AGM: Vishal led NCCF registers historic gains in turnover & profits

The 53rd AGM of National Consumers’ Cooperatives Federation (NCCF) held on Friday at the NCUI headquarters, was historic in many ways. From turnover to profits, the apex consumer co-op registered growth.

It was revealed during the meeting that in the 2022-23 financial year, NCCF not only registered an impressive growth in total sales but also earned a handsome profit, which is the highest in its history. Besides, the apex body disbursed 10 percent dividend to its shareholders after a gap of many years.

Interestingly, it was also the first AGM, which was conducted under Vishal Singh’s chairmanship. The hall was packed with cooperators who came from distant places to attend the AGM and the event was filled with positive vibes.

In his address, Vishal Singh said, “We have performed well in the 2022-23 FY and are continuously making efforts to take the consumer cooperative movement to newer heights. Our total sales increased from Rs 2309 crore (2021-22) to Rs 2811 crore as on 31st March 2023”.

“NCCF earned a net profit of Rs 29.25 crore in the 2022-23 FY. Earlier, i.e. 2021-22 the profit was Rs 23.58 crore. During the year, NCCF supplied 3.5 lakh metric ton rice worth Rs 1224 crore to the states of Tamil Nadu and Karnataka”, said Singh in his speech.

He further added, “We have supplied pulses to the government of Himachal Pradesh and procured rice from the states of Assam, Tamil Nadu and West Bengal. Besides, during the year, NCCF also provided agriculture inputs to Uttar Pradesh, Jharkhand and Rajasthan governments. NCCF has been designated as an agency for the first time under the Price Support Scheme and the Price Stabilization Scheme”, the Chairman averred.

NCCF is also looking forward to supplying food items to paramilitary forces in the future.

Addressing the participants, Anice Joseph Chandra, MD, NCCF said, “We are on the growth path and making efforts to upgrade ourselves with the latest technology. We will work together with our members to create new milestones. Our focus is to work in mission mode”.

“Recently, we have also done a lot of work, especially in stabilizing the prices of onion and tomatoes. At present, we are providing Chana dal and onion at subsidized rates to consumers through the mobile vans”, she said.

On this occasion, delegates also made several suggestions before the chair like making new members and resolving the issues pending in different courts of the country.

The important issue which was discussed threadbare included the restoration of the membership, which had been cancelled on various grounds. The delegates asked the NCCF management to look into the matter and resolve the issues at the earliest.

The AGM was attended by Chandra Pal Singh Yadav, Dileepbhai Sanghani, Bijendra Singh, Sunil Singh, Paresh Patel and many other cooperators.