FAGMIL Pays Rs 12.84 Crore Dividend to Union Government

FCI Aravali Gypsum and Minerals India Limited (FAGMIL) has paid Rs 12.84 crore dividend to the government. The company is diversifying into new mineral sectors to boost growth and profitability. It aims to improve infrastructure and land reclamation through gypsum production, despite recent production and profit declines.

FAGMIL, a public sector enterprise under the Central Government, recently announced a dividend payout of Rs 12.84 crore to the Union Government. The gesture was marked by a formal presentation of the dividend check by FAGMIL's CMD, Brigadier Amar Singh Rathore, to the Chemical and Fertilizers Minister, Jagat Prakash Nadda.

The Union Minister lauded the company's performance and expressed optimism about FAGMIL's future prospects, envisioning exponential growth and increased dividends in the coming years. In a strategic move, the company is venturing into mineral exploration beyond its traditional gypsum operations.

Incorporated in 2003, FAGMIL aspires to lead in mining strategic and critical minerals. Although it experienced a dip in gypsum production and profits in the 2021-22 fiscal year, the company remains committed to enhancing soil health and infrastructure through its gypsum supply.

(With inputs from agencies.)