HINDUSTAN COPPER LIMITED

hcl-pays-dividend-for-2018-19,-highest-in-last-five-years

HCL pays dividend for 2018-19, highest in last five years

Union minister for mines Pralhad Joshi has received a dividend of Rs 36.59 crore on a share holding of 76.05% on behalf of the government from Santosh Sharma, CMD, HCL. Anil Mukim, Secretary (Mines) was also present on the occasion besides some senior HCL officials.

 

The total payout by HCL on account of dividend related to 2018-19 is Rs 58.00 crore consisting of dividend Rs 48.11 crore and dividend tax Rs 9.89 crore. This is the highest dividend paid by the company in the past five years. During 2018-19, the company recorded ore production of 41.22 lakh tonnes which was the highest ever in last 21 years.

10 Sep 2019
gail-&-hcl:-coincidences-of-non-extension

GAIL & HCL: Coincidences of non-extension

Having served as Director (Personnel) at Hindustan Copper Limited (HCL) for around ten years, Anupam Anand will have to leave the turf on August 04, 2019 as he was denied extension. Anand took over the charge on August 05, 2009. He still has eight months service before he retires on April 30, 2020.

One might call it a sheer coincidence that like Anupam Anand of HCL, Bhuwan Chandra Tripathy too has completed 10 years as GAIL CMD and will leave the turf six months ahead of attaining the superannuation age on January 31, 2020. 

31 Jul 2019
hcl-pays-dividend-for-2018-19,-highest-in-last-five-years

HCL pays dividend for 2018-19, highest in last five years

By IndianMandarins 10 Sep 2019

Union minister for mines Pralhad Joshi has received a dividend of Rs 36.59 crore on a share holding of 76.05% on behalf of the government from Santosh Sharma, CMD, HCL. Anil Mukim, Secretary (Mines) was also present on the occasion besides some senior HCL officials.

 

The total payout by HCL on account of dividend related to 2018-19 is Rs 58.00 crore consisting of dividend Rs 48.11 crore and dividend tax Rs 9.89 crore. This is the highest dividend paid by the company in the past five years. During 2018-19, the company recorded ore production of 41.22 lakh tonnes which was the highest ever in last 21 years.

gail-&-hcl:-coincidences-of-non-extension

GAIL & HCL: Coincidences of non-extension

By IndianMandarins 31 Jul 2019

Having served as Director (Personnel) at Hindustan Copper Limited (HCL) for around ten years, Anupam Anand will have to leave the turf on August 04, 2019 as he was denied extension. Anand took over the charge on August 05, 2009. He still has eight months service before he retires on April 30, 2020.

One might call it a sheer coincidence that like Anupam Anand of HCL, Bhuwan Chandra Tripathy too has completed 10 years as GAIL CMD and will leave the turf six months ahead of attaining the superannuation age on January 31, 2020. 

hind-copper:-net-profit-for-fy-2018-19-jumps-83%

Hind Copper: Net profit for FY 2018-19 jumps 83%

By IndianMandarins 28 May 2019

The audited financial result of Hindustan Copper Limited (HCL) for the financial year 2018-19 was approved by its Board of Directors in the meeting held on May 28, 2019. The Net Profit for the financial year 2018-19 was Rs 145.74 crore with an increase of 83% over last year.

 

The Company’s Net Revenue from operations was Rs 1816.25 crore in 2018-19 which is best ever since its inception and is 9% higher than Rs 1670.48 crore last year. 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. 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.

 

During the FY 2018-19, the Company 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. The achievement of Ore production is in line with the production ramp-up plan of the Company to 200 lakh tonne.

 

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. 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.

 

The Board of Directors has recommended payment of dividend @ 5.05% approx. on Net Worth, i.e. Re 0.52 per share on Rs. 5/- face value for the year 2018-19, for approval of shareholders in the Annual General Meeting.

hindustan-copper-signs-mou-for-fy-2019-20

Hindustan Copper signs MoU for FY 2019-20

By IndianMandarins 28 May 2019

Hindustan Copper Limited, a Mini Ratna-I CPSE, has signed a Memorandum of Understanding with the Ministry of Mines, Government of India, on Monday, outlining the performance targets  for the financial year 2019-20.

 

The MoU was signed between Anil Gopishankar Mukim (IAS), Secretary, Ministry of Mines, and Santosh Sharma, Chairman and Managing Director, HCL, in presence of Senior Officers of the Ministry.

