Numaligarh Refinery Limited on Friday posted the highest ever turnover at Rs. 15,923 Crore for the financial year 2017-18.
The shareholders of the company could not have had it better with a dividend of Rs. 18.50 per share for the same period.
This was informed by Madhuchanda Adhikari Choudhury, Deputy General Manager, Corporate Communications, NRL through a press communique.
NRL also boasts of the highest ever contribution to the exchequer at Rs. 4,672 Crore.
The 25th Annual General Meeting of Numaligarh Refinery Limited was held at NRL corporate office in Guwahati on Friday.
The meeting was presided over by D.Rajkumar, Chairman and Managing Director, Bharat Petroleum Corporation Limited (BPCL) and Chairman, NRL and was attended by SK Barua, Managing Director NRL, other members of the NRL Board and shareholders of the Company.
NRL has completed 18 years of successful commercial operations with sustained profitability. Strong operating performance from the Company’s refining business has led to continued profits during 2017-18.
During the year 2017-18, the Company recorded the highest ever revenue from operations of Rs. 15,923 crore, registering a growth of 14.17 per cent over previous year.
Profit after tax for the FY was marginally lower at Rs.2,042 Crore as compared to last year. The Gross Refining Margin (GRM) at $11.43 per barrel continued to be one of the best in the industry. Earnings per share (EPS) for the year stood at Rs. 27.79 while net worth of the Company at the close of the financial year 2017-18 reached Rs. 4,968 crore.
NRL’s contribution to the Central and State exchequers in the form of taxes, duties and dividends during the year 2017-18 has been the highest ever at Rs. 4,672 Crore.
On the physical front, the Refinery processed 2,809 TMT of Crude Oil during 2017-18 achieving a capacity utilization of 93%. Distillate Yield recorded by the Refinery at 86.7%, Specific Energy Consumption (SEC) at 64.87 MBN and Energy Intensity Index (EII) at 88.3 MBN continued to be amongst the best in the industry.
Marketing Performance
NRL recorded highest ever sales volume of 2,912 TMT during the year surpassing the previous high of 2,728 TMT in 2011-12. Motor Spirit sales reached an all-time high of 638 TMT. Sale of High Speed Diesel was recorded at 1,841 TMT while Wax sales reached a level of 46 TMT, including export of 7.0 TMT to 24 different countries.
Meanwhile, NRL’s share of the domestic wax market scaled up to 45 per cent.
On the export front, Gas oil (diesel) amounting to 25 TMT was exported to Bangladesh Petroleum Corporation at Parbatipur from the company’s terminal at Siliguri.
Commenting on the results recorded during the financial year 2017-18, Chairman NRL D Rajkumar said, “Accelerated by the continued efforts and commitment of its employees and unwavering support of all stakeholders, I assure you that NRL will continue to perform par excellence and deliver results beyond expectation.”
In recognition of its exemplary performance in different spheres of activities, NRL was conferred several awards during the year; important among them being the National Technology Award 2017 for commercialization of Wax De-oiling Technology; Suraksha Puraskar in Manufacturing Sector by National Safety Council; SCOPE Corporate Communications Excellence Awards 2017; PRSI National Awards 2017 and Chal Vaijayanti Shield for effective implementation of Official Language Policy of government of India.
The FY 2017-18 saw the commissioning of Diesel Hydro Treater Unit (DHDT) in January 2018, which is now producing BS-IV grade HSD( Diesel) at 100 per cent capacity utilization and will also meet future BS-VI HSD compliance. In addition, modernization and capacity augmentation of the LPG bottling plant from 10 to 42 TMTPA was completed during February 2018.
The Company’s plans for Refinery expansion from 3 MMTPA to 9 MMTPA, a part of the ambitious ‘Hydrocarbon Vision 2030 for the North East’ is under active consideration by the Centre.. Plans for implementing the first of its kind Bio Refinery with bamboo as feedstock have taken a definite shape with a Joint Venture (JV) Company ‘Assam Bio-Refinery Pvt. Ltd.’ incorporated during June 2018 with equity participation from NRL, M/s Fortum 3BV, Netherland and M/s Chempolis Oy, Finland.
In another important development which will have positive ramifications across the region, a Joint Venture Company named M/s Indradhanush Gas Grid Limited was incorporated in the month of August 2018 with equal participation of NRL IOCL, ONGC, OIL, and GAIL for implementation of the North-East Natural Gas Grid Pipeline. This ambitious project will connect all North East States to the National Gas Grid through Barauni-Guwahati Gas Pipeline being laid by GAIL.