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Birla Corporation Ltd has proposed to give out a final dividend 35 per cent or Rs 3.5 a share for 2011-12.
The MP Birla group company reported a net profit of Rs 239.21 crore (Rs 319.88 crore) for the year. For the fourth quarter to March 31, 2012, the net profit stood at Rs 57.46 crore (Rs 63.04 crore).
“The profit was impacted significantly because of the disruption of operations at the Chanderia (Rajasthan) clinker unit of the company,” a release quoted the Chairman, Mr Harsh V. Lodha, as saying. The Chandaria unit is one of the main clinker producing facilities of the company.
Limestone mining operations of the unit has been suspended since August 20 last year after an order by the Jodhpur High Court.
However, during the mining suspension period, the court allowed the use of a total of 2.55 lakh tonnes of limestone on two occasions for making clinkers. The unit could achieve “more than 50 per cent” capacity during 2011-12.
The Indian Bureau of Mines (IBM), according to the company release, has submitted a report to the High Court on the impact of mining operation on the Chittorgarh Fort.
The company expects a favourable verdict, the release said.
The company's subsidiary, Talavadi Cements Ltd, which has been facing a legal hurdle in Madhya Pradesh over a State Government recommendation of a mining lease, is also expected to get a favourable order.
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