IFFCO profit rises 16pc to 2823cr, revenue up 4.5pc to Rs 41244cr on higher sales of fertilisers

New Delhi, May 29 (PTI) Fertilizer major IFFCO on Thursday reported a 16 per cent increase in net profit to Rs 2,823 crore and a 4.5 per cent growth in turnover to Rs 41,244 crore during the last fiscal on higher sales of conventional soil nutrients as well as nano liquid urea and nano liquid DAP.

It had posted a net profit of Rs 2,443 crore and turnover of Rs 39,474 crore in the 2023-24 fiscal.

Cooperative IFFCO Managing Director U S Awasthi highlighted that sales of nano fertilisers rose 46 per cent last fiscal to 364.41 lakh bottles (of 500 ml each) but rued that "growth in sale volumes is not as per the expectation".

Asserting that the nano fertilisers are effective if application is done in prescribed manner, he said the cooperative is focusing on creating awareness about the benefits of the new products. It is investing a lot on purchasing drones for spraying nano liquid.

He said the cooperative has got a good response for nano-fertilisers in overseas markets, including Brazil and the United States.

"We have invested so far around Rs 2500 crore on nano-fertilisers, which includes Rs 1700 crore on setting up plants," Awasthi said, while committing more investments to bring new nano products in the market and also creating awareness among farmers.

He noted that crop productivity increases with the usage of nano fertilisers and rejected any concerns related to efficacy of this product.

The IFFCO MD said the cooperative does not mind losing money, if it is for the right cause which is to protect soil health.

Awasthi said the IFFCO has already launched nano-liquid zinc and nano-liquid copper in 100 ml bottles, costing Rs 200 each.

It also plans to launch nano NPK fertilisers in granular form for soil application in basal dose.

Elaborating on financial and operational performances, IFFCO chairman Dileep Sanghani said, the co-operative has "registered a profit (before tax) of more than Rs 3,000 crore for three consecutive financial years".

The cooperative has rewarded its members with 20 per cent dividend in the paid up shares capital, he added.

Total fertilizer production rose to 93.10 lakh tonnes in 2024-25 from 88.95 lakh tonnes in the preceding year, while sale increased slightly to 113.78 lakh tonnes as against 111.73 lakh tonnes.

Nano fertilizer sales were at 364.41 lakh bottles (of 500 ml each) in 2024-25, higher than 249.45 lakh bottles in the previous year.

Urea and Di Ammonium Phosphate (DAP) sales remained flat at 67.32 lakh tonnes and 25.62 lakh tonnes, respectively, during 2024-25.

IFFCO, which has more than 35,600 cooperative societies as its members, is one of the leading fertilizer manufacturers in the country and has 10 plants in India and abroad. PTI LUX MJH MJH MR