KRIBHCO earns pre-tax profit of Rs 1,493.26 crore in FY22, declares 20 per cent dividend
The annual accounts of the Society were approved by the members in its 42nd AGM, 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 in New Delhi.
Krishak Bharati Cooperative Limited (KRIBHCO), a premier fertilizer-producing farmers’ cooperative Society, has earned a pre-tax profit of Rs. 1,493.26 crore during the financial year 2021-22. The Society has declared a dividend at the rate of 20 per cent on equity capital for the year.
The annual accounts of the Society were approved by the members in its 42nd Annual General Body Meeting (AGM) held on 29 September 2022. The AGM 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 at NCUI Auditorium, New Delhi.
KRIBHCO’s urea production during the year 2021-22 was 22.08 lakh metric tonnes (MT) and ammonia production was 13.29 lakh MT with 100.60 per cent and 106.50 per cent 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 and natural potash. KRIBHCO sold 44.00 lakh MT of fertilizers during 2021-22.
KRIBHCO Fertilizers Ltd (KFL), a wholly owned subsidiary of KRIBHCO, has produced 9.65 lakh MT of urea and 6.05 lakh MT ammonia with capacity utilization of 112 per cent and 121 per cent respectively.
Dr Chandra Pal Singh, Chairman, KRIBHCO, addressing the AGM
Rajan Chowdhry, Managing Director, KRIBHCO, informed the august gathering that KRIBHCO had maintained the highest standards of achievement in terms of production and other parameters. KRIBHCO also achieved the highest-ever profit. Chowdhry also informed that the subsidiary company of the Society, KFL, has performed well and declared a dividend of 5 per cent.
In order to promote the balanced use of fertilizers, KRIBHCO has imported the highest quantity of DAP and NPK/S fertilizers. To diversify its operations, KRIBHCO has incorporated two wholly-owned subsidiaries, namely KRIBHCO Agri Business Private Limited and KRIBHCO Green Energy Private Limited. The Society had received many awards in recognition of its excellent performance in various fields of operations.
KRIBHCO has honoured two eminent cooperators for their enormous contribution to the field of cooperation in the country. KRIBHCO Sahakarita Shiromani award was conferred on Ch. Sheeshpal Singh from Hapur, Uttar Pradesh, and KRIBHCO Sahakarita Vibhushan award was conferred upon Ch. Sukhbir Singh Panwar from NCT of Delhi.
