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SPMCIL pays Rs 215.48 crore dividend to govt

Thursday - January 14, 2021 8:03 pm , Category : BUSINESS
New Delhi, Jan 14 (IANS) The Security Printing and Minting Corporation of India Ltd (SPMCIL) has paid a final dividend of Rs 215.48 crore to the government for financial year 2019-20, being 5 per cent of net worth of the company as at March 31, 2020, in compliance of DIPAM guidelines.
The payout is 41 per cent of the net profit of the miniratna company that functions under the administrative control of the Department of Economic Affairs.
The dividend cheque was presented to Finance Minister Nirmala Sitharaman by SPMCIL Chairman and Managing Director Tripti P. Ghosh, along with Director (Technical) Ajai Kumar Srivastav, in presence of Economic Affairs Secretary Tarun Bajaj, and Senior Economic Advisor (C&C), DEA, Dr. Shashank Saksena.
SPMCIL has achieved the targets in the production of bank notes, coins, security paper, passports, security inks and other security products during the year 2019-20.
It produced 9,824 million pieces of bank notes, 3,282 million pieces of circulating coins, 7,010 metric ton security paper, and 851 MT of Security Inks in 2019-20.
During 2019-20, the revenue from operations of the company stood at Rs 4,966 crore and profit before tax increased to Rs 1,026.79 crore. SPMCIL has also achieved "Excellent" grading for Corporate Governance from Department of Public Enterprises (DPE) for the year 2019-20.

--IANS sn/vd

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