Kribhco does well in FY 2018-19; MD vows to increase value for member societies

KRIBHCO, another giant fertilizer company in cooperative fold has performed remarkably well in the Financial Year 2018-19; said MD, N. Sambasiva Rao in an interview to Indian Cooperative.

Explaining further N. Sambasiva Rao said “Early estimates suggest that total revenue will be in excess of Rs. 9000 crore and pretax profit will be approximately Rs. 150 crore, despite substantial burden of finance cost and difficult economical & industrial environment, reflecting strong underlying performance across all vertical.”

“Our production team has performed exceedingly well and in FY 2018-19 Society has produced 23.42 Lakh MT of Urea. Our sister concern KFL has produced 10.63 Lakh MT of urea, which is its highest ever production”, MD added.

KRIBHCO plants have been operating at the highest level of energy efficiency and cost control and this was made possible by our able and competent production team, said MD lauding his team. “Our Society is committed towards Safety, Health and Environment and has ensured over the years zero deviation in compliance to all SHE norms”, he underlined.

Talking about finance, Mr. Rao said “Financial management of Society has been excellent. Society has kept finance cost at lowest possible level and has maintained financial prudence.” He also applauded performance of HR and Technical team at HO for their commendable job.

KRIBHCO’s Marketing team has done an exemplary show in FY 2018-19 by crossing its own records in many aspects. “Our sales volume have increased to the excess of 52.5 Lakh MT for all fertilizers and it was only possible due to hard work and consistent effort of marketing team”, MD noted. Quality of sales has also improved significantly and we have increased our market share & market penetration in many regions, he added.

Growing nostalgic N. Sambasiva Rao said “Seeds of our current strength were planted years ago. We believed that growth would come from having scale and maintaining a complete product offering for farmers.”

“These elements anchored the profitability that enabled us to sustain our growth, all while improving the product offering across geographies. To promote sustainable growth and integrated nutrient management, “Society has sold more than Six Lakh liter of Biofertilizer and more than 25000 MT Compost”, MD underlined.

“At KRIBHCO we always strive to increase value for our member societies and farming community and our initiatives to increase our product basket our steps taken in the same direction”, he concluded.