Gujarat State Cooperative Marketing Federation (Gujcomasol) earned a net profit of Rs 23.42 crore in 2022-23 FY, which is three times higher in comparison to the 2021-22 FY. Earlier i.e. 2021-22 the net profit was Rs 7.22 crore.
It was announced in the 62nd Annual General Meeting of the Gujcomasol held on Tuesday at Ahmedabad under the chairmanship of Dileepbhai Sanghani who is also the Chairman of NCUI and IFFCO. The federation has achieved a sales turnover of Rs 4,764 crore in the 2022-23 FY.
“The total turnover of the Gujcomasol crossed to more than Rs 4700 crore in the 2022-23 FY. Again, this year, the marketing co-operative proposed to pay 20 percent dividend to our shareholders”, said Sanghani while addressing the AGM.
He further added, “The total sales of fertilizer and sales of seed increased to Rs 1835.37crore and 101.47 crores respectively. The fertilizers were supplied by IFFCO, KRIBHCO, GSFC and GNFC.
Talking to the Indian Cooperative, Gujcomasol Chairman Dileep Sanghani said, “We have performed well on all the financial parameters and plan to have new business areas, we are able to earn an impressive net profit this year as also we reduced the cost of management this time.
“We are making efforts to open new avenues for the development of Gujcomasol. We will sell our products and other things through Gujco Mall. It is one of its kind in which farmers and others will get agriculture inputs and other things under one roof”, he added.
It is worth mentioning that under the leadership of Sanghani, the marketing cooperative body is growing well. He took charge as the Chairman of Gujcomasol on 17th July 2017. In 2016-17, the turnover was Rs 1626 crore but in 2022-23, it has increased to Rs 4700 crore under his leadership.
