The miner though did not achieve targeted production and offtake targets for FY21 but it’s surpassed the revised cost target of Rs 13,000 crore.
“The board will try declaring another round of dividend but it’s expected to be but two interim dividends of Rs 7.5 and Rs 5 on each share of Rs 10 each,” the sources told PTI.
The total interim dividend for FY21 is Rs 12.5 per share and therefore the final dividend might be Rs 2-2.5 per share to form the ultimate total dividend not but Rs 15 per share, sources indicated.
The government is going to be the most important beneficiary of the dividend as its shareholding stands at 66.13 percent.
The fourth-quarter numbers were expected to stay weak consistent with analysts’ estimates but stock exchange participants remained bullish and therefore the stock rose 6.24 percent during the week.
Speaking about capex achievement the official said, “Initially the target was Rs 10,000 crore but with the COVID- 19 pandemics induced slowdown within the economy the govt asked to boost to support the economy. We raised the capex target to Rs 13,000 crore and that we have surpassed it.”
The cost for FY21 was at Rs 13,115 crore, a 109 percent rise compared to the previous year’s capex outgo of Rs 6,270 crore.
The procurement of heavy earthmoving machinery at Rs 3,453 crore topped the list of capex heads for FY21, followed by land at Rs 2,470 crore. Capex in joint ventures, in proportion to CIL’s shareholding, like Talcher Fertilizers Ltd and Hindustan Urvarak & Rasayan Ltd accounted for Rs 2,194 crore.
Spending on coal evacuation infrastructure like coal handling plants, silos, and constructing sidings amounted to Rs 1,398 crore while construction of rail corridors and railway lines amounted to Rs 1,166 crore.