Assam: Numaligarh Refinery Limited Net Worth Increased by 25%

Staff Reporter

GUWAHATI: NRL (Numaligarh Refinery Limited) Chairman Dr Ranjit Rath said that the net worth of NRL registered a 25 per cent increase in 2024-25 over 2023-24. He also said that the refinery achieved over 100 per cent capacity utilization with 3,066 TMT crude oil processing, besides doubling diesel supply to Bangladesh during the year.

Speaking to the media after the refinery’s 32nd annual general meeting today, Dr Rath said, “The bamboo-based 2G bioethanol plant will procure specific bamboo from areas in Assam, Meghalaya and Arunachal Pradesh falling within a radius of 300 km of the plant. NRL authorities have already distributed around 60 lakh samples of specific varieties of bamboo to the farmers free of cost. Even as no MSP (minimum support price) has been fixed for the bamboos, farmers will tentatively get Rs 65-70 for each bamboo.”

Dr Rath further said, “In 2024-25, NRL supplied 79 TMT of diesel to Bangladesh worth $54 million compared to 38 TMT in 2023-24. Diesel supply to Bangladesh almost doubled.”

Dr Rath said the commissioning of the bioethanol plant is aligned with the Government of India’s import substitution and ‘Make in India’ efforts and demonstrates the company’s pioneering role in bioenergy transition and value addition to local resources.

Dr Rath said that the foundation stone of a 360 KTPA polypropylene plant at Numaligarh that will be implemented by NRL at a project cost of over Rs. 7,000 crore, juxtaposed to the expanded refinery, will raise NRL’s Petrochemical Intensity Index by 4.0. This plant will be complete in three years and boost the downstream industries, he said.

Dr Rath highlighted the robust performance of NRL during FY 2024–25. NRL’s net worth reached the unprecedented height of Rs. 16,260 crore as of 31st March 2025 – a 25% increase over the previous year. Revenue from operations grew to Rs. 25,147 crore from Rs. 23,731 crore, reflecting healthy growth of 6% despite margin pressures.

Profit before and after tax (PBT and PAT) during the year was Rs. 2,215 crore and Rs. 1,608 crore, respectively, compared to the corresponding numbers of Rs. 2,912 crore and Rs. 2,160 crore a year ago. The moderation in profitability was primarily due to the narrowing spread between product and crude oil prices in the global market that led to a reduction in the Gross Refining Margin (GRM) from $13.17 per barrel to $5.14 per barrel. The company recorded the highest-ever capital expenditure during the year at Rs. 9,038 crore.

Dr Rath said that in 2024-25, NRL’s refinery achieved over 100% capacity utilisation with 3,066 TMT crude oil processing – the second time in the last three years. This was possible with the highest-ever domestic crude oil receipt at 3,033 TMT from OIL and ONGC, apart from 22 TMT of imported crude. NRL’s distillate yield at 86.7% was the highest amongst the PSU refineries in the country.

Corresponding to high refinery throughput, diesel production during the year was 2,044 TMT. MS and wax production touched their historical highs at 725 TMT and 50 TMT, respectively. The LPG bottling plant adjacent to the refinery operated beyond its rated capacity, leading to the production of 64 TMT packed LPG.

On the Corporate Social Responsibility (CSR) front, the Chairman of NRL underlined NRL’s strong social commitment, with over Rs. 80 crore spent during the year on various schemes for social welfare and community development.”

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