Hindustan Copper Limited has earned Profit before tax of INR 472.92 crore for the financial year 2011-12 which is highest ever since inception. The Company has paid INR 92.14 crore as dividend to Government of India for the year 2011-12.
Ore Production in 2011-12 at 3.48 million tonnes is 2nd highest in last 13 years.
The CCEA in its meeting held on 14.09.2012 had inter alia approved the disinvestment of 9.59% paid up equity (88728406 shares) of HCL out of government of India holdings of 99.59%. The issue of HCL opened on 23.11.2012 and 51604148 equity shares of the company (approximately 5.58% of the paid up equity capital) were sold through Stock Exchange mechanism. Now Govt. of India’s shareholding in HCL is 94.01%.
The Company has rolled out mine expansion plan to increase mine production to 12.4 million tonnes by financial year 2017-18. The plan envisages expansion of Malanjkhand, Khetri, Kolihan and Surda Mines; re-opening of Rakha and Kendadih Mines; & development of new mines namely Banwas and Chapri-Sidheswar
Source - HCL
