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NSIC Pays A Dividend Cheque of Rs. 12,47 Crore

National Small Industries Corporation (NSIC), under the Ministry of MSME, achieved a record business performance during the financial year 2012-13. The Chairman cum Managing Director of NSIC Dr. H.P. Kumar, paid a dividend for Rs. 12,47 crore, equivalent to 20% of the Net Profit for the year 2012-13 to the Minister of MSME, Shri K. H. Muniyappa here today

The Minister of MSME Shri K. H. Muniyappa stated that NSIC achieved record business performance during the financial year 2012-13. Total business of the Corporation reached to Rs 13,901 crore as compared to Rs. 11,137 crore during the previous year, registering the growth of 24%. The Corporation achieved Profit Before Tax amounting to Rs. 92.35 crore for the year 2012-13 as against Rs. 60.21 crore in the previous year, registering a growth of 53%. It is the seventh consecutive year of the Corporation to pay dividend to the Government the minister added.

The Minister further added that 35% increase in NSIC’s Gross Income from operations at Rs.342 crore for the financial year ended 31.3.2013 as compared to Rs.253 crore for the previous year. The Gross Margin registered a growth of 47% at Rs.226 crore for the year as compared to Rs.153 crore in the previous year. On Distribution of raw materials, the Minister stated the performance grew up by 14% to 7,83,309 MTs from 6,84,976 MTs in 2011-12. On the Credit Facilitation segment the performance increased to Rs.4392 crore from Rs.3,824 crore during the previous year registering a growth of 15%.

Underlining the present Indian economic condition, Shri Muniyappa said “the slowdown of Indian Economy is due to global economy, which has been affecting the performance of MSME sector as well. However, MSME sector in India has managed to show the growth of more than 10%, which proves the resilience of the sector”.

Applauding the activities of NSIC the Minister stated NSIC has reinforced its strength by building new competencies to serve the emerging needs of the MSME sector by creating several innovative products to cater to the diverse requirements of the MSME sector, which amongst others also include Rapid Incubation Program for creating self employment opportunities. NSIC has embarked upon creating self-employment opportunities by imparting training in entrepreneurship building to unemployed persons through setting up such Centres under Private Public Partnership (PPP) mode. The Incubators envisage transformation of an unemployed youth into budding entrepreneur in just three months time the Minister emphasized.

Shri Madhav Lal, Secretary Ministry of MSME was also present on the occasion.