STEEL MINISTER REVIEWS 2002-03 PERFORMANCE OF MOIL

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The manganese Ore (India) Ltd. Nagpur, a public sector unit of the Steel Ministry produced 7.14 lakh tonnes of manganese ore during the year 2002-03 which was 6 per cent more than the target. Besides, it produced 6000 tonnes of ferro manganese against a target of 5000 tonnes and 930 tonnes of electrolytic Manganese Dioxide against the target of 1000 tonnes. This information was given by the CMD of the company Shri P.M.Reddy to the Minister for Steel Shri B.K.Tripathy who was reviewing MOIL's performance during 2002-03. Its sales turnover of Rs. 175.27 crore during the year crossed the target by 11 per cent. Its gross margin of Rs. 34 crore and profit after task of 16.9 crore also were 5 and 9 per cent more than the target.

The Minister asked the company to keep up its tempo of performance and focus on increasing sales realisation achieving operational and process efficiency and optimum use of resources. He also stressed on cost reduction and control of pilferage and waste.

Later the minister reviewed the performance of Bharat Refractrories Limited (BRL) during the year. Following the revival package, the company, during the last quarter of the year has shown growth both in production and sales. The improvement in performance is due to production of value added items and austerity measures. The Minister asked the company to fulfil its 2003-04 targets and expedite manpower realisation and raise assets by disposing off its unutilised resources.