KIOCL Limited Exits 100% Export Oriented Unit Scheme, Faces Rs. 36.95 Crore in Pending Demands
KIOCL Limited has received final approval to exit the 100% Export Oriented Unit (EOU) Scheme from the Development Commissioner of Cochin Special Economic Zone. The exit order, dated August 7, 2025, cancels KIOCL's previous Letter of Permission and Green Card under the EOU Scheme. The approval is subject to conditions including settling customs duties, executing legal undertakings, and complying with Foreign Trade Policy 2023. KIOCL faces Rs. 36.95 crore in confirmed demands across four pending cases. The company has executed a legal undertaking to pay any penalties under the Foreign Trade Act, 1992.
28May 25
KIOCL Reports Narrowed Q4 Loss Despite Revenue Decline
KIOCL Limited, a public sector company under the Ministry of Steel, released its Q4 financial results. Revenue decreased by 33.24% year-over-year to ₹2.47 billion. However, the company reduced its net loss to ₹368.60 million, down 14.28% from the previous year's Q4 loss of ₹430.00 million. Sequentially, KIOCL improved its performance, with net loss decreasing by 22.87% compared to the previous quarter's ₹477.90 million.
11Mar 25
Steel Ministry Clarifies: No Decision on KIOCL and NMDC Merger
The Indian Steel Ministry has clarified that there is no current decision to merge KIOCL (Kudremukh Iron Ore Company Limited) and NMDC (National Mineral Development Corporation), dispelling recent speculation in the steel sector. This statement addresses ongoing rumors about potential consolidation among state-owned mining companies. While a merger is not currently planned, the circulation of such rumors suggests possible future strategic considerations for optimizing state-owned mining company performance.