Kribhco , a premier fertiliser producing farmers cooperative society has earned a pre tax profit of Rs. 230.26 crore during the financial year 2010-11.
The annual accounts have been approved by the Society in its 31st Annual General Body Meeting held on 22nd September,2011 presided over by Sh. V. R. Patel, Chairman, Kribhco and attended by Directors and 516 delegates of member cooperatives from different parts of the country at the NCUI auditorium, New Delhi.
The Society has declared dividend @ 20% for Member Cooperatives and Shareholders, consecutively for the 7th year.
Kribhco’s urea production during the year 2010-11 was 18.41 lakh MT which corresponds to capacity utilisation of 106.46% . The total sales of urea by Kribhco, including production of its joint venture plants at OMAN and at Shahjahanpur, UP, was to the tune of 38.23 lakh MT, which accounts for 13.54 % of the total urea consumed in the country.
The production and sale of seeds during the year was 2.48lakh qtls & 2.47 lakh qtls respectively. The sales of other products have also been appreciable during the year with 1.49 lakh packets of Bt cotton, 290.54 qtls of Hybrid Paddy, 1677.57 qtls of Maize, 17350 MT compost and 965 MT bio-fertilisers.
Kribhco has also diversified into Infrastructure business and established a subsidiary “Kribhco Infrastructure Ltd.” This organisation would set up Inland Container Depot(ICD) and Container Freight Stations (CFS) and deal in Logistics.
Kribhco has revived Jetty at Hazira for faster movement of imported fertilisers. The revamping of Hazira plant had also been undertaken, which would increase the urea production by 4.66LMT by 2011 end.
Shri B.D.Sinha, Managing Director, Kribhco, informed the gathering during the Annual General Meeting that Hazira Plant has maintained its good performance during the year.
On the occasion, two eminent cooperators were honoured by Kribhco for their pioneering works in promoting the cooperative movement as a catalyst for national development. The “Sahakarita Shiromani “ was awarded to Sh. Ramniklal Kababhai Dhami from Gujarat and the “ Sahakarita Vibhushan” was awarded to Shri V.P.Singh from Delhi.