Home Economy IFFCO Records Highest Production, Sales, Profit & Operations in FY 2019-20

IFFCO Records Highest Production, Sales, Profit & Operations in FY 2019-20

Setting up a true Vocal for Local example for country, Cooperative’s Net Profit & Group Turnover goes up

New Delhi, 15 th July, 2020: World’s biggest fertiliser cooperative Indian Farmers Fertilser Cooperative, IFFCO has created history by posting highest ever Production, Sales, Profit and Despatches of fertilisers for the financial year 2019-20.For the first time, IFFCO records the highest ever net profit after tax (PAT) at Rs 1005 crore during the last fiscal year 2019-20. It also posted the highest ever sales of fertilisers for 133 lakh tonnes despite the difficult & random market and weather conditions. IFFCO’s group turnover in FY 19-20 stood at Rs. 57,778 Crores which was Rs. 50,908 in 2018-19.

On operational front, IFFCO’s total production of fertilisers increased to 91.42 lakh tonnes last fiscal year, from 81.49 lakh tonnes in the previous year. Out of total fertilisers production in 2019-20, Urea output was 48.75 lakh tonnes which was 45.62 lakh tonnes last year. The production of DAP/NPK/WSF was 42.87 lakh tonnes in 2019-20 which was 35.87 lakh tonnes in the previous year.

IFFCO sold highest ever 133.31 lakh tonnes of fertilisers in last fiscal year, as against 115.56 lakh tonnes in 2018-19. Out of total sales, Urea stood at 86.31 lakh tonnes and DAP/NPK at 47 lakh tonnes in 2019-20. IFFCO also achieved its lowest composite energy consumption of 5.285 Gcal per MT which was 5.331 Gcal per MT in 2018-19. IFFCO, the worlds largest fertiliser cooperative, has five plants at Kalol, Kandla, Phulpur, Aonla and Paradeep in India and two overseas.

Apart from its core fertiliser business, IFFCO have also diversified into General Insurance, Rural Retail, Farm Forestry, Rural Telecom, Agrochemicals, Rural Finance, Logistics, SEZ. IFFCO have also forayed into Food Processing, Organics and small move into Nutrients for Urban Gardening also.

On this overall development of brilliant performance of IFFCO, Dr. U S Awasthi, MD, IFFCO said that I am glad that IFFCO could achieve outstanding overall performance for the FY 19-20, which is indeed incredible to accomplish in a year severely affected by global and economic challenges. He further said that I am sure that our decision to implement multi-faceted initiatives to augment Farmers’ Welfare and take them to the Last Mile across the country will contribute effectively to the Nation Building process and will certainly help to fulfil the vision of Hon’ble PM Shri Narendra Modi Ji of doubling the farmers income by 2022. I am sure that this will help us in expanding our sphere to new horizons at an accelerated pace in the coming years.

It is to be noted that, Fame India, a Business & Political Magazine, in its latest special online publication ranked Dr U S Awasthi, MD, IFFCO at 40th position in India’s Top 50 Most Influential Personalities of India.

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IS NewsDesk
Stories curated by our interns and news crew. Originally reported or general compilation from various available sources and news agencies.

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