NFL PRESENTS RECORD DIVIDEND CHEQUE
TO THE PM
National Fertilizers
Limited (NFL) has presented dividend cheque of Rs. 292.92 crore
to the Government in respect of shares held by it. The Company,
in its 29th Annual General Meeting approved highest-ever
dividend of Rs. 300 crore to the shareholders.
Shri P.S. Grewal,
Chairman & Managing Director, National Fertilizers Limited
presented the Dividend Cheque to the Hon'ble Prime Minister. Shri
Atal Behari Vajpayee at his residence this evening. Hon'ble Minister
of Chemicals & Fertilisers, Shri S.S. Dhindsa, Shri Nripendra
Mishra, Secretary (Fertilizer) and top officials of the Ministry
and NFL were also present on the occasion. It is noteworthy that
NFL is a Mini Ratna Category-I Company and has consistently been
a profit making Company since inception and it has paid a cumulative
dividend of Rs. 644.57 crore to the Government till date against
paid up equity of Rs. 490.58 crore.
During the year
2002-2003, NFL achieved a record sales turnover of Rs. 3,654 crores
with a pre-tax net profit of Rs. 448.43 crores. It produced 32.12
lakh tonnes of Urea during 2002-2003. NFL has been making consistent
profits and has recorded more than Rs. 1,612 crore pre-tax profits
during the last decade alone. Further, the Company has made the
highest ever contribution to the Exchequer of Rs. 443.74 crore
out of which Rs.333.14 crore to the Central Exchequer and Rs.110.60
crore to the State Exchequer in the form of duties, taxes and
dividend. NFL has maintained its steady growth over the year and
has flourished to its present enviable stature in the Indian Fertilizer
Industry with a market share of about 17 per cent urea in the
domestic production during 2002-2003. NFL is the first Fertilizer
Company in the country with ISO 9001 certification for all its
operations and also has ISO 14001 for Environment Standards for
all Units. The Company is propagating the balanced use of fertilizers
to sustain the agricultural sector.
Research &
Development efforts undertaken in close collaboration with Scientists
of Indian Agricultural Research Institute, New Delhi has yielded
good results and NFL has developed Neem-coated Urea at its Panipat
Unit. The development of Neem-Coated Urea during trial runs showed
4 per cent to 5 per cent enhanced crop yield. The Company has
planned to market this production on commercial basis during 2003-2004.
Ministry of Labour
(Government of India) has conferred National Safety Award (winner)
to Nangal Unit for achieving Longest Accident-free Period for
the year 2002.
