Team News Riveting
New Delhi, May 23
Prakash Industries Limited (PIL), the diversified company having interest in mining, steel and power, has reported strong financial results in the financial year 2024-25 (FY25).
During the year, the Company has achieved Net Sales of Rs 4014 crore and Operating Profit of Rs 520 crore, reflecting growth of 9 per cent and 5 per cent respectively over the previous financial year.
Profit after Tax also increased to Rs 355 crore as against Rs 348 crore in the previous financial year. However, Profit after Tax of Rs 348 crore in the previous financial year included profit of Rs 37 crore from sale of some assets.
Further, during FY2025, the Company has achieved its highest sales volume of 9.78 lakh MT registering growth of 14 per cent over the last financial year.
Keeping in view the strong financial results, the Board of Directors of the Company recommends a dividend of 15 per cent i.e. Rs 1.50 per Equity Share of Rs 0 each.
On February 15, 2025, the Company had started coal extraction and despatches from its Bhaskarpara Coal Mine to its Integrated Steel plant at Champa in Chhattisgarh. During the period, the Company extracted 76,351 MT of coal. The Company is likely to achieve the coal extraction of 1 Mn tonnes in the very first full year of its operation i.e. FY2025-26.
The supplies of coal from the mine shall result in substantial cost reductions and higher efficiencies in its plant operations. As such, the Company is likely to achieve steel production of over 1 Mn tonnes in the current financial year.