 

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. 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.

hcl-records-77%-pbt-growth

HCL records 77% PBT growth

By IndianMandarins 12 Feb 2019

Hindustan Copper recorded a 77% PBT growth in Q3FY19 over the corresponding quarter in FY18. This was despite high volatility in LME copper prices and high input cost, said Santosh Sharma, CMD.

The Net Revenue from operations during the quarter was Rs 1361.48 crore as compared to Rs 1288.96 crore in the same period of 2017-18. The EBITDA margin during April-December’18 was 28% compared to 17% during the corresponding period of the previous fiscal.


At the production front, the growth momentum has been maintained. During the period April to Dec ’18, Copper ore production has been 30.11 lakh tonne as against 26.08 lakh tonnes in the corresponding period last fiscal, thus registering a growth of 15%.

hcl-adds-new-feathers-on-hat:-reopened-rakha-mine,-held-ground-breaking-ceremony-for-chapri-sidheswar-mines

HCL adds new feathers on hat: Reopened Rakha Mine, held ground breaking ceremony for Chapri-Sidheswar mines

By IndianMandarins 03 Feb 2019

The groundbreaking ceremony at Ghatsila Unit of HCL took place on 02 February for development of two new mines (Chapri- Sidheswar) and reopening of Rakha mine projects. Jharkhand CM Raghubar Das was the Chief Guest of the event. Bidyut Baran Mahato (LS MP from Jamshedpur), and Lakshman Tudu (Ghatsila MLA) were the Guests of Honour.

 

Hindustan Copper Limited CMD Santosh Sharma presided over the event. S K Bhattacharya, Director (Mining) HCL and Dinesh Shaw, Vice President, Zila Parishad were also present on the occasion.

 

Addressing a large gathering, Raghubar Das congratulated the Management of HCL for initiating the action for development of Chapri-Sidheswar mine which is a new mine and initiating process for re-opening of Rakha mine which was closed in 2001.

 

Speaking on the occasion Jharkhand CM assured the HCL management to extend all possible support for its expansion plan.

 

HCL CMD acknowledged the pro-active role of Bidyut Baran Mahato who had taken the issues with Prime Minister and the state CM for early approval and clearances from the Government. Sharma informed that Chapri and Rakha project have combined production capacity of 50 lakh tonne with an investment of Rs 1000 crore and will be implemented with “Zero Mine Waste” Philosophy. He underlined that these projects would create direct job opportunities for around 8000 people of the area.

 

HCL, the only Copper mining Company in India, in its Unit located at Ghatsila has planned to implement total five mine expansion projects to increase the mine capacity form current 04 to 72 lakh tonne with total capital investment of Rs 1600 crore.  The project is expected to take five years for completion. Successful implementation of the project will also reduce country's dependence on imported copper concentrate.

hindustan-copper’s-profit-increased-by-74%-in-h-1-fy-2018-19

Hindustan Copper’s profit increased by 74% in H-1 FY 2018-19

By IndianMandarins 13 Nov 2018

The Profit Before Tax of Hindustan Copper Limited (HCL) during H-1 period of FY 2018-2019 has increased to Rs 104.37 crore from Rs 60.03 crore in the corresponding period of the previous year, thus registering a growth of 74%. The Net Revenue from operations during H-1 of the current fiscal was Rs 887.26 crore as compared to Rs 858.26 crore in 2017-18 of the same period. The EBDITA margin during H-1 period of FY 2018-19 was 28% compared to 16% during corresponding period of the previous fiscal.

 

On the production front, the growth momentum has been maintained. During the period April to Sept 2018, Copper ore production was 19.49 lakh tonne as against 16.10 lakh tonne in the corresponding period of the last year, thus registering a growth of 19%.

 

In the financial results for the 2nd Quarter taken on record by the Board, HCL has achieved a net profit of Rs. 53.40 crore, as against Rs. 43.80 crore in the corresponding quarter of previous fiscal.

appointment-of-director,-hcl-cleared

Appointment of Director, HCL cleared

By IndianMandarins 26 Sep 2018

The Appointment Committee of the Cabinet, on Wednesday, cleared the appointment of Arun Kumar Shukla (ED, NMDC) to the post of Director (Operations) Hindustan Copper Limited (HCL) till his superannuation on 31 July 2023. PESB had selected him for the post on 20 June 2018.

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