Tarun Karthick
Port Blair, 31 August 2023
The Andaman and Nicobar Islands Integrated Development Corporation Limited (ANIIDCO) has achieved a historic milestone by reporting its highest-ever turnover of Rs. 465.54 crores and a record level of net profit, amounting to Rs. 34.86 crores during the Financial Year 2022-2023.
The significant financial achievements were announced following the 163rd Board Meeting of ANIIDCO Ltd., held on 30th August 2023. In a notable move, the Board of Directors recommended the declaration of a dividend at an impressive rate of 30% of the net profit after tax, totalling a remarkable Rs. 10.46 crores for the Financial Year 2022-2023. This marks a substantial increase from the previous year’s dividend figure of Rs. 7.15 crores.
The declared dividend, once approved in the Annual General Meeting of the Corporation, will be disbursed to the Industries Department, Fisheries Department, and Animal Husbandry Department, which hold equity shares in ANIIDCO Ltd. The distribution will be proportionate to their respective shareholding, with the Industries Department holding the majority at 73%, followed by the Fisheries Department at 24%, and the Animal Husbandry Department at 3%.
Andaman and Nicobar Islands Integrated Development Corporation Limited (ANIIDCO) is a multifaceted entity engaged in various business verticals, contributing significantly to the development and prosperity of the region.
One of ANIIDCO’s prominent ventures is the operation of several liquor shops strategically located across the Andaman and Nicobar Islands.
In addition to its role in the liquor industry, ANIIDCO manages petrol pumps and maintains petroleum outlets, even in the remotest corners of the islands.
Further diversifying its portfolio, ANIIDCO is actively involved in the dairy business. The corporation markets packed milk and a range of dairy products, catering to the nutritional needs of the local population.
Tourism also holds a significant position among ANIIDCO’s business verticals.
Moreover, ANIIDCO extends support to aspiring entrepreneurs by venturing into the financing business. Through its lending services, the corporation provides essential financial assistance to individuals looking to establish or expand their businesses.
These ventures represent just a glimpse of ANIIDCO’s wide-ranging business interests.