RCF pays Rs 212 Cr as dividend to Government
Published: Feb 01, 2023
By TIOLCorplaws News Service
NEW DELHI, FEB 01, 2023: RASHTRIYA Chemicals and Fertilizers Limited (RCF), an Indian central public sector under Ministry of Chemicals and Fertilizers, paid a total dividend of Rs. 3.85 per share amounting to Rs. 212.40 crore for FY 2021-22 (previous year Rs. 2.98 per share amounting to Rs. 164.40 crore). The cheque was presented to Dr Mansukh Mandaviya, Union Minister of Chemicals and Fertilizers, here yesterday.
Rashtriya Chemicals and Fertilizers Limited (RCF) for financial year 2021-22 achieved revenue from operations of Rs.12,812.17 crore registering an increase of 54.71% over previous year. Profit Before Tax and Profit after Tax for FY 2021-22 stood at Rs. 943.91 crore and Rs.704.36 crore respectively as compared to Rs. 527.98 crore and Rs.381.94 crore in the previous year.
RCF for half year ended 30 th Sept 2022 has achieved revenue from operations of Rs.10,532.46 crore and a profit before tax of Rs. 710.05 crore and profit after tax of Rs. 552.54 crore registering an increase of about 110%, 60% and 68% respectively over corresponding period of previous year.
RCF has accordingly declared an interim dividend of Rs.1.60 per share for FY 2022-23 amounting to Rs. 88.27 crore.
In accordance with the "Atmanirbhar Bharat" initiative, Rashtriya Chemicals and Fertilizers Limited has taken various steps such as:
- Phosphoric Acid production started at Trombay Unit.
- Enhanced the production of NPK Fertilizer (15:15:15 grade) at Trombay unit.
- Enhanced production of Ammonium Nitrate (AN) melts from its existing plant from 1.5 LMT to 1.9 LMT per annum by optimal utilisation of existing infrastructure.
- To meet the growing need of the domestic coal mining industry for power generation, commenced project work of setting up a new Ammonium Nitrate (AN) melt plant at an investment of Rs 187 Crore.
- With in-house R&D, developed specialized fertilizers such as Bio Fertilizer with innovative environment friendly water-soluble packaging (GEOLA), Organic Growth Stimulant (OGS), Ph Balancer, suspension fertilizer VIPULA (NPK 10:10:10 Grade), Phosphate Rich Organic Manure (PROM - SHEETALA) and Multi Micronutrient Mixture Fertilizer (SHUBHADA).
- RCF has undertaken plans to set up a liquid Nano Urea plant at its Trombay unit at an estimated investment of Rs 215 Crore. This is expected to result in economic savings to farmers, increase the crop productivity and reduce dependence on Urea imports. The project with a capacity of 75 kilo litre per day is likely to be commissioned in financial year 2023-24.
- RCF is also actively pursuing setting up a new DAP/ NPK plant at Thal with an investment of Rs 915 Crore. The proposed project shall have capacity to produce 3.6 LMTPA of NPK grades to meet the needs to Indian farmers.
- RCF commenced dispatches of "BHARAT" brand Urea under "One Nation One Fertiliser" (ONOF).
- RCF retail shops have been converted into Model Fertilizer Retail Shops under PMKSK (Pradhanmantri Kisan Samrudhi Kendra) which act as ‘one stop shop' for agricultural inputs and equipment. These kendras cater to a wide variety of needs of the farmers and provide agri-inputs (fertilisers, seeds, pesticides etc.), testing facilities for soil and fertilisers; provide information about farming techniques, weather forecasts and generate awareness among farmers.
- Achieved self-sufficiency in meeting its industrial water requirement through Sewage Treatment plants at Trombay Unit saving water needs equivalent to requirement of 30,000 families every day.
- As an environment friendly step, started work on implementing Zero Liquid Discharge (ZLD) at its Thal and Trombay units.
- Entered into long term MoUs with foreign suppliers of phosphatic and potassic suppliers to ensure sufficient availability of these fertilizers to Indian farmers.
- RCF has been appointed as State Trading Enterprise (STE) for import of Urea on behalf of GoI. As STE, till date RCF has successfully finalised 13 global tenders and imported 134.3 Lakh MT of Urea amounting to Rs 45,390 Crores. During 2021-2022, RCF has supplied 65,000 MT of Urea to Sri Lanka valued at Rs 361 Crores. RCF has also supplied 30,600 MT of Urea to Nepal valued at Rs. 190 Crores. In addition to above, under long Term Agreement, RCF has imported 7.1 Lakh MT of Urea amounting to Rs 3,256 Crores.