61st AGM: Gujcomasol earns profit; promotes sale of Nano Urea

Gujarat State Cooperative Marketing Federation (Gujcomasol) earned a net profit to the tune of Rs 7.22 crore in the 2021-22 financial year, it was announced during the 61st Annual General Meeting of the federation held on Sunday, last week.

The federation has achieved a sales turnover of Rs 2,478 crore in the 2021-22 FY. In the last financial year i.e. 2020-21, the reserves and other funds of the federation were Rs 107 crore, which increased by Rs 8.28 crore. Thus, during the year, it stood at Rs 115 crore.

The meeting, which was organized at Gandhinagar, Gujarat, registered participation by the who’s who of the cooperative leadership of the state. The veteran leaders of the cooperative sector especially from Gujarat were assembled together.

During the financial year, Gujcomasol earned a gross profit of Rs 11.72 crore. The share capital of the federation as of 31st March 2022 stood at Rs 3.01 crore.

The federation is headed by Dileepbhai Sanghani who doubles as the Chairman of IFFCO.

Besides, Gujcomasol is also making efforts to increase the sales of Nano urea based on Nano technology, which is developed by IFFCO. In this regard, it has been organizing farmers’ meetings and field demonstrations at the village level in collaboration with IFFCO for creating awareness.

The total sale of fertilizers as of 31st March 2022 stood at 14.20 lakh MT worth of Rs 1487 crore. The maximum fertilizer was supplied by IFFCO, KRIBHCO, GSFC and GNFC.

During the year, the federation opened its own depots to sell fertilizers, seeds, pesticides and other inputs to farmers as well as cooperatives. The total depots increased from 91 to 95 in the 2021-22 FY.

Gujcomasol opened 59 purchased centers for the purchase of Tur at various market yards in the state whereas for the procurement of Gram, it has opened 121 centers.

Gujcomasol has started the production of Chlorpyriphos 50 % + Cypermethrin 5 % EC which is known by the brand name “Gujcochlormethrin 505” in the market. In the current year 2022-2023 “Gujcothrin 404 ” is the new product (coming soon) which is a combination of Profenofos 40 % + Cypermethrin 4 % EC.

The federation has its own 157 godowns having storage capacity of 2.10 lakh metric ton. It has also purchased four new shops at Surendranagar.

It bears recall that recently Union Home and Cooperative Minister Amit Shah inaugurated a new building of Gujcomasol at GIDC in Gandhinagar. The newly constructed head office of Gujcomasol is spread over a big area becoming a Farmers’ Hub.