The leading fertilizer cooperative Krishak Bharati Cooperative (KRIBHCO) kicked off its 36th Annual General Meeting in NCUI’s Auditorium, Thursday with its business growth on the upbeat compared to the previous year. There was a sense of general happiness among participants due to rise in profit in the current year.
Addressing a huge gathering of delegates drawn from all states across the country, Chairman of the fertilizer cooperative Dr Chandra Pal Singh Yadav said ”despite delay in payment of subsidies from the GOI our society has earned a profit (before tax) of Rs 274.91 crore during the year 2015-16 as against Rs 52 crore in the previous year.
Readers would note that last year the fertilizer cooperative had disbursed 15 percent dividend to its members. But this year Kribhco would offer 20 per cent dividend in a bid to make good on Chairman Chandra Pal Singh’s promise.
Chandra Pal Singh said ”in the field of marketing KRIBHCO performed exceedingly well to maintain the second highest market share of urea sales in the country and sold up to 43 lakh MT of Urea”.
He said ” the hybrid seed has been playing an important role in Indian Agriculture in maximizing yield and providing quality seeds to farmers. The fertiliser cooperative has nailed a marketing tie-up down with a leading Hybrid Seed Company for marketing the KRIBHCO brand,” Yadav noted.
Explaining his initiative he has taken in the interest of farmers, Yadav said ”we are operating about 63 Krishak Bharti Sewa Kendras through which farmers are getting quality Agro-inputs. We have organized several programmes like farmers meetings, and co-operative conferences for the benefit of farmers.
Expounding on the future plans, he said ”we are working to set up a state of the art DAP/Complex fertilizer plant near Krishnapatnam Port on the East coast of India.
In his remarks, KRIBHCO Managing Director N. Sambasiva Rao said ”despite a severe drought situation in areas in south and west, KRIBHCO has pulled off a spectacular performance in production and marketing. Even our Hazira fertilizer plant at Surat has achieved the highest ever production” he claimed.
He informed the delegates that KRIBHCO’s Shyam Fertilizers has become its 100 % subsidiary. However, the delay in the payment of subsidy by the govt. of India has affected its profit margin, he rued.
Besides chairman, KRIBHCO Vice Chairman, V R Patel, Director, Sunil Kumar Singh, Bhanwar Singh Shekhawat, Pareshbhai R. Patel, V Sudhakar Chowdary, NCUI Vice-Chairman G H Amin, Vishal Singh, KRIBHCO officials including Sanjay Singh, DGM were present on the occasion.
Delegates also poured their hearts out on this occasion. One of them Rajendra from Maharashtra said KRIBHCO should set-up a pulse unit in the state. Another delegate from UP, Bharat Tripathi said fertilizer cooperative should revive the state advisory committee.
Mohan Lal from Gujarat demanded that dividend should be transferred to the societies’ accounts instead of giving cheques. Sushil Rathi from Uttarakhand said Urea bag must be water proof.
KRIBHCO Director Bijendra Singh Proposed a vote of thanks.