NFL presents dividend cheque of Rs 3.83 cr to Govt

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New Delhi, Oct 15 (UNI) National Fertilizers Ltd (NFL), the leading producer of nitrogenous fertilizer in the country, today presented a dividend cheque of Rs 31.83 crore to the Government for the year 2007-08 in respect of shares held by it.

NFL has registered a profit of Rs 155.82 crore (before tax) and Rs 108.65 crore (after tax) for the year 2007-08.

NFL Chairman and Managing Director G S Mangat presented the dividend cheque of Rs 31.83 crore to Union Minister of Chemicals and Fertilizers and Steel Ram Vilas Paswan.

NFL, the second largest producer of urea and contributes around 16.5 per cent of total Urea production in the country, has an installed capacity of 32.31 lakh MT of urea and has recorded an annual capacity utilisation of 101.1 per cent during 2007-08 by producing 32.68 lakh MT urea.

The company has developed new value-added products like Neem Coated Urea which on demonstration has improved the crop yield by 4.5 per cent.

During the year, NFL recorded its every-best sales turnover of Rs 4,141 crore, a growth of 7.1 per cent over previous year.

The sale of industrial products was also the highest ever in 2007-08 at Rs 123 crore.

To encourage the balanced and efficient use of fertilizers among farmers, NFL plays a catalytic role in transfer of improved form of technology to the farmers through variety of education programmes, demonstrations and kisan melas.

NFL is a Scheduled 'A' Mini Ratna Category-1 PSU and has consistently been making profits since inception. The company has paid a cumulative dividend of Rs 839.80 crore to the government till date.

UNI BBS SBA RR KP1733

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