Friday 24th May 2024

Santosh Sharma, CMD, HCL Addresses Press Conference

May 30th, 2019 6:52 pm | By | Category: LATEST NEWS

Santosh Sharma CMD, HCL

Santosh Sharma

Pointers of CMD’s address:

1.Despite high volatility in LME copper prices and high input cost, the Net Profit of the Company for the financial year 2018-19 has increased by 83% to Rs 145.74 crore. This is primarily due to our commitment to increase our Copper Ore production and to focus on sale of high margin products.

2.During the Q4, HCL has posted Profit Before Tax of Rs 74.63 crore compared with Rs 33.88 crore in Q4 of the corresponding period last year.

3.The Company’s operations have posted significant increase in EBIDTA margin, during FY 19, the margin was 30% compared to 19% achieved in the last year. Operating Profit Margin during FY 19 was 14.19% compared to 6.23% achieved last year.

4.The Board of Directors has recommended payment of dividend @ 10.4% of the equity shar of Rs. 5/- face value for the year 2018-19, for approval of shareholders in the Annual General Meeting.

5.During the FY 2018-19, the Company has also achieved a robust physical performance. The Copper Ore production was 41.22 lakh tonne which is highest in last 21 years and 12% higher than last year’s 36.75 lakh tonne.

6.The achievement of Ore production is in line with the production ramp-up plan of the Company to 200 lakh tonne.

7.Total Copper sales volume was 38,273 MT which is the highest in last 9 years and 5% higher than last year’s 36,435 MT. During 2018-19, the Company earned record foreign exchanges of Rs 842.67 crore as against Rs 340.69 crore during FY 2017-18 which is mainly due to increased export volume of Copper Concentrate. During the year, Capex was Rs 592.43 crore.

8.The Malanjkhand underground mine project which is the flagship expansion project of the Company is progressing as per schedule. It is planned to commence production from the underground mine in FY 2019-20.

9.In this fiscal we plan commence work to re-open Rakha mine and also start Chapri-Sidheswar Mines at Ghatsila. Bids for Malanjkhand and Chapri mine has been received we expected to finalize the successful parties very soon.

10.For the financial year 2019-20, target of Copper ore production is 51.5 lakh tonne which is 25% higher than the last year’s achievement of 41.22 lakh tonne. The target of ore production is in line with the HCL’s production ramp-up plan to 200 lakh tonne.

11.The target for revenue from operations has been set at Rs 2000.0 crore and Capex at Rs 600.0 crore to be spent mainly for mine expansion projects of HCL.

Government News

Comments are closed.