As the financial year concluded on March 31st, 2024, Dr. U S Awasthi, the Managing Director of IFFCO, reflected on the year that had passed. Detailing the achievements made by IFFCO in the 2023-2024 fiscal year, Dr. Awasthi also focused on future challenges and motivated his team to reach new heights in a letter he sent to them.
Dr. Awasthi commended the team for once again being ranked No. 1 globally among the top 300 cooperatives. He highlighted how IFFCO embraced innovative technologies, such as Nano Fertilizers and Agricultural Drones. He particularly emphasized the Prime Minister’s vision of “Sahkar se Samriddhi, Atmanirbhar Bharat & Atmanirbhar Krishi” as his primary source of inspiration-Editor
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Wishing you all Happiness, Success & Good Health !!!
2023-24 has been a great year for all of us as IFFCO was once again ranked 1st among the top 300 cooperatives of the world by World Cooperative Monitor, ICA. IFFCO has been positively impacting the Agriculture and Fertiliser sector by continuously bringing New Innovative technologies at the doorstep of the Indian farmers in the form of Nano Fertilisers and Agri Drones.
IFFCO has been continuously working towards serving the Cooperatives & Farmers with an aim of doubling farmer’s income and is committed to the PM’s vision of “Sahkar se Samriddhi, Atmanirbhar Bharat & Atmanirbhar Krishi.” I’m happy to share that taking inspiration from PM’s vision of “Sahkar se Samriddhi” Hon’ble Union Minister of Home Affairs & Cooperation Sh. Amit Shah Ji launched IFFCO Nano DAP at IFFCO Sadan, New Delhi. He inaugurated and dedicated India’s First IFFCO Nano DAP plant at Kalol to the nation. He also laid the Foundation Stone for IFFCO Nano Urea plant at Deoghar & IFFCO Nano DAP plant at Kandla.
With our relentless execution backed by a positive attitude, we were able to accomplish the sale of 2.04 crore bottles of our IFFCO Nano Urea Liquid and 44 Lakh bottles of IFFCO Nano DAP Liquid during the FY 2023-24. IFFCO’s step towards Precision farming & Sustainable Agriculture in the form of Nanotechnology has been a game changer for the Fertilizer sector this past year. We have also cumulatively produced 8.53 Crores bottles of Nano Urea equal to 38.4 Lakh MT of conventional Urea and 96 lakh bottles of Nano DAP equivalent to 4.80 Lakh MT of conventional DAP. We have also done more than 80,000 field demonstrations till date and trained more than 1500 rural entrepreneurs for operating agricultural drones & spraying of nano fertilisers.
With collective efforts and dedication of our Team, we were able to achieve efficient operations resulting in production of 88.95 Lakh MT of fertilizers, which includes 48.85 Lakh MT Urea and 40.10 Lakh MT NPK/DAP/ WSFs & Specialty Fertilizers during FY 2023-24 from IFFCO Plants.
We have achieved the total sales of 112.26 Lakh MT of fertilisers which includes 110.46 Lakh MT of bulk fertilisers, 1.80 Lakh MT of WSF / Specialty Fertilisers / Sagarika Granule Fertiliser & 8.63 Lakh Litres of Sagarika Liquid. We were able to achieve dispatches of 113.06 Lakh MT of Urea / NP/NPK/DAP / WSFs & Specialty Fertilizers & Nano Fertilisers across the country IFFCO Plants.
We have achieved the total sales of 112.26 Lakh MT of fertilisers which includes 110.46 Lakh MT of bulk fertilisers, 1.80 Lakh MT of WSF / Specialty Fertilisers / Sagarika Granule Fertiliser & 8.63 Lakh Litres of Sagarika Liquid. We were able to achieve dispatches of 113.06 Lakh MT of Urea / NP/NPK/DAP / WSFs & Specialty Fertilizers & Nano Fertilisers across the country.
It is highly appreciable that we have sold 8.37 Lakh Litres of Biofertilisers which will result in better soil health
Friends, I am glad to share that our Profit Before Tax is expected to be around ?3000 crore. The expertise of Strategic Management Group has ensured profitable operations & higher financial returns from overseas ventures.
I’m delighted to announce that IFFCO commissioned a new Sulphuric Acid Plant-III at its Paradeep unit this Financial Year.
This year we embarked on a Journey to revolutionize Agriculture as we ventured into Al based Agri Drone technology. IFFCO introduced IFFCO Kisan Drone to provide Agri Drones for spraying Nano Urea & Nano DAP to the farmers which will generate 5000 rural entrepreneurs across the country. In line with PM’s initiative of NaMo Drone Didi, IFFCO provided Agri Drone training and also delivered the Agri Drones to 300 Namo Drone Didis as Agri Drones pilots thus empowering rural women positioning them as front runners of the Agricultural revolution.
Human Resource / Industrial Relations and legal services of IFFCO deserve appreciation for the outstanding work done during the year. Integration of the hiring process with Artificial Intelligence has reduced human interventions and brought transparency and objectivity to the hiring process. I would like to appreciate our legal team for their significant work on the Registration of Patent for our Nano products.
I take pride in stating that the IFFCO family displayed exemplary commitment in achieving great results this year. On this note, I would like to congratulate everyone at Plants, Marketing, Finance, Commercial, CR, IT, HR & Legal, PR, Hindi & Sahitaya, Safety & Security, Real Estate & Civil, Vigilance and other teams for their perseverance and hard work.
I take this opportunity to congratulate the management of all our Joint Ventures, Subsidiaries and Associates for their outstanding performance & whole-hearted support.
I would like to thank our Chairman Sh. Dileep Sanghani, Vice Chairman Sh. Balveer Singh for their continued support and guidance. I would also like to thank all the employees of IFFCO, IFFCO Employees Union and IFFCO Officers Association for their constant support to the management. I express my gratitude to the Department of Fertilizers, Ministry of Cooperation, Ministry of Agriculture, and Farmers Welfare along with Indian and International Media for their valuable support and assistance from time to time.
I would like to thank Hon’ble Union Minister of Home Affairs & Cooperation Sh. Amit Shah Ji for his continued guidance and support in all our endeavors and Union Minister of Health & Family Welfare and Chemicals & Fertilizers Dr. Mansukh Mandaviya Ji for his dedication & commitment towards strengthening the fertiliser sector.
Friends, I would like to state that together at IFFCO, we have faced many challenges and obstacles in our journey for providing innovative solutions for modern agriculture but we successfully came out of them.
“We give Wings to Thoughts & turn them into Reality”
With bigger aspirations and optimism, let us continue our journey of Growth and Innovation towards Service to Farmers & Cooperatives forward. Best Wishes for a New Financial Year 2024-25.
Stay Safe, Stay Healthy
Dr U S Awasthi