Sept 8, 2009, New Delhi: Cochin Shipyard Ltd (CSL), the largest shipbuilding and ship repair yard of India declared a dividend of Rs 19,66,79,000 (Rs 19.66 crore). Commodore M Jitendran, CMD of CSL, presented a cheque of this amount to GK Vasan, the Union Minister of Shipping, on September 8, 2009. The dividend consists of Re 1 per equity share on 11,32,80,000 fully paid equity shares of Rs 10 each, which amounts to Rs 11,32,80,000 (Rs 11.32 crore).
Cochin Shipyard, which attained Category-I Miniratna status in July 2008, achieved a landmark performance during financial year 2008-09 with an increase of 70% in its profit after tax over the previous financial year. Profit in 2008-09 was Rs 160.07 crore as compared to Rs 93.85 in the financial year 2007-08.
Continued profitability of the yard has resulted in an increase in net worth from Rs 429.42 crore in 2007-08 to Rs 566.49 crore in 2008-09. The company achieved a total shipbuilding income of Rs 986 crore during 2008-09 as against Rs 582 crore during 2007-08, thereby posting an increase of 70%.
Cochin Shipyard also redeemed two installments of Preference Share Capital amounting to Rs 40 crore in September 2009. For further information, contact:
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