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SCCL Pays 88 Crore Dividend to Telangana Government for FY 2023-24

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Singareni Collieries Company Limited Pays ₹88.55 Crore Dividend to Telangana Government for FY 2023-24 Overview of SCCL's Financial Milestone Singareni Collieries Company Limited (SCCL), one of India’s leading coal mining companies, has made a remarkable financial contribution by paying a dividend of ₹88.55 crore to the Telangana State Government for the 2023-24 fiscal year. This dividend payment underscores the company’s strong financial health and its commitment to supporting state development. Dividend Distribution and Stakeholders’ Share The dividend represents 10% of SCCL’s paid-up equity share capital. From the total dividend amount of ₹173 crore, the Telangana Government, holding a 51% equity stake in SCCL, received ₹88.55 crore. This distribution highlights the company's dedication to sharing profits with its shareholders, including the State and Central Governments. Acknowledgment by Key Leaders The SCCL Chairman and Managing Director, N. Balaram, formally presented the dividend cheque to the Chief Minister of Telangana, Mr. A. Revanth Anumula, and Deputy Chief Minister, Mr. Bhatti Mallu Vikramarka. During the ceremony, the Chief Minister and Deputy Chief Minister lauded SCCL's consistent efforts in achieving financial success, meeting the energy demands of South India, and prioritizing stakeholder benefits. They expressed satisfaction with SCCL’s profitability and its proactive approach to employee profit sharing and regular dividend payments. SCCL’s Role in Energy and Economic Growth As a cornerstone of India’s coal mining sector, SCCL plays a pivotal role in addressing the energy needs of South India. By ensuring a steady supply of coal, the company supports the functioning of thermal power plants, fostering economic growth and industrial development in the region. The consistent profitability of SCCL reflects its operational efficiency and strategic planning. Event Highlights The cheque handover ceremony witnessed the presence of several high-ranking officials, including: Minister Mr. Jupally Krishna Rao Telangana Chief Secretary Ms. Shanti Kumari Special Chief Secretary for Finance Mr. Ramakrishna Rao Energy Department Secretary Mr. Sandeep Kumar Sultania Their attendance underlined the significance of this financial milestone and SCCL’s crucial role in the state's economic framework. SCCL’s Commitment to Stakeholder Value SCCL has consistently demonstrated its commitment to creating value for all stakeholders. Apart from fulfilling its shareholder obligations through dividends, the company ensures its employees benefit from its financial achievements by sharing profits. Such measures not only enhance employee morale but also contribute to the overall growth and sustainability of the company. Conclusion: A Model for Corporate Responsibility Singareni Collieries Company Limited stands as a model for corporate responsibility and financial stewardship. By balancing its profit-generation goals with a commitment to stakeholder welfare and regional energy needs, SCCL has cemented its reputation as a leading public sector enterprise. The dividend payment for FY 2023-24 further reinforces its role in driving economic progress and energy sustainability in Telangana and beyond.

Overview of SCCL’s Financial Milestone

Singareni Collieries Company Limited (SCCL) is a top coal mining company in India. It paid ₹88.55 crore to the Telangana State Government for 2023-24. This shows SCCL’s strong finances and support for state growth.

Dividend Distribution and Stakeholders’ Share

The dividend is 10% of SCCL’s equity share capital. Telangana Government, with a 51% stake, got ₹88.55 crore. This shows SCCL’s commitment to sharing profits with its stakeholders.

Acknowledgment by Key Leaders

SCCL’s Chairman, N. Balaram, gave the dividend cheque to Telangana’s Chief Minister, Mr. A. Revanth Anumula, and Deputy Chief Minister, Mr. Bhatti Mallu Vikramarka. They praised SCCL’s financial success and its role in meeting South India’s energy needs. They also appreciated SCCL’s focus on employee benefits and regular dividends.

SCCL’s Role in Energy and Economic Growth

SCCL is key in India’s coal mining sector. It ensures coal supply for thermal power plants, boosting economic growth and industrial development. SCCL’s consistent profits show its efficiency and strategic planning.

Event Highlights

The cheque handover ceremony had many high-ranking officials:

Their presence highlighted SCCL’s financial milestone and its role in the state’s economy.

SCCL’s Commitment to Stakeholder Value

SCCL values all stakeholders. It pays dividends to shareholders and shares profits with employees. This boosts morale and supports company growth.

Conclusion: A Model for Corporate Responsibility

Singareni Collieries Company Limited is a model for corporate responsibility. It balances profits with stakeholder welfare and regional energy needs. The FY 2023-24 dividend payment shows its role in driving economic progress and energy sustainability in Telangana and beyond.

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