NFL
PRESENTS HIGHEST EVER DIVIDEND CHEQUE FOR 2001-2002 TO GOVT.
Shri P.S. Grewal,
Chairman & Managing Director, National Fertilizers Limited
presented dividend cheque of Rs. 95.80 crores to Shri S.S. Dhindsa,
Union Minister for Chemicals & Fertilizers here today. Shri
Tapan Sikdar, Minister of State for Chemicals & Fertilizers,
Shri Nripendra Mishra, Secretary (Fertilizer), other top officials
of the Ministry and NFL were also present on the occasion. NFL
has consistently been a profit making company since inception
and it has paid a cumulative dividend of Rs.351.65 crore to the
Government till date against paid up equity of Rs. 479.00 crore
(Government share).
National Fertilizers
Limited (NFL) – A Mini Ratna Category-I Company, presented the
dividend cheque to the Govt. in respect of shares held by it.
The Company in its 28th Annual General Meeting held
on 27.9.2002 has approved highest-ever dividend of Rs. 98.12 crore
to the share-holders, which is 20 per cent of the equity for the
financial year 2001-2002. During 2001-2002, NFL achieved a record
sales turnover of Rs. 2943 crore with a net profit of Rs. 48.33
crore. NFL produced 14.97 lakh tones of Nitrogen during 2001-2002.
During the initial
five months of current fiscal 2002-2003, NFL Plants have achieved
cumulative urea production of 12.48 lakh tonnes, (5.74 lakh tonnes
of Nitrogen), which is 98.3 per cent of the targeted production.
Consequent upon finalization of 7th & 8th
pricing periods by Government, the Company is likely to get substantial
arrears. The Bathinda Unit has been honoured with two National
Safety Awards recently for achieving lowest average frequency
rate of accidents. Company is providing technical assistance for
Operation & Maintenance of refineries in Kuwait. A new project
on Integrated Plant Nutrient Supply System has been undertaken
in Malwa region of Punjab with the main thrust on natural resource
management. Another
Agriculture Extension Project to promote eco-friendly crop rotations,
promotion of soil tests based fertilizer recommendations on IT
related media for agriculture development is being considered
jointly by the Company and State Government of Madhya Pradesh.
