The Company announces profit crossing Rs 1000 crore and achieved the highest ever production of 91.42 Lakh Metric in 2019-20
Amid the spectre of Corona Virus looming large, there is good news coming from the largest fertilizer cooperative IFFCO. The co-op titan has produced and sold the highest amount of fertilizer ever in the country, beating its own previous records.
“In the Financial Year 2019-20 we were able to register a profit of more than 1000 Crore (PBT). We managed to achieve the highest ever production of 91.42 Lakh Metric”, announced a jubilant MD Dr U S Awasthi.
Listing the new initiatives like Nano fertilizer, Sikkim IFFCO Organics and IFFCO Bazar, the MD goes on cheering his team while thanking his Board of Directors including Chairman B S Nakai and Vice-Chairman Dileep Sanghani for their continual support and guidance.
Starting the new financial year, the MD pens this letter listing IFFCO’s achievements, challenges and what the future has in store for the co-op behemoth.
Excerpts:
In the Financial Year 2019 – 20 we were able to register profit of more than 1000 Crore (PBT). We managed to achieve the highest ever production of 91.42 Lakh Metric.
Tonnes of fertilisers which includes highest ever production of Urea at 48.75 Lakh Metric Tonnes, highest ever production of DAP at 20.93 Lakh Metric Tonnes and also the highest ever production of NP/NPK/DAP/WSFS at 42.67 Lakh Metric Tonnes. Paradeep unit achieved its highest ever production of NP/DAP. Our three Urea plants Kalol, Phulpur & Aonla achieved the lowest composite energy consumption of 5.285 GCal/MT of Urea. Kalol, Phulpur, and Aonla units also achieved the highest ever production of Urea.
IFFCO has achieved highest ever yearly record despatch of 133.24 lakh MT of Urea/NP/NPK/DAP/WSF and other Speciality fertilizers, in the year 2019-20 from IFFCO’s Plants at Kalol, Phulpur, Aonla, Kandla, Paradeep and Ports.
Correspondingly, we were able to sell 133.30 Lakh Metric Tonnes of fertilisers, the highest sales figures in history of IFFCO. I congratulate both the production and marketing teams for their stellar performance and encourage them to keep up the good work.
Apart from this, our novel project of nanotechnology based products is on the right track. The marketing, R&D and the IT teams are working with excellent synergy on this project. We have commenced over 11,000 trials of these fertilisers across India. The results of these trails are promising and motivating. Farmers are able to see a visible change in the quality and quantity of their output. This will be a game changer in the field of nutrient application.
In FY 2019-20 we also launched two exciting initiatives.One being, Sikkim IFFCO Organics Pvt. Ltd., to promote and market the organic produce from the State of Sikkim and other North-Eastern states of India. The other one being www.iffcobazar.in, our unique e-commerce portal to sell non subsidized IFFCO’s agri related inputs online.
