Mumbai: IREL (India) Limited (Formally Indian Rare Earths Limited), a CPSE under the Department of Atomic Energy (DAE), declared and paid a final dividend of Rs.23.71 Crores out of the profit for the financial year 2020-21. This final dividend is in addition to the interim dividend of Rs. 71.00 crores already paid. The total dividend paid by IREL amounted to Rs 94.71 crores for the year 2020-21. Despite disruptions caused by the COVID pandemic, IREL was able to sustain its operations, profitability and complied with the consistent dividend payment advisory issued by DIPAM.
Incorporated as a public limited company in 1950, IREL was initially jointly owned by the Government of India and the Government of Travancore, Kochi with the primary intention of taking up commercial-scale processing of Monazite. Central Government took control of IREL in 1963 under the administrative control of the Department of Atomic Energy (DAE). It was incorporated with the primary intention of taking up commercial-scale processing of monazite sand at its first unit namely Rare Earths Division (RED), Aluva, Kochi for the recovery of thorium.
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