22 Nov 2013

Central Warehousing Corporation pays record dividend for 2012-13

Central Warehousing Corporation
The Central Warehousing Corporation (CWC) achieved yet another record turnover of Rs. 1407 crore during 2012-13 as against Rs. 1219 crore of the preceding year, registering a growth of 15.42%. 

This could be possible due to addition of constructed storage capacity by 2.35 lakh MT in 14 States with a CAPEX of Rs. 76.86 crore and increase in overall capacity utilization (occupancy) to 93% as against 91% achieved during previous year. Keeping in view the national priority for safe preservation of foodgrains, utilization of capacity for storage of foodgrains was given due attention CWC handled 10.96 lakh TEUs during 2012-13. The Profit Before Tax (PBT) of CWC increased by 31.5% from Rs, 159.12 crore to Rs. 209.23 crore while the Profit After Tax (PAT) increased by 39.5% from Rs. 100.46 crore to Rs. 139.55 crore during 2012-13. 

Keeping in view the excellent financial results, CWC has declared dividend for the year 2012-13 @ 41%. Shri B.B.Pattanaik, Managing Director, CWC presented a cheque of Rs. 15.34 crore to Prof. K.V.Thomas, Minister of Consumer Affairs, Food & Public Distribution here today, being the dividend due to the Government of India in the presence of Shri Sudhir Kumar, Secretary(F&PD) and Dr. C.V.Ananda Bose, Chairman, CWC. Other senior officers of the Ministry and CWC were also present on the occasion. Congratulating CWC for its commendable performance, the Prof. Thomas urged CWC to undertake creation of storage capacity on a large scale more particularly in the deficit States like Bihar, West Bengal, Jharkhand, etc. 

During the current financial year, CWC has plans to construct additional storage capacity of about 2.20 lakh MT with a financial outlay of about Rs. 150 crore in 14 States mainly for storage of foodgrains. CWC also plans to commence operations of Private Freight Terminals (PFCs) at its rail-based facilities at Bamanheri (UP) and Nabha (Punjab). Besides operating Land Custom Station at Petrapole (West Bengal), CWC is operating the Cargo Terminal of Integrated Check Post (ICP), at Attari (Punjab) on the Indo-Pak Border since April 2012. CWC has recently commenced operations of Cargo Terminal at ICP, Agartala on the Indo-Bangla Desh border for assisting in the border trade through land route. 

Central Warehousing Corporation, a Government of India provides scientific storage facilities for agricultural inputs, produce and other notified commodities besides providing logistics infrastructure like CFSs/ICDs, Land Customs Stations, Air Cargo Complexes, etc. for import-export cargo. 

As on 1st November, 2013, CWC was operating 465 warehouses with a total storage capacity of 105.58 lakh MT with an average capacity utilization of 89% . CWC is the leading player in the Warehousing/Logistics business providing infrastructural facilities to a diversified group of clients including Government Departments, semi-Government agencies, autonomous bodies, cooperative institutions, business houses, multinational companies as well as farmers and traders. 

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