Union Minister of Chemical & Fertilizers D.V.Sadananda Gowda today received dividend receipt of Rs.12,51,00,000/-(Rupees Twelve crore fifty one lakh only)for FY 2019-20 from Brigadier Amar Singh Rathore, CMD, FCI Aravali Gypsum & Minerals India Limited (FAGMIL), A Miniratna-II PSU Company. Rajesh Kumar Chaturvedi, Secretary (Fertilizers) was also present during the occasion.
Speaking on the occasion, Gowda said that FAGMIL has been consistently paying dividend to the Government of India since last few years. In span of 17 years the Company has paid a cumulative dividend Rs.101.34 Crores i.e. 1382% of the initial paid up capital of Rs.7.33 Crore.He appreciated the results and growth achieved by the Company and expressed hope that the Company will grow exponentially and generate higher dividends in coming years.
FAGMIL was incorporated on 14.02.2003 consequent upon hiving off Jodhpur Mining Organization (A unit of M/s Fertilizers Corporation of India (FCIL)). It commenced operations w.e.f. 01.04.2003 with an authorized capital of Rs.10 Crore and paid up capital of Rs. 7.33 Crore. During the year 2017-18 Company issued Bonus share capital of Rs.22.67 Crore (fully owned by Government of India) resulting in paid up capital of the Company increasing to Rs.30.00 Crore.