BDL pays final dividend of Rs 35 crore for FY 2019-20 to the government

• BDL has declared a final dividend of Rs 2.55 per share of Rs. 10/- each for the financial year 2019-20

• The  total dividend paid by BDL to the government for the financial year 2019-20 amounts to Rs 135.536 crore

New Delhi: Bharat Dynamics Limited (BDL), a Hyderabad based Miniratna Defence PSU, has paid the final dividend of Rs 35.018 Crore to the government on Tuesday. BDL's Chairman & Managing Director (CMD) Commodore Siddharth Mishra (Retd) presented the cheque for Rs 35.018 crore, being the final dividend pertaining to government's shareholding in BDL, to the Defence Minister Rajnath Singh in New Delhi on Tuesday. Department of Defence Production (DDP)'s Secretary Raj Kumar and the Ministry of Defence (MoD)'s Joint Secretary (Aero) Chandraker Bharti were also present on the occasion.

The company said that it has declared the final dividend of Rs 2.55 per share of Rs. 10/- each for the financial year 2019-20.  The final dividend declared by the company works out to 25.5 percent of the paid-up share capital of Rs 183.28 crore.

Earlier, during March this year, an interim dividend of Rs 6.25 per share amounting to Rs 100.518 crore was paid by BDL to the government for the financial year 2019-20 towards government's shareholding in BDL. Recently, the government has disinvested its 15 percent stake from the company through Offer For Sale (OFS).

With this, the total dividend paid by BDL to the government for the financial year 2019-20 amounts to Rs 135.536 crore. BDL achieved a sales turnover of Rs 3,095.20 crore and Profit Before Tax (PBT) of Rs 742.45 crore for the year 2019-20. 

ALSO READ: Govt initiates disinvestment process of 15% stake in BDL via OFS

Bharat Dynamics Limited (BDL)

Bharat Dynamics Limited (BDL) is a manufacturer of ammunitions and missile systems. It was founded in 1970 in Hyderabad, Telangana. BDL was established in the year 1970 as a manufacturing base for guided weapon systems. Starting with a pool of engineers drawn from Indian Ordnance Factories, DRDO and aerospace industries, BDL began by producing a first-generation anti-tank guided missile – the "French SS11B1." This product was a culmination of a licence agreement the government entered into with Aerospatiale. The defence PSU has three manufacturing units, located at Kanchanbagh Hyderabad (Telangana), Bhanur, Medak district of Telangana and Visakhapatnam (Andhra Pradesh). Two new units are planned at Ibrahimpatnam, Ranga Reddy district, Telangana and Amravati, Maharashtra.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)