KIOCL Limited lists on BSE

Mumbai: KIOCL Limited, a leading CPSU, formed on 2nd April, 1976, for mining and beneficiation of low grade Iron ore from Kudremukh Mines located in the State of Karnataka, engaged in the business of manufacture and export of high quality Iron Oxide Pellets and supply of Pig Iron to Domestic market from its Pelletization & Pig Iron Complex is located at Mangalore and its Corporate office at Bengaluru, Karnataka.

 

KIOCL was listed on the BSE platform. The Category-I Mini-Ratna public sector undertaking has an iron ore Pellet plant of 3.5 MTPA capacity at Mangalore.  With this listing, KIOCL Ltd. can now be traded on key exchanges of BSE, NSE and Chennai Stock Exchange. At a formal listing ceremony, Shri Subba Rao, Chairman & Managing Director (Addl. Charge) & Director (Commercial), rang the traditional bell to mark the commencement of trading of stock. Also present at the ceremony were Shri N. Vidyananda, Director (Project & Production) and Shri S. K Gorai, Director (Finance), KIOCL Limited.  

 

Speaking on the occasion, Shri Subba Rao briefed about the current status of the Company and the various initiatives taken including the growth and investment plans. He said, “We are keen that we reward our shareholders for their trust and confidence. We are sure that listing on BSE will enhance the liquidity in the market. As for future, our growth blueprint for next few years includes both inorganic as well as organic growth through strategic investments in Greenfield and Brownfield projects.”

 

The company has been performing consistently well over last many years. In the financial year 2016-17, KIOCL Limited clocked a turnover Rs. 929.36 Crores, returning an EBIDTA of Rs.31.22 Crores and with Rs.47.93 Crores as profit after tax. The KIOCL Stock has shown a remarkable appreciation in the last few months and closed on Rs.79 on Friday with a market capitalization of Rs. 48 Crore.  The company has 1600 retail investors as on 31 July 2017 with Government of India holding 99% of equity.