STATESMAN NEWS SERVICE
Bhubaneswar, 21 July
The year 2012-13 has been the most difficult year for Paradip Phospates Limited resulting in profits dipping from Rs 177.71 crore of the previous year to Rs 103.59 crore said its chief operating officer D S Ravindra Raju.
Addressing a press conference here yesterday, top officials of PPL including Mr S S Nandurdikar , MD, Mr Raju, COO and others highlighted various aspects of the fertiliser industry and the performance of PPL in particular. While Mr Nandurdikar dealt with the broad fertiliser industry scenario, Mr Raju focused on PPL.
Exchange rate fluctuations, high input cots, reduction of government subsidy resulting in increased borrowing from banks , all put together had an adverse impact on the finances of PPL. We hope the worst is behind us and with reports of a good monsoon across the country this khariff will be make 2013-14 a better year for us, observed the COO.
Giving details of PPL&’s performance, Raju said the turnover of the company was Rs 5272 crore during 2012-13 and the profit before tax was Rs 131.74 crore which after tax turned out to be Rs 103.59 crore. Delay in subsidy payment by the government forced the company to borrow from banks without passing on the burden to the farmer, he said.
In spite of problems and the adverse market situation, PPL produced 9.42 lakh mt of fertilizers , he informed.
To cut the import costs, the PPL has decided to commission a 2000 mt per day sulphuric acid plant investing Rs 600 crore, he informed. The new plant will be commissioned by July 2014, he said.
PPL continues to work with the community and the farmers as part of its corporate social responsibility programme, he said while talking about the 11 villages adopted by the plant, training programme for farmers etc. The company had spent one crore on CSR initiatives during 2012-13, he said.
Mr Raju said the company had facilitated building of 850 individual household latrines, 200 water connection points , 12 school tilets, trained students in computer education etc.
The Navratna Krishi Vikas Porject started in 2005 has so far covered 347 villages across Odisha, Chhattisgarh, Jharkhand, Bihar and UP to improve knowledge in scientific agricultural practices and other income generating occupations, he said. For healthy soil conditions a soil testing laboratory has been established in Bhubaneswar and farm advisory services are rendered to inform about crop specific fertilizer etc. Besides six mobile soil testing vans have been introduced to operate in Puri, Jajpur, Bhadrak, Gajapati, Nawarangpur and Sambalpur districts, he said.