KRISHAK BHARATI COOPERATIVE LIMITED (KRIBHCO)

The Government of India decided to put up a number of plants for production of urea from natural gas/associated gas as feed stock based on considerable finds of gas in the natural form as well as an associate to crude from Bombay High and South Bassien gas fields.

In pursuance of above thinking, Hazira Fertilizer Complex was envisaged and a multi-unit cooperative society under the name of Krishak Bharati Cooperative Limited (KRIBHCO) was incorporated on 17^th April, 1980. The authorised capital of the society is Rs.500 crore and paid up capital as on 31.3.1998 is Rs.463.61 crore, including Govt. of India equity of Rs.328 crore.

2. PRODUCTION PERFORMANCE

1997-98 (April-March)

KRIBHCO has produced 17.72 lakh MT of Urea (8.15 lakh MT of Nutrient `N’) during the financial year 1997-98 against the target of 16.30 lakhs MT of Urea (7.50 lakhs MT of Nutrient `N’). There was a production loss of 23.00 thousand MT of Urea on account of gas restriction/stoppage during the financial year 1997-98.

1998-99 (April-October)

KRIBHCO has produced 8.86 lakh MT of urea (4.08 lakh MT of nutrient `N’) during the financial year 1998-99 upto October 1998 against the target of 9.72 lakhs MT of Urea (4.47 lakhs MT of nutrient `N’). The production is less than the target mainly because of gas supply problem, one phase of plant was shut down due to fire in Ammonia plant, the plant was shut down due to floods in Surat in September 1998 and Urea shut down due to Reactor Weep Hole leakage.

The details of actual production during 1997-98 and target of production for 1998-99 together with details of capacity utilisation are given in Statement-II.

3. FINANCIAL PERFORMANCE

During 1997-98 KRIBHCO earned a pre-tax profit of Rs.447.96 crore and post-tax profit of Rs.299.61 crore. The Society declared dividend @ 18% for the year 1997-98 on the paid up share capital to the eligible share holders.

4.PROMOTIONAL AND EDUCATIONAL PROGRAMMES

A number of promotional and educational activities were organised by the Society for the benefit of farmers during 1997-98.

The details of projects/schemes under implementation/proposed to be implemented; production; estimates of internal and external resources; and performance indices are given in Statements-I, Statement-III & Statement-IV respectively.