Bharat Dynamics pays Rs 47 cr dividend to Centre

Bharat Dynamics Limited (BDL), a Hyderabad-based public sector unit under the ministry of defence, has paid Rs 47 crore, its highest-ever dividend, to the central government. This works out to 40.87 per cent on the company's paid-up share capital of Rs 115 crore.

BDL chairman and managing director, SN Mantha, presented a dividend cheque for the financial year 2011-12, to defence minister AK Antony in New Delhi on Thursday, the company said in a press release.

BDL, a mini-ratna Category-I company, achieved a turnover of Rs 959 crore during the financial year 2011-12. Recently, it signed two contracts with the armed forces for refurbishment of vintage missiles. The company was shortly setting up its fourth manufacturing unit at Amravati in Maharashtra and the fifth one at Ibrahimpatnam in Andhra Pradesh, the release stated. 

To meet the growing demands of the armed forces, the company was shortly setting up its fourth manufacturing unit at Amravati in Maharashtra and the fifth one at Ibrahimpatnam in Andhra Pradesh, the release stated.