KOCHI:Cochin Shipyard Limited (CSL), a Schedule B Miniratna Public Sector Units under the Ministry of Shipping, paid a dividend of Rs 122.34 crores to the India government. It is for the tenth consecutive year that the CSL paid a dividend to the central government.
After the IPO of equity shares of CSL, the central government holds 7 percent in the equity share capital of CSL and the balance 25 percent is held by the general public.A CSL press release claimed a dividend of Rs 12 per equity share was paid on the 10,19,52,000 fully paid equity shares of Rs 10 each held by the central government. In addition, the yard has also contributed Rs 357.49 crores to the exchequer by way of VAT, Income Tax, CST, Customs Duty, Service Tax, GST and Dividend Tax during the year 2017-18.
The performance of CSL had been consistently impressive in the last several years despite a very challenging business environment in the entire shipping industry.
In spite of the continued global downturn in the shipbuilding industry, Cochin Shipyard achieved an all-time high turnover of Rs 2355.12 crores for the year 2017-18 as compared to Rs 2058.87 crores in the year 2016-17, the press release stated.CSL also recorded an all-time high profit after tax of Rs 396.75 crores as compared to Rs 321.55 crores for the previous year.