RCF hands over highest dividend amount to Chemicals & Fertilizers Ministry for FY 2019-20
Ministry receives highest ever dividend of 28.4% for the FY 2019-20 amounting to Rs. 117.51 crore from Rashtriya Chemicals & Fertilizers Limited.
Union Minister of Chemicals & Fertilizers receives dividend receipt of Rs. 167.16 crore from Rashtriya Chemicals & Fertilizers Limited for FY 2019-20 and FY 2020-21. Union Minister of Chemicals& Fertilizers D.V.Sadananda Gowda, received highest ever dividend of 28.4% for the FY 2019-20 amounting to Rs. 117.51 crore from Rashtriya Chemicals & Fertilizers Limited (RCF). In addition, RCF has also handed over an interim dividend of Rs 49.65 crore for FY 2020-21.
The dividend cheque was presented by Shriniwas C. Mudgerikar, Chairman & Managing Director of RCF in presence of R K Chaturvedi, Secretary (Fertilisers) and other senior officers of Department of Fertilisers.
Speaking on the occasion, Gowda said that performance of RCF has been remarkable during current fiscal considering the disruptions caused by corona pandemic. It is worth appreciating that despite all odds, the company has been able to register an increase of 235.65% in net profit to Rs. 221.09 crore in the current FY (up to December 2020) as compared to Rs. 65.87 Crore achieved during the corresponding period of previous year.
It may be recalled that RCF is a leading fertilizers and chemicals manufacturing and trading company with about 75% of its equity held by the Government of India. It has two operating units, one at Trombay in Mumbai and the other at Thal in Raigad district of Maharashtra. RCF manufactures Urea, Complex Fertilizers, Bio-fertilizers, Micro-nutrients, 100 per cent water soluble fertilizers, soil conditioners and a wide range of Industrial Chemicals. The company is a household name in rural India with brands like “Ujjwala” (Urea) and “Suphala” (Complex Fertilizers) which carry a high brand equity. RCF has countrywide marketing network in all major states.