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NRL declares highest-ever dividend paid during the Financial Year 2020-21

NRL (Numaligarh Refinery Ltd) has declared the highest-ever dividend of 375% during the Financial Year 2020-21 ( Rs 37.5 per fully paid equity share of Rs 10 each) which it has already disbursed as an interim dividend during the year.

NRL

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  19 Sep 2021 1:59 AM GMT

GUWAHATI: NRL (Numaligarh Refinery Ltd) has declared the highest-ever dividend of 375% during the Financial Year 2020-21 ( Rs 37.5 per fully paid equity share of Rs 10 each) which it has already disbursed as an interim dividend during the year.

The 28th Annual General Meeting of NRL held on Saturday made this announcement. NRL Chairman-cum-OIL CMD SC Mishra chaired the annual general meeting. NRL MD SK Barua and other members of the NRL Board and shareholders attended the meeting.

The Financial Year 2020-21 ended on a positive note despite innumerable adversities, leveraging on internal strength, adaptability and robust inbuilt systems and procedures.

The highlight of the Financial Year 2020-21 was the change in ownership of the company with OIL taking over as a holding company with majority equity shareholding through a Share Purchase Agreement signed on 25th March 2021. Commenting on this historic development, Chairman NRL and CMD OIL SC Mishra said, "I am sure that NRL-OIL partnership will be able to achieve tremendous synergy and contribute immensely towards ensuring energy security of the nation and achieve the targets set by the Ministry of Petroleum and Natural Gas. The presence of EIL as a stakeholder will further boost the technical expertise of the Company."

The company posted revenue from operations at Rs 18,544 crore which was higher by 31.77% over Rs 14,073 crore in the previous year, primarily on account of higher sales volume.

Higher crude throughput and increase in overall margins resulted in NRL posting a record net profit of Rs 3,036 crore, an increase of 120% over the previous year. The net worth of the company has increased to Rs 5,596 crore as of 31st March 2021 as compared to Rs 5,304 crore in the previous year.

COVID care through CSR

At a time when the world is fighting the pandemic at every level, NRL joined hands with collectives to extend support in every way possible by ramping up facilities and provisions to tackle the situation.

A number of Rs 36 crore was earmarked to fight COVID-19; which included creating a 120-bedded COVID care Centre with ICU facilities, setting up Oxygen plants, setting up Covid centres, free vaccination etc., a press release said.

Also Read: NRL signs MoU with Inland Waterways Authority of India

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