Pawan Hans pays first dividend for five years

Pawan Hans pays first dividend for five years

10-Jan-2014 Source: Pawan Hans

Pawan Hans pays dividend after a gap of 4 years. Cheque of dividend of Rs.1,19,32,164/- for the financial year 2012-13 was presented to the Hon’ble Minister of Civil Aviation Shri Ajit Singh by Shri Anil Srivastava, Chairman & Managing Director,Pawan Hans in the presence of Shri Ashok Lavasa, Secretary, Civil Aviation Sh. Alok Sinha JS,Sh. G.Asok Kumat , JS , MoCA , Sh. Sanjiv Bahl, ED, PHL and other senior officials of Ministry of Civil Aviation and Pawan Hans.

Pawan Hans is an organization of the Ministry of Civil Aviation, for the financial year 2012-13 Pawan Hans earned operating revenue of Rs.465.25 crores [$75.1M] (Rs.428.86 crores [$69.3M] in the previous year). The net operating profit for 2012-13 is Rs.39.64 crores [$6.4M] and the company has managed to turn around with profits net of everything at Rs.11.70 crores [$1.9M] against the net loss of Rs.10.35 crores [$1.7M] during previous year and has declared dividend @ 20% of the net profit after tax (i.e. Rs.11.70 crores) [$1.9M] to Govt. of India and ONGC. In the paid up share capital of the Company of Rs.245.62 crores [$39.7M], Government through Ministry of Civil Aviation holds 51% and ONGC holds 49%.

Pawan Hans is an ISO 14001 and 18001 certified Company and is India’s largest helicopter operator and also one of the Asia’s bigger operator. It has achieved flying of more than 5.13 lakhs hours and 19 lakhs landings on its fleet since its formation. Pawan Hans has its own fleet of 46 helicopters, comprising of

18 Dauphin N
17 Dauphin N3
3 MI-172
3 Bell 206 L4
3 Bell 407
2 AS 350 B3

It also operates and maintains 5 Dhruv helicopters belonging to BSF. The operating and maintenance standards of Pawan Hands are one of the highest in the world. Credit rating of the Company has also been upgraded with stable India A+ from Stable India A. This has been possible due to better operational performance and safety measures.

Pawan Hans witnessed complete turnaround with significant improvement in overall performance under all the parameters during the period 2012-13 and registered a net profit of Rs. 11.70 crores against a net loss of Rs. 10.35 crores in 2011-12. In 2012-13 fleet serviceability has increased from 81% to 83% resulting in highest ever operating revenue, deployment and utilization of helicopters and resources and improved focus on high safety standards.

Pawan Hans provides helicopter support with 10 helicopters for offshore operation of ONGC. The Company provides helicopter services to State Governments of Meghalaya, Mizoram, Maharashtra, Tripura, Sikkim, Odisha, Himachal Pradesh, Arunachal Pradesh, Ministry of Home Affairs, Administration of Andaman & Nicobar Islands and Lakshadweep Islands. The Company is also providing helicopter services to NTPC, GAIL, GSPC, British Gas, etc.

In the year 2012-13, the Company secured new contracts from British Gas, Govts. of Meghalaya, Mizoram, Odisha, Maharashtra, Assam, Himachal Pradesh and Arunachal Pradesh at competitive rates. In the financial year 2012-13 the total flying hours were 31,683. Similarly, revenue flying hours in 2012-13 were 30,310 from 29892 hours in previous year. The fleet serviceability during 2012-13 also increased to 83% from 81% in the previous year.

As part of turnaround strategy in 2012-13, transformation programs and cost cutting measures were undertaken from April, 2012 which resulted in reduction in expenditure to the tune of Rs.9.40 crores in overheads. Inventory management system was improved for efficient and effective control of inventory budget. Strict control of time schedule for ONGC helicopter deployment to avoid delay in provisioning helicopters. Cross conversion of pilots on different type of helicopters was encouraged which led to their efficient utilization and higher flying hours per pilot as per CAR on all type of fleets. Monitoring of FTL/ FDTL through centralized computer system. Creation of Eastern Region for improved focus on North East Region.

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