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NRL posts highest-ever turnover of Rs 15,923 crore in FY'18

NRL posts highest-ever turnover of Rs  15,923 crore in FY18

Guwahati: Public sector Numaligarh Refinery Limited (NRL) on Friday said it has recorded the highest-ever turnover of Rs 15,923 crore, a growth of 14 per cent, despite lower profits of Rs 2,042 crore during 2017-18.

At the 25th Annual General Meeting here, Chairman D Rajkumar said the company recorded the highest-ever revenue from operations at Rs 15,923 crore during 2017-18, registering a growth of 14.17 per cent over the previous year.

Rajkumar is also the Managing Director of Bharat Petroleum Corporation Limited (BPCL).

The Gross Refining Margin (GRM) at US Dollar 11.43 per barrel continued to be one of the best in the industry, Rajkumar said.

Earnings per share (EPS) for the year stood at Rs 27.79. The company has declared a dividend of Rs 18.50 per share for 2017-18.

The company's profit after tax for the year was however, marginally lower at Rs 2,042 crore as compared to the prenious year, Rajkumar said.

NRL's contribution to the Central and State exchequers in the form of taxes, duties and dividends during the year has been the highest-ever at Rs 4,672 crore, he said.

The refinery processed 2,809 TMT of crude oil during 2017-18 achieving a capacity utilisation of 93 per cent, he said.

NRL recorded highest-ever sales volume of 2,912 TMT during the year, surpassing the previous high of 2,728 TMT in 2011-12.

He said NRL's share of the domestic wax market climbed up to 45 per cent.

On exports, Gas oil (Diesel) amounting to 25 TMT was sent to Bangladesh Petroleum Corporation at Parbatipur from the company's terminal at Siliguri in West Bengal.

"Accelerated by the continued efforts and commitment of its employees and unwavering support of all stakeholders, I assure you that NRL will continue to perform par excellence and deliver results beyond expectation," Rajkumar said.

He said the company is planning refinery expansion from 3 MMTPA to 9 MMTPA as part of the ambitious 'Hydrocarbon Vision 2030 for the North East' which is under active consideration by the Centre.

Plans for implementing the first-of-its-kind Bio Refinery with bamboo as feedstock have also taken a definite shape. A Joint Venture (JV) company -- Assam Bio-Refinery Pvt. Ltd. -- has been incorporated in June 2018 with equity participation from NRL, Fortum 3BV, Netherlands and Chempolis Oy, Finland, he said.

Another JV company -- Indradhanush Gas Grid Limited -- was incorporated this month with equal participation of NRL, IOCL, ONGC, OIL, and GAIL for implementation of the North-East Natural Gas Grid Pipeline, he said.

The ambitious project will connect all Northeastern states to the National Gas Grid through Barauni-Guwahati Gas Pipeline being laid by GAIL, he saud.

Agencies

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