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FINANCIAL PROFILE (Provisional)

FINANCIAL PROFILE: During the year 2013-14,HGML's Gold production was 1.56 tonnes of gold with a corporate turn over of Rs:40579.43 lakhs the paid-up share capital of HGML as on march 31st 2014 is Rs 296.20 lakhs.The Government of karnataka and other government companies hold 98.81% paid-up capital of HGML,which earned a profit of Rs 14462.77 lakhs(before tax) for the year ended march 31st,2014.

Highlights of the year ended 31st March 2015: HGML is the only premier gold producing producing company in the country and a pioneer in the field of mining and processing of gold.

  • The quantity of ore milled/treated was 548247 MTs as against to 540719 MTs in FY 2014-15,marginal increase of 7528 MT.
  • The quantity of gold produced was 1309.77kgs(8.5%), this was mainly on account of reduced recovery grade in ore at 2.39gms/MT as against to 2.65gms/MT in 2014-15, as there were not enough high grade stopes above 2000 level%.
  • The turnover/sale of Gold & Silver aggregated to Rs.34212.91 lakhs as against to Rs.34127.56 lakhs in FY 2014-15,marginal increase of 85.35 lakhs. There was increase in quantity of gold sold by 59.79kgs i,e 1413.75kgs compared to 1353.96kgs but fall in average selling price (net of ED) was Rs.100/ gram i,e from level of Rs.2517/- gm to Rs 2417- per gram (4%). The Cost of production of gold was Rs.2681/gm as against to Rs.2259/gm during the previous year, increase of Rs.422/gm(18%).
  • Value of production of gold and silver amounted to Rs.42863 Lakhs as against Rs.52400 Lakhs in corresponding pervious year,with a decrease of 18.20%
  • The Wind energy generated and sold was 2.14cr.Kwh as against to 2.50cr.Kwh in FY 2014-15,reduction of 36lakhs Kwh(14%).Consequently, the turnover on sale of wind energy generation was mainly on account of frequent break downs wind generator coupled with low wind velocity
  • The Earning before interest,Depreciation & Tax(EBIDT) amounted to Rs.3935lakhs as against to Rs.10945 lakhs in FY 2014-15, reduction of Rs.7010 lakhs
  • The Net Profit before tax for the year was Rs.1201.28 lakhs as against to Rs.8244.23 lakhs in FY 2014-15,reduction of Rs.7042.95 lakhs
  • Earning per share for the year is Rs.3025 as against Rs.5726 for 2012-13, with a decrease of 47.17%.
  • The net profit after tax was Rs.632.77 lakhs compared to Rs.6634.46 lakhs in previous year, reduction of 90%.

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