FAGMIL Pays Rs 12.84 Crore Dividend to Union Government
New Delhi, October 26: FCI Aravali Gypsum and Minerals India Limited (FAGMIL), a public sector company, has paid Rs 12.84 crore to the Indian government. Brigadier Amar Singh Rathore, the Chairman and Managing Director of FAGMIL, presented the dividend check to Jagat Prakash Nadda, the Minister of Chemicals and Fertilizers.
The Minister praised the company’s achievements and expressed hope for its future growth. He anticipates that FAGMIL will continue to contribute to the economy and generate higher dividends. Brigadier Rathore shared that FAGMIL is diversifying into mineral exploration beyond gypsum.
FAGMIL, established in 2003, focuses on mining strategic minerals, including gypsum, which is vital for land reclamation and soil health. The company supplies gypsum to cement industries and produces fertilizers.
In 2021-22, FAGMIL produced and sold 4.11 and 4.13 lakh metric tons of gypsum, respectively, compared to 5.05 lakh metric tons in the previous year. The company reported a sales turnover of Rs 41.44 crore and a profit before tax of Rs 15.57 crore. The post-tax profit was Rs 11.59 crore. FAGMIL declared a dividend of Rs 12.55 crore for the financial year 2021-22.
Doubts Revealed
FAGMIL -: FAGMIL stands for FCI Aravali Gypsum and Minerals India Limited. It is a public sector company in India that deals with gypsum and other minerals.
Dividend -: A dividend is a sum of money paid by a company to its shareholders out of its profits. In this case, FAGMIL paid a dividend to the Indian government, which is one of its shareholders.
CMD -: CMD stands for Chairman and Managing Director. It is a title for the person who is in charge of managing a company. In this case, Brigadier Amar Singh Rathore is the CMD of FAGMIL.
Jagat Prakash Nadda -: Jagat Prakash Nadda is an Indian politician who has held various positions in the government. In this context, he is the minister who received the dividend check from FAGMIL.
Gypsum -: Gypsum is a soft mineral used in making things like plaster and cement. FAGMIL produces and sells gypsum as part of its business.
Metric tons -: A metric ton is a unit of weight equal to 1,000 kilograms. It is used to measure large quantities of materials like gypsum.
Sales turnover -: Sales turnover refers to the total amount of money a company makes from selling its products or services. FAGMIL had a sales turnover of Rs 41.44 crore from selling gypsum.
Post-tax profit -: Post-tax profit is the money a company earns after paying all its taxes. FAGMIL’s post-tax profit was Rs 11.59 crore for the year 2021-22.