The Firm Board of Administrators has proposed a ultimate dividend of Re 1 per share topic to approval of shareholders. As well as, the primary interim dividend of Rs. 2.30 per fairness share for fiscal 2024-25 has been paid. The whole dividend paid for the 12 months is Rs 2,901 crore to the shareholders, an organization assertion mentioned.
Commenting on the outcomes, Amitava Mukherjee, Chairman and Managing Director, NMDC, mentioned the corporate goals to attain 100 million tonnes each year (MTPA) manufacturing within the subsequent 5 years. NMDC recorded 44.04 mt iron ore manufacturing in fiscal 2024-25, down from 45.02 mt within the previous 12 months.
The corporate auditor drew consideration to the Karnataka (Mineral Rights and Mineral Bearing Land) Tax Invoice, 2024 handed by the state authorities in December 2024. The Invoice is pending enactment, awaiting the assent of the President of India.
Karnataka Governor has referred this the Invoice for Presidential assent together with reservations on its legality. This implies it can’t be handled as regulation until and till Presidential assent is acquired.
The Invoice, in its current type, proposes retrospective applicability of tax on mineral rights and mineral-bearing lands. “Ought to it’s enacted as at present drafted, the Firm could also be liable to pay tax amounting to roughly Rs 13,975.07 crore,” the auditor famous.NMDC mentioned contemplating the pending legislative course of, the reservations of the Governor, and the continuing stakeholder discussions, the quantity has been disclosed as a contingent legal responsibility within the monetary statements.
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