Indian Medicines Pharmaceutical Corporation pays Rs 1.65 crore dividend to AYUSH ministry, U'khand govt
The IMPCL has paid 15 percent dividend on profit after tax (PAT) which comes to Rs 1.66 crore.
New Delhi: Indian Medicines Pharmaceutical Corporation (IMPCL), a central public sector enterprise (CPSE), working under the Ministry of AYUSH, Government of India, has announced to pay a dividend of Rs 1.65 crores to its stakeholders – Ministry of Ayush and Government of Uttarakhand.
The dividend, in the form of a cheque, was handed over to Ayush Minister Shri Sarbananda Sonowal in a ceremony held at Ayush Bhawan.
Acknowledging the fact that IMPCL is a Mini Ratna company, the Minister said that Ayush system of medicines are being recognized worldwide and the market size is increasing as well. The IMPCL has paid 15% Dividend on Profit After Tax (PAT) which comes to Rs. 1.66 cr. The dividend proportion to Rs. 1.63 cr. to Government of India and Rs. 3 Lakhs to M/s KMVN ltd for the year 2020-21.
IMPCL is a Public Sector undertaking under the administrative control of M/o Ayush. It is a joint Venture Company with the Govt. of India having a share of 98.11% and the Govt. of Uttarakhand having a share of 1.89%. Certification line Company is presently manufacturing 656 Classical Ayurvedic, 332 Unani and 71 Proprietary Ayurvedic Medicines for the various diseases spectrum.
Recently, IMPCL has been conferred WHOGMP/CoPP certification by DCG(I) for 18 Ayurvedic Products which gave the opportunity to explore export business.
IMPCL's Managing Director Dr. Mukesh Kumar informed that a total amount of Rs 1,62,64,182 was handed over by the company to Cabinet Minister of Ministry of Ayush as dividend for the year 2020-2021.
Similarly Rs 3,13,315 was handed over to the State Government of Uttarakhand through Kumaon mandal Vikas Nigam (KMVNL), a government undertaking working under the Uttarakhand government. Total amount of Rs 1,65,77,497 was handed over as dividend.
According to Managing Director though it was a challenging financial year for the operational activities due to COVID-19 pandemic, It has also given an opportunity due to increased demand of Ayurvedic Medicines in general and Immune Boosting Medicines in particular which has contributed to record all time High turnover of Rs. 164.02 cr. and Profit Before Tax (PBT) of Rs. 15.69 cr. for IMPCL during 20-21.
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