Hinduja Group firm GOCL Corporation Ltd on Thursday said the company has received orders worth Rs 257.72 crore from state-owned Coal India Ltd.

The order is for the supply of detonators, accessories, and cartridge explosives for two years (from June 2023 to May 2025), GOCL Corporation Ltd said in an exchange filing.

The company reported a 20 percent growth in profit to Rs 211 crore as against Rs 176 crore the last year. It recorded an increase in consolidated revenue of 126 percent, from Rs 623 crore last year to Rs 1,410 crore in FY23. The consolidated revenue for Q4FY23 increased by 85 percent to Rs 302 crore, as compared to Rs 163 crore during Q4 of the previous year.

Also, the company through its overseas subsidiary HGHL had made an investment of $24 million in 57 Whitehall Investment SARL, Luxembourg. This investment is utilized to develop the historical Old War Office (OWO) project located in central London, to convert the project into a super luxury hotel and luxurious residential apartments.

Further, the board has recommended a dividend of Rs 5 per share (250 percent) for the financial year 2022-23. In addition, considering the monetisation of land a special dividend of Rs 5 per share (250 percent) is being declared. The total cash outgo on this account will be Rs 50 crore.

GOCL Corporation is a part of the international Hinduja Group and has diversified business interests. The company is engaged in the provision of explosive accessories (detonators) (for mining and industrial use). The current business activities of the company include energetics, mining & infrastructure services, and property development.

Courtesy: CNBC TV18, Equity Bulls