KIOCL achieves 344% higher pellet production at 1.06 mt in H1

20 November 2017

KIOCL Ltd, a CPSU under the Ministry of Steel, has achieved a 343.75 per cent higher pellet production of 1.065 mt in the first-half of 2017-18, as compared to 0.240 mt in the corresponding period of 2016-17.

On the dispatch side, the company has achieved 574.25 per cent higher pellet quantity dispatch at 1.126 mt as compared to 0.167 mt on a year-on-year basis.

Subba Rao, CMD, KIOCL, said due to the supportive pricing environment, efficiency in production, swift decision making in exploiting market opportunity and implementing the concept of ‘Make in India’, KIOCL has achieved a top line growth of 676.70 per cent in achieving revenue from operations of Rs. 763.88 crore as compared to Rs. 98.35 crore in the first-half of 2016-17.

1. K. Gorai, Director-Finance, said this performance is commendable for the merchant pellet producer in the absence of a captive mine, lack of iron ore security, and the huge logistic cost incurred in moving iron ore from the Kirandul-Bacheli sector of NMDC to its pellet plant located at Mangalore Port.

Source: Hindu BL