMT and sold 2.93 LMT of gypsum.

During the year 2021-22, the Company achieved sales turnover and profit before tax of Rs.41.44 crores (previous year Rs.37.81 crores) and Rs.15.57 crore (Previous year Rs.18.22 crore) respectively. The post-tax profit was Rs.11.59 crore (the previous year Rs.13.48 crore). The company paid Dividend of Rs. 12.60 crore in 2021-22 for the financial year 2020-21 and declared to pay a dividend of Rs.12.55 crore in 2022-23 for the financial year 2021-22, as per the information provided by the PSU on its website.