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NFL declares dividend of Rs. 25.51 cr. for 2003-04

New Delhi, September 30, 2004 :

National Fertilizers Limited (NFL) – one of the largest producers of nitrogenous fertilizers in the country with a market share of 16.9% in Urea production, has declared dividend of Rs. 25.51 crores for the financial year 2003-2004 at its 30th Annual General Meeting held on 29th September, 2004. The Government of India holds 97.64% shares and major portion of this dividend will go to the Government.

All NFL Units recorded 100% capacity utilization during 2003-04 with aggregate Urea production of 32.50 lakh tonnes – the everbest production for any year so far. NFL has consistently been a profit making Company. The Company, for the year 2003-04, declared a net profit (before tax) of Rs. 121.96 crores after recording a sales turnover of Rs.3387.62 crores by marketing 34.58 lakh MT of fertilizers, the highest tonnage sold for any year so far. The above includes sales turnover of Rs. 105.08 crores on account of Industrial Products produced & sold during the year.

While highlighting achievements of the Company, Shri P.S. Grewal, Chairman & Managing Director of NFL informed that during first Six months of current fiscal, the overall capacity utilization for Urea production of NFL is 107%. The Company has Five Urea Plants located in the States of Punjab, Haryana & Madhya Pradesh with a total installed capacity of 32.31 lakh MT of Urea. The Nangal Unit located in Punjab also produces Calcium Ammonium Nitrate (CAN), which is the oldest plant of NFL. The Company also produces & markets several Industrial Products, for which, the demand on year-to-year basis is on an increase.

Shri P.S. Grewal informed that the Hon’ble Prime Minister of India, on 4th September 2004, awarded National Fertilizers Limited the “MERIT CERTIFICATE for Excellence in the Achievement of MoU Target” for the year 2002-03. The Company also expects “Excellent” rating from the Government for the year 2003-04.

NFL has undertaken several productivity measures towards cost reduction and energy improvements to effectively handle the situation emerging ahead.

C&MD also highlighted the thrust given by the Company on the production and marketing of Neem-Coated Urea. The Company has decided to produce Neem-Coated Urea at all its Plants to match its growing demand in the market. Presently, Neem-Coated Urea is being produced at Panipat & Bathinda Plants of NFL.

NFL is the First Company in Fertilizer Industry in the country to have its total business covered under ISO-9001: 2000 Certification.

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