Milestone: Numaligarh Refinery Limited records highest ever revenue of Rs.15,923cr

NUMALIGARH Refinery Limited (NRL) during the year 2017-18, recorded the highest ever Revenue from Operations of Rs. 15,923 Crore, registering a growth of 14.17 percent over previous year. Profit after tax for the FY was marginally lower at Rs.2,042 Crore as compared to last year, the PSU said in a press release.
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.
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 S K Barua, Managing Director NRL, other members of the NRL Board and shareholders of the Company. The Company declared a total dividend of Rs. 18.50 per share for the year 2017-18. 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.
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.
NRL’s CSR activities include setting up of the all women VKNRL School of Nursing near the Refinery to impart nursing training to the girlswas a major skill development project completed during the year. Adoption of Model Villages with focus on roads, infrastructure, education, electricity and community health was another big achievement with direct intervention. NRL has also played a major role in Govt of India’s Swachh Bharat Mission. In another important development, Indradhanush Gas Grid was incorporated in the month of August with equal participation of NRL, IOC, ONGC, OIL, and GAIL for implementation of the Northeast Natural Gas Grid Pipeline.
This project will connect all Northeastern states to the national gas grid through Barauni-Guwahati Gas pipeline being laid by GAIL.
“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,” Rajkumar said.
He said the PSU is planning refinery expansion from 3 MMTPA to 9 MMTPA as part of the ambitious ‘Hydrocarbon Vision 2030 for the North East’ which is under active consideration by the Centre. Plans for implementing the first-of-its-kind Bio Refinery with bamboo as feedstock have also taken a definite shape. A Joint Venture (JV) company -- Assam Bio-Refinery Pvt. Ltd. -- has been incorporated in June 2018 with equity participation from NRL, Fortum 3BV, Netherlands and Chempolis Oy, Finland, he said. Another JV company -- Indradhanush Gas Grid Limited -- was incorporated this month with equal participation of NRL, IOCL, ONGC, OIL, and GAIL for implementation of the North-East Natural Gas Grid Pipeline, he said.