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Hindustan Copper Ltd. Posts increasing profit figures, ‘on a track of total turnaround’

Jun 1st, 2018 3:28 pm | By | Category: LATEST NEWS

Santosh Sharma CMD, HCL

Santosh Sharma

Hindustan Copper Limited of which Santosh Sharma the Chairman and Managing Director, HCL has been marching ahead in posting continuously increasing figures and company’s profit.Ever since Santosh Sharma has taken over as the CMD of HCL, the company has been on a track of total turnaround as far as its performance
In increasing profit and taking result oriented initatiatives are concerned.

Here are the Performance Highlights of HCLfor FY 2017-18

•Turnover of Rs 1719 crore has increased by 35% compared with last year.

•Profit before tax of Rs 122.69 increased by 29% compared with last year.

•EBDITA Rs 308 crore v/s last year Rs 246 crore.

•Total Copper sales volume was best in last seven years.

•Copper cathode production was 39% higher than the last year.

•Metal-in-Concentrate production was 4% higher than the last year.

•Reopened Kendadh mines at Jharkhand in Dec 2017.

•Commissioned Banwas mine (new mines) at Khetri Copper Complex, Rajasthan in June 2017.

•Capex expenditure of Rs 589 crore has increased by 47% over last year. This year target will more than Rs 700 crore.

•Creation of new two additional revenue streams by creating New Business Verticals which are not dependent on LME price fluctuations.

-Extraction of minerals like precious metals, magnetite and glass grade silica from tailings generated during copper ore beneficiation process – A commercial plant of annual capacity 3.3 million tonne will be commissioned at Malanjkhand (M.P) by July 2018. HCL has stock of more than 100 million of tailings

-Waste rock excavated as ore overburden at Malanjkhand (MP) to be manufactured as Railway quality ballast material and road construction. HCL has stock of around 50 million tones of such type of rocks.- Test work undertaken with Indian Railways.

It is to be mentioned that Hindustan Copper Ltd. has been the pioneer PSE in the country which adopted PM Modi’s advise as a policy and a vision and set extraordinary example to extend mutual support to the PSU world in doing healthy mutual business.The PM, Modi had urges the PSUs to extend mutual business support & cooperation in each others business which can help other PSUs to flurish too. Taking the PM’s idea ahead Santosh Sharma, CMD, HCL took the initiaves and singned MoU with MOIL Limited which is Schedule-A Miniratna CPSEs respectively under Ministry of Steel and Ministry of Minesand business Hindustan Copper Limited, the MoU was signed on 22nd April, 2018 at Balaghat mine of MOIL. In terms of the MoU, HCL will supply silica sand generated from its proposed copper ore tailings beneficiation plant (under construction) to MOIL for sand stowing operations in its Balaghat mine. At present, MOIL uses river sand for filling, which is essential for maintaining safety in underground mines.

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