RCF hands over dividend cheque for Rs 51 crore to Paswan

New Delhi, July 17 (UNI) State owned Rashtriya Chemicals and Fertilisers Ltd (RCF) today handed over a dividend cheque worth Rs 51,03,14,900 to Minister for Chemicals&Fertilisers and Steel Ram Vilas Paswan.

The Government holds 92.5 per cent of the equity in the public sector enterprise.

The RCF declared Rs 55.72 crore at the rate of 10 per cent dividend for 2006-07. Besides Government, the financial institutions holding 2.06 per cent equity have earned 1.14 crore rupees while public and corporate bodies holding 5.4 per cent equity got 3 crore.

RCF CMD R C Jha, who handed over the cheque, said that company has become one of the top 10 PSEs on the basis of excellent performance. The company, crossing Rs 3,500 crore mark for the first time, has earned an income of Rs 3,645 crore against Rs 3,187 crore in previous year registering growth of 14.33 per cent.

The Company earned a gross profit of Rs 364 crore as against Rs 284 crore in previous year. However, the net Profit Before Tax (PBT) at Rs 241 crore registered an increase of 11.86 per cent over previous year PBT of Rs 216 crore.

He said a DAP Plant is being set up in Rajasthan at Kapasan near Udaipur by a Joint Venture Company Rajasthan Rashtriya Chemicals and Fertilisers Ltd (RRCS). RCF is also participating in revival of two closed fertilizer units.

With the help of Government, RCF is contemplating to mobilize the necessary resources (Rs 6,500 crore) for these two projects, he added.

Mr Jha further said RCF is coming out with Australian technology to produce load-bearing panels from its waste product Gypsum. These panels will substitute conventional bricks in building houses. These houses will be stronger more economical and less time taking in construction than the conventional houses.

UNI