MOIL, a miniratna schedule-A PSU under the ministry of steel, Government of India, has declared 35% final dividend for the year 2013-14.

The final dividend cheque of Rs 420.8 million was presented to the union minister for steel, mines and labour and employment,  Narendra Singh Tomar here today New Delhi by  G.P Kundargi, chairman-cum-managing director of MOIL in the presence of  V.K Thakral, additional secretary & financial advisor (AS&FA) and Urvilla Khati, joint secretary, ministry of steel respectively.  M.P Chaudhari, director (finance) and  A.K Jha, director (production & planning) of MOIL and other senior officials of the company were also present.

During the year 2013-14, the production of manganese ore was 11.35 lakh tons. The company has achieved a total income of Rs 13.24 billion during the year. It has earned Profit Before Tax (PBT) of Rs 7.69 billion and Profit After Tax (PAT) of Rs 5.09 billion during the financial year. MOIL's shares are also listed on National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE), Mumbai.

At present, MOIL's paid-up capital is Rs 1.68 billion out of which 71.57% is held by Government of India, 4.62% by Government of Maharashtra, 3.81% by Government of Madhya Pradesh and rest 20% by public.

MOIL is the largest producer of Manganese ore in the country. The company has been showing excellent performance continuously for the last several years. Hon'ble steel minister assured full support of the ministry of steel to MOIL for better performance and further development and grant of mining leases in favour of the company.