Krishak Bharati Cooperative Limited (KRIBHCO), one of India’s premier fertilizer-producing farmers’ cooperatives, reported a pre-tax profit of Rs. 334.12 crore for the financial year 2023-24. The Society declared a dividend of 20% on its equity capital for the year.
The annual accounts of the Society were approved during its 44th Annual General Body Meeting, held on 12th September 2024, at the NCUI Auditorium in New Delhi. The meeting was presided over by Dr. Chandra Pal Singh, Chairman of KRIBHCO in presence of Board of Directors and attended by delegates from various member cooperatives across the country.
KRIBHCO achieved remarkable production figures in FY 2023-24, with Urea production at 23.35 lakh MT and Ammonia production at 13.88 lakh MT, achieving 106.4% and 111.32% capacity utilization, respectively. Expanding its product offerings to cater to the diverse needs of farmers, KRIBHCO’s portfolio includes not only Neem Coated Urea but also imported DAP, MAP, MOP, Complex, Bio Fertilizers, Compost, Certified Seeds, Hybrid Seeds, SSP, Zinc Sulphate, Natural Potash, and Sea Weed Fortified Bio-stimulants. During the year, KRIBHCO sold 52.82 lakh MT of fertilizers (including Urea and Complex Fertilizers).
KRIBHCO Fertilizers Ltd (KFL), a wholly-owned subsidiary of KRIBHCO, also delivered strong performance with the production of 10.66 lakh MT of Urea and 6.54 lakh MT of Ammonia, achieving capacity utilization of 123.23% and 130.46%, respectively. KFL declared a dividend of Rs. 14.40 crore for the year.
M.R. Sharma, Managing Director of KRIBHCO, informed the gathering about the sustained high standards of production and operational efficiency maintained by KRIBHCO and its subsidiaries.
KRIBHCO has also ventured into new areas to enhance farmers’ incomes. Its wholly-owned subsidiaries, KRIBHCO Agri Business Limited (KABL) and KRIBHCO Green Energy Private Limited, are contributing significantly. KABL achieved a turnover of Rs. 821 crore in FY 2023-24, with sales of rice, chilies, maize, makhana, and lentils in both domestic and international markets. Meanwhile, KRIBHCO Green Energy Pvt. Ltd. is constructing two plants in Hazira, Gujarat, and Nellore, Andhra Pradesh, expected to be operational in FY 2024-25.
As part of its commitment to rural development, KRIBHCO’s social arm, Gramin Vikas Trust (GVT), is celebrating its 25th anniversary in 2024. GVT has positively impacted 1.5 million lives across 25 states through initiatives focused on rural development, healthcare, education, and gender equality.
Aligned with the Government of India’s vision of “Sahakar Se Samriddhi,” KRIBHCO is playing a pivotal role in promoting seed and export activities among cooperatives as lead promoter of Bharatiya Beej Sahakari Samiti Limited (BBSSL) and a joint promoter of National Cooperative Export Limited (NCEL) under the guidance of the Ministry of Cooperation.
In recognition of its outstanding performance, KRIBHCO received several awards from FAI and other prestigious organizations.
During the AGM, KRIBHCO also honored two eminent cooperators for their remarkable contributions to the cooperative movement in India. Sh. Satyendra Narayan Singh from Bihar was conferred the KRIBHCO “Sahakarita Shiromani award”, and Sh. V.K.S.K Senthil Kumar from Tamil Nadu received the KRIBHCO Sahakarita Vibhushan award.
As a national cooperative, KRIBHCO remains dedicated to increasing farmers’ incomes through the promotion of judicious fertilizer use, free soil testing, and the adoption of integrated agricultural practices.
