41st AGM: Delegates upbeat as Kribhco earns highest profit ever

Despite Covid restrictions, fertilizer co-op giant Kribhco has done wonderfully this financial year by not only earning the highest profit in its history but also selling the highest amount of fertilizer. This led to a sense of excitement among delegates during the 41st AGM, held at the NCUI headquarters in Delhi on Thursday.

“Kribhco has earned profit before tax of Rs.513.13 crore during the financial year 2020-21 and hereby I announce dividend @ 20% on the share capital for the financial year” declared Kribhco Chairman Chandra Pal Singh, amidst thunderous applause.

The agenda placed before the Assembly by the Kribhco Managing Director Rajan Chowdhary was passed in no time, as members said they already have an advance copy of the same.

While the meeting was presided over by Dr. Chandra Pal Singh, President, KRIBHCO, the AGM was attended by directors of KRIBHCO and representatives of the member cooperative societies from different parts of the country. NCUI President Dileep Sanghani also graced the occasion. The Annual General Meeting was organized in hybrid mode through the virtual link in which 502 General Assembly delegates from 45 different places from different states participated.

Giving details of its performance, Chandra Pal said “Kribhco’s Urea production during the year 2020-21 was 23.23 Lakh MT and Ammonia production was 14.02 Lakh MT which is equivalent to 105% and 112.43% of the production capacity utilization respectively. The products of the Society not only include Neem Coated Urea but also include Bio-fertilizers, Compost, Certified Seeds, Bt Cotton Seeds, Hybrid Seeds, SSP, Zinc Sulphate and imported DAP, MOP and NPS. KRIBHCO has sold 56.30 lakh MT of fertilizers during the financial year 2020-21, the highest ever.”

“Kribhco Fertilizers Limited (KFL), a wholly-owned subsidiary of KRIBHCO, produced 10.74 Lakh MT of Urea and 6.46 Lakh MT Ammonia which is 124.26% and 128.83% of the capacity utilization for Urea and Ammonia respectively”, informed Chandra Pal.

Kribhco has received several awards and accolades for its excellent performance in various areas of its operations, noted the Chairman. It is committed to increasing the income of farmers by reducing the cost of cultivation by promoting free soil test-based fertilizers, judicious use of fertilizers, training of farmers, and integrated farming. KRIBHCO also facilitates formation of Farmer Producer Organizations.

Kribhco MD Rajan Chowdhary, who was lauded for exemplary performance during the year, informed that despite the challenges posed by the pandemic, Kribhco has performed excellently and has achieved the highest ever sales of fertilizers. He thanked the Board and his team for their efforts.

Chowdhary also informed that the Subsidiary of Kribhco, KFL has broken its previous record of Specific Energy Consumption by setting a new record so far for Minimum Specific Energy Consumption for Ammonia as well as Urea.

Several RGB members from across the country also spoke on the occasion. While most of them thanked the Kribhco team for 20% dividends, some of them demanded more urea for their areas. Notable speakers included, Jagjit Singh Sagwan Khem Chand Yadav from Jaipur, Ram Kalever Singh from Patna, Shilpi Arora from Uttarakhand, Amrit Lal Birla from Morbi, Gujarat, Mahendra Vaishnav from Raipur, Vipin Dada from Maharashtra, and others.

The video conferencing went off very smoothly without a single incident of technical glitch. Kribhco Vice-Chairman V Sudhakar Chaudhary proposed a vote of thanks.