Aravali Gypsum presents Rs 1.46 cr dividend cheque to Govt

New Delhi, Oct 30 (UNI) The Aravali Gypsum and Minerals India Ltd., under the Ministry of Chemicals and Fertilisers, presented a dividend cheque for Rs 1,46,59,600 to the Government here today.

Minister of Chemicals and Fertilisers and Steel Ram Vilas Paswan received the dividend cheque and appreciated the results achieved by the company.

The company has declared a dividend of 20 per cent on its paid-up capital in the third year of its operation, he noted and hoped that the company will grow further and generate higher dividends to the Government.

The Jodhpur-based company started on April 1, 2003 with an authorised capital of Rs 10 crore and paid-up capital of Rs 7.33 crore as a Central Government undertaking. The company is engaged in mining of gypsum, a mineral which has applications in the agricultural sector.

During the first year of its operation in 2003-04, the company earned a profit before tax of Rs 2.83 crore, on a turnover of Rs 19.40 crore. In 2004-05, the company earned a profit before tax of Rs 6.57 crore on a turnover of Rs 29.94 crore. In its third year of operation in 2005-06, the company earned a profit before tax of Rs 9.85, on a turnover of Rs 38.45 crore.

The company achieved a 28 per cent growth in sales turnover and a growth of 50 per cent in profit before tax during the year 2005-06.

Presently, the undertaking is exploring exports of gypsum to Africa.

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