Pawan Hans declares Rs.7.76 crore dividend

State-run chopper operator Pawan Hans (PHL) on Thursday declared a dividend of Rs.7.76 crore for 2014-15.

"The Minister for Civil Aviation P. Ashok Gajapathi Raju received a cheque of Rs.3,95,84,735 from B.P. Sharma, chief managing director, Pawan Hans, as dividend for the year 2014-15," the ministry of civil aviation said in a statement.

"Pawan Hans has declared a dividend of Rs.7.76 crores for the financial year 2014-15. A cheque of Rs.3,80,15,265 has also been paid to ONGC as being 49 percent shareholder of PHL."

According to the ministry, PHL has been making profits since 1992 and has paid Rs.223.69 crore dividend as on 2014-15.

"For the financial year 2014-15, PHL's operating revenue increased to Rs.538.15 crore (Rs.529.57 crore in the previous year). The net operating profit for 2014-15 is Rs.79.13 crore against Rs.73.03 crore in the year 2013-14," the statement elaborated.

"This year the company has managed to turn around with net profit after tax of Rs.38.81 crore against Rs.38.57 crore during previous year and has declared dividend at the rate of 20 percent of the net profit after tax (i.e. Rs.38.81 crores) to Govt. of India and ONGC."

The company has a paid up share capital of Rs.245.62 crore.

Further, the ministry revealed that the company has prepared a 'Strategic Business Plan 2020' which envisages industry trends, future challenges and growth opportunities of general aviation sector in India particularly helicopters, seaplanes, small fixed wing aircraft and development of heliports.

"Fleet acquisition under options of leasing and procurement routes through which 20 new helicopters in various categories like light, medium and heavy and 2 seaplanes will be procured," the statement cited.

In addition, the ministry informed that the company's prospects for an IPO (initial public offering) is being reviewed with SBICap and work plan for the same is being prepared in a time bound manner.

"Construction of Rohini Heliport is in full swing. Independent internal committee has been constituted for monitoring Heliport progress," the ministry noted and assured that efforts are underway to complete the project within the stipulated time frame.

The proposed date for the project completion is set for February 16, 2016 as per contractual agreement, while operationalisation is expected by June 30, 2016.

"Pawan Hans intends to manage and operate to develop more such heliports to promote regional connectivity in various parts of the country under Heli-Hub concept through viability gap funding model with state and central government," the statement pointed out.

Besides, the ministry disclosed that PHL plans to venture into MRO (maintenance, repair and operations) business.

"To start with, the MRO facility is being planned to be established at Rohini at Delhi and Juhu at Mumbai through PPP (public private partnership) model/develop, manage and operate revenue based model," the statement added.

Presently, the company operates its helicopter fleet in various parts of the country for operations of ONGC, NTPC, GAIL, GSPC, Oil India, MHA (Ministry of Home Affairs), BSF and various state governments.

The company runs the helicopter services from Phata to the holy shrine of Kedarnathji during the May-June and September-October seasons every year.

It promotes 'Heli-Tourism' in other parts of the country as well, such as Amarnath Shrine.

Currently, the country's largest chopper operator is designated as a 'Mini Ratna-I category PSU.'

PHL has its own fleet of 43 choppers. It also operates and maintains six Dhruv helicopters belonging to BSF and HAL.