NSIC Pays Record Dividend of Rs. 37.97 Crore for FY 2023-24

The National Small Industries Corporation Limited (NSIC), a Mini Ratna enterprise under the Ministry of MSME, achieved a milestone by paying its highest-ever dividend of Rs. 37.97 crore to the Government of India for the financial year 2023-24. Chairman-cum-Managing Director, Dr. Subhransu Sekhar Acharya, presented the dividend cheque to Shri Jitan Ram Manjhi, Hon’ble Union Minister, and Sushri Shobha Karandlaje, Hon’ble MoS, Ministry of MSME, in the presence of senior ministry officials, marking a significant achievement in the corporation’s history.

NSIC reported a Revenue from Operations of Rs. 3,273 crore, up by 18.16%, and a Profit After Tax (PAT) of Rs. 126.56 crore, reflecting a 14.55% increase compared to the previous year.

Financial Achievements and Growth

Revenue Surge: NSIC recorded a revenue of Rs. 3,273 crore in FY 2023-24, showcasing an 18.16% growth compared to the prior year.

Profit Milestone: Profit After Tax (PAT) reached Rs. 126.56 crore, a 14.55% year-on-year rise.

Dividend Record: With a dividend of Rs. 37.97 crore, the company achieved its highest-ever payout to the Government of India.

Leadership Remarks

Speaking on the occasion, Hon’ble Union Minister Shri Jitan Ram Manjhi commended NSIC for its role in empowering MSMEs and urged the organization to expand its initiatives in skill development and enterprise creation. The Hon’ble MoS, Sushri Shobha Karandlaje, echoed these sentiments, emphasizing the importance of NSIC’s contribution to MSME growth.

Historical Context and Future Outlook

NSIC has consistently supported MSMEs through integrated services, including financial assistance, skill development, and market promotion. The record dividend for FY 2023-24 highlights the corporation’s operational efficiency and its pivotal role in driving economic growth. Looking ahead, NSIC aims to explore new avenues for enterprise creation and foster innovation, reinforcing its commitment to the MSME sector.

Summary of the news