Union Minister of Chemicals & Fertilizers receives dividend receipt of Rs. 167.16 crore from Rashtriya Chemicals & Fertilizers Limited
17 February 2021, New Delhi, IN: Union Minister of Chemicals& Fertilizers Mr. D.V.Sadananda Gowda, today received highest ever dividend of 28.4% for the FY 2019-20 amounting to Rs. 117.51 crore from Rashtriya Chemicals & Fertilizers Limited (RCF). In addition, RCF has also handed over an interim dividend of Rs 49.65 crore for FY 2020-21.
The dividend cheque was presented by Mr. Shriniwas C. Mudgerikar, Chairman & Managing Director of RCF in presence of Mr. R K Chaturvedi, Secretary (Fertilisers) and other senior officers of Department of Fertilisers.
Speaking on the occasion, Mr. Gowda said that performance of RCF has been remarkable during current fiscal considering the disruptions caused by corona pandemic. It is worth appreciating that despite all odds, the company has been able to register an increase of 235.65% in net profit to Rs. 221.09 crore in the current FY (up to December 2020) as compared to Rs. 65.87 Crore achieved during the corresponding period of previous year.
It may be recalled that RCF is a leading fertilizers and chemicals manufacturing and trading company with about 75% of its equity held by the Government of India. It has two operating units, one at Trombay in Mumbai and the other at Thal in Raigad district of Maharashtra. RCF manufactures Urea, Complex Fertilizers, Bio-fertilizers, Micro-nutrients, 100 per cent water soluble fertilizers, soil conditioners and a wide range of Industrial Chemicals. The company is a household name in rural India with brands like “Ujjwala” (Urea) and “Suphala” (Complex Fertilizers) which carry a high brand equity. RCF has countrywide marketing network in all major states. Besides fertilizer products, RCF also produces a large number of industrial chemicals that are important for the manufacture of dyes, solvents, leather, pharmaceuticals, bakery products and a host of other industrial products.
Performance highlights of the FY 2019-20 have been as under:
Highest ever annual revenue of Rs. 9697.95 Crore.
RCF declared highest ever dividend of 28.4% of equity share for the FY 2019-20 amounting to Rs. 156.68 Crore (Government share @75% Rs. 117.51 Crore)
Highest ever Annual sale of RCF’s premium NPK fertilizer Suphala.
RCF launched two new products during the FY: Organic Growth Stimulant &Water-Soluble Silicon Fertilizers.
RCF commissioned 15 million liters per day capacity Sewage Treatment Plant during FY 2019-20.
RCF got recognized as a ‘State Trading Enterprise’ for import of urea on Government account.
In response to national vision of “Aatmanirbhar Bharat” and for import substitution of Chemical products, RCF has initiated several steps. Some of these are as mentioned below:
RCF has successfully restarted Methanol production from 8th Sept 2020 at its Trombay Unit. Apart from trading, the captive requirement of Methanol is fulfilled by using this in-house Methanol production thereby completely stopping the import of Methanol for in-house and trading purposes.
Additional Ammonia plant at its Trombay Unit has been brought in operation to fulfil the requirement of Ammonia. This will also result in reduction of Ammonia imports.
RCF is manufacturing various Industrial Chemical products having high brand value. Production of our Industrial Chemical Plants: Nitric Acid, Ammonium Nitrate, Ammonium Bicarbonate, Concentrated Nitric acid and Sulphuric acid is optimized to meet the market demand. Despite the challenges faced due to COVID 19 pandemic, RCF has registered excellent achievements in the current year primarily in Industrial Products. Some of the highlights are:
Monthly highest sale of AN melt of 16,561 MT was achieved in the month of Nov 2020.
Achieved Daily highest sales record of Ammonia, Nitric Acid, Ammonium Nitrate melt, Ammonium Bicarbonate.
RCF has achieved highest ever daily sale of its Industrial products of Rs 5.44 Crores on 18th Nov 2020.
RCF has introduced IPA based hand cleansing gel in the market. The product was introduced in the current situation to help in controlling the spread of the COVID pandemic.
Also Read: PAU imparts training in pest and disease management in Horti-crops
Photo credit: Danny Chiam on VisualHunt / CC BY-NC