Numaligarh Refinery Limited declares highest-ever profits in fiscal 2020-21

GUWAHATI: Numaligarh Refinery Limited (NRL) has achieved the highest-ever sales turnover of Rs 23,546 crore which was higher by 26.95% as against Rs 18,548 Crore in the previous year, primarily on account of an increase in product prices. Highest-ever Profit before Tax (PBT) was also achieved by the Company at Rs 4,848 crore, which is higher by 18.37%, as compared to Rs 4,083 crore in the previous financial year mainly due to an increase in overall gross margin and higher inventory gains. Accordingly, the company posted record profits for the year with Profit After Tax (PAT) of Rs 3,562 crore as compared to Rs 3,036 crore in the previous year, registering an increase of Rs 525 crore.

The Compound Annual Growth Rate (CAGR) for PAT stood at 27.41% since the commencement of commercial production. The earnings per share (EPS) for FY 2021-22 stood at Rs 48.42 as compared to Rs 41.27 in FY 2020-21.

The company has declared a dividend of 150% during 2021-22 which it has already disbursed as an Interim Dividend during the year.

The Financial Year 2021-22 ended on a positive note, despite challenges and uncertainties that the company was able to successfully surmount; leveraging on resilience, adaptability and robust systems and procedures.

The 29th Annual General Meeting of Numaligarh Refinery Limited (NRL) was held on Monday at NRL Corporate Office, Guwahati. The meeting was presided over by Chairman NRL and CMD OIL, Dr R Rath and was attended by MD NRL, Mr BJ Phukan and other members of the NRL Board and shareholders of the Company.

Addressing the shareholders of the Company, Rath said, "NRL is determined in its pursuit of executing the major ongoing projects in hand; namely, the Numaligarh Refinery Expansion Project (NREP), Paradip Numaligarh Crude Oil Pipeline (PNCPL) & Crude Oil Import terminal at Paradip (COIT), 2G Ethanol Project and India-Bangladesh Friendship Pipeline (IBFPL). In the next 5 years, the company has planned to invest more than Rs 35,000 crore in completing these projects which will enable long-term business growth, both in terms of revenue and profit. Hence, completing these projects without any time and cost overrun remains the core focus area of the company."

During the FY 2021-22, Numaligarh Refinery achieved a throughput of 2,624 TMT that included 23 TMT of imported Crude oil. The refinery also commenced 10% blending of Ethanol in Motor Spirit (Petrol) at its Siliguri and Numaligarh Marketing terminals with 1,122 KL of Ethanol blending in the first year, which is gaining further momentum in the current financial year.

Sales during the year comprised 56 TMT of Gas Oil exported to Bangladesh and 125 TMT of Naphtha to Brahmaputra Cracker and Polymer Limited (BCPL) from external sources.

The Company will invest more than Rs 35,000 crore in completing various projects which will enable long-term business growth, both in terms of revenue and profit. Completing these projects without any time and cost overrun remains the core focus area of the Company.

NRL recorded the highest ever Standalone Capital expenditure at Rs 3,605 crore, 3 times higher than its previous best of Rs 1,029 crore in the FY 2020-21.

Health and Sanitation have been the focus area in CSR during the FY 2021-22 with the company joining hands with collectives to ramp up COVID infrastructure including setting up a 120-bedded makeshift Covid Hospital in Jorhat Medical College & Hospital (JMCH) and a 5 bedded ICU ward at the Civil Hospital in Majuli. Another highlight of the year has been the company associating itself with Assam Cancer Care Foundation (ACCF) for a greater cause of setting up a Radiation Block in Barpeta Medical College Hospital.

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