KRIBHCO registers highest ever profit, gives 20 percent dividend
−− Subsidiaries having done well, optimism marks AGM
Sep. 9, 2019
Krishak Bharati Cooperative Limited (Kribhco), a premier fertilizer producing farmers’ Cooperative Society has performed remarkably well by earning a pre-tax profit of Rs 205.54 crore during the financial year 2018-19. The Society has declared dividend of 20% on equity capital. This is the highest profit ever registered in Kribhco’s history so far.
Positive vibrations and optimism marked the proceedings of AGM. Both Chairman Chandra Pal Singh Yadav and MD N Samasiva Rao lauded the role played by Board of Directors and a dedicated band of staff-members for the exemplary performance.
Kribhco posted a Pre-Tax profit of Rs 205.54 crore and the society’s Net worth has increased from Rs 3,413.05 Crore in the year 2017-18 to Rs 3507.88 Crore as on 31st March, 2019, informed Chandra Pal in his presidential speech on the occasion.
Yadav said that its urea production during the year 2018-19 was 23.42 lakh MT and Ammonia production was 13.65 lakh MT with 106.74% and 109.39% capacity utilization respectively. The Society’s product basket consists of not only Neem Coated Urea but also Bio Fertilizers, Compost, Certified Seeds, Bt. Cotton Seeds, Hybrid Seeds, SSP, Zinc Sulphate and imported DAP, MOP & NPS. Kribhco sold the highest ever quantity 53.16 lakh MT of fertilizers during 2018-19.
Kribhco Infrastructure Limited (KRIL) a 100% subsidiary of Kribhco is operating eight Container rakes under Category –I license on Pan India basis. KRIL’s revenue has been recorded at Rs. 186.65 crore during the fiscal due to strategic efforts, which is the highest ever.
Kribhco Fertilizers Ltd (KFL) a wholly owned subsidiary of Kribhco has produced 10.64 Lakh MT of urea and 6.45 lakh MT Ammonia with capacity utilization of 123.05% and 128.68% respectively.
The annual accounts of the Society have been approved by the members in its 39th Annual General Body Meeting held in Delhi on Wednesday which was presided over by Dr Chandra Pal Singh, Chairman, Kribhco and attended by Directors of Kribhco and delegates of member cooperatives from different parts of the country.
“Kribhco’s fertilizer complex Plant in Hazira, Gujarat has maintained its good performance during the year. Kribhco is committed to achieving the revised energy consumption norms of 5.5GCal /MT of Urea by March 31, 2020 at this manufacturing unit. During the Financial year 2018-19 it achieved the production of 13.65 lakh MT Ammonia & 23.42 lakh MT urea which corresponds to a post revamp capacity utilization of 109.39% for Ammonia and 106.74% for urea.” said Chandra Pal.
“On marketing front, the Society has excelled and maintained its position of the second largest fertilizer marketer in the country. Kribhco, being a farmers’ organization, is supporting the Government’s initiatives of doubling farmers’ income by 2022 through reduction in cost of cultivation with judicious use of fertilizers based on free soil testing, farmers education and by promoting integrated agriculture. Kribhco also facilitates formation of Farmers Producers Organization (FPO) through its Gramin Vikas Trust,” said N Samasiva Rao, Managing Director, Kribhco.
On this occasion, Kribhco honored two eminent cooperators who have made an indelible mark on the society through their dedicated efforts in the country’s cooperative movement. The “Sahakarita Shiromani” Samman was conferred on Ramjan Ansari from Bihar and the “Sahakarita Vibhushan” Samman was conferred on Maganlal Premjibhai Ghoniya from Gujarat.
Ramjan Ansari is a dynamic Cooperator and Agriculturist from Bhabua, Bihar. He has dedicated his life for cooperative development. Maganlal Premjibhai Ghoniya is a dynamic cooperator and a great leader, who has dedicated his life towards the development of cooperative & upliftment of rural community.
The efficient handling of the entire AGM proceedings by Sanjay Singh GM, Public Relation needs a special mention. There were more than 500 delegates and all of them were satisfied both with the reception accorded to them and the food served on the occasion.
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