MIDHANI, a city-based Mini Ratna Category I Defence enterprise, has declared a dividend of Rs 35.41 crore for the year 2015-16 at 30 per cent of the profit after tax of Rs 118.03 crore.
MIDHANI Chariman & Managing Director, DK Likhi along with Directors handed over the dividend cheque to Defence Minister Manohar Parrikar on January 25, it said in a statement.
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This is the fifth consecutive year when the company has paid full dividend to the Government as per guidelines and 13th successive year for payment of dividend. The cumulative dividend paid is more than its equity base. Till now, MIDHANI has paid Rs 238.52 crore as against its equity capital of Rs 187.34 crore, the statement said.
The company has achieved a “record” sales turnover of Rs 762 crore in 2015-16. “With the present growth trajectory, the company is expected to soon achieve a sales turnover in excess of Rs 1000 crore,” it said.