MFL posts highest ever net profit under the chairmanship of Kishor Rungta (UPDATED)

Kishor Rungta, Chairman-cum-Manginag Director, Madras Fertilizres Limited (MFL) informed that the company has posted the highest ever net profit since inception of the Company that the net profit for the year 2022-23 is Rs 185.33 Cr. By this, the Company has reached another milestone that it has achieved profit for 3 consecutive years, which makes me really proud and happy. The revenue from operations of the Company has also been increased by around 50% (Rs 3447 Cr for the financial year 2022-23 as against Rs 2302.16 Cr). The MFL continues to meet the fertilizer demand of the farmers by effective production plan and strategies. “I am happy to share some of the highlights of the performance of the Company during the fiscal 2022-23” says Rungta.

Plant Highlights:

 The Company has produced 519800 MT of Neem Coated Urea which is the best annual production (previous best 503900 MT in the FY 2021-22), with the Capacity Utilisation of 106.8%. Annual Specific Energy Consumption of 7.584 GCal/MT of Urea.     Quarterly Production of 146169 MT of Urea during Jan-Mar 2023 is the Second highest production since inception (Previous Best 146662 MT during Oct-Dec 2021). Monthly production of 51000 MT achieved during March 2023 is the Best monthly production (Best 50662 MT in Dec 2021). At the close of Mar 31, 2023, 3276 days were completed without any lost time accident covering 11.01 million man-hours.

Sales Highlights:

The Company has achieved an All Time Record sale of 5,29,879 MTs of Vijay Neem Coated Urea since revamping of Urea Plants which is 5% increase over previous year sale of 5,04,559 MTs. The Company has sold 5,37,383 MTs of both NPK 20-20-0 and NC Urea during the year against the previous year sale of 5,30,812 MTs. The Company has achieved record movement of 5,37,117MT which is the best in the last 10 years. Sold 157.42 KL of Vijay Neem which is the highest in the past 10 years and it is 38 % increase over previous year sale of 113.63 KL. Under “Basket Approach” MFL sold 7836 MTs of Vijay Organic which is the highest in the past 7 years and 15% increase over previous year sale of 6832 MTs. In addition to Organic Manure, Under “Swachh Bharat Mission”, Marketing of City Compost, a product from Municipality/Factory waste, has been undertaken and 9608 MTs was sold which is 50% increase over previous year sale of 6403 MTs.  With respect to Market Development and Agro Service Programs, MFL’s Marketing personnel have contacted 20822 farmers during the year and continuously imparted knowledge to farmers on use of eco-friendly products for soil health, soil fertility, Soil vitality and balanced fertilization (Integrated Nutrient Management). Method demonstrations and farmer seminars were organized in coordination with State/Central Agricultural extension departments. In pursuance to the Prime Minister’s Mission on empowering the Farmers vide Supportive Schemes & Education on farming techniques, MFL continues its service to the farmers through “Kisan Suvidha Kendra” at Gangavathy and Shimoga in Karnataka State. Farmer services like soil sample analysis and recommendation of fertilizer dosage based on soil test report, educating the farmers on weather, crop Insurance and other improved farm technologies were offered.


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