NRL has this month got environment clearance for a 360 KTPA polypropylene plant, chairman Ranjit Rath said during the refiner’s 31st annual general meeting here on Friday.
Rath said the petchem plant will take three years for commissioning. “We are in process of appointing consultant,” the chairman said while describing NRL’s future plans. NRL has land within its premises for the petchem plant. NRL will also have the first drops of biofuel by September, the chairman said in the press conference. NRL is also doing a capacity expansion from 3 million tonne per annum to 9m tonnes per annum. NRL Annual general meeting held in NRL corporate office, Guwahati. The meeting was presided over by chairman NRL & CMD Oil, Dr. R Rath and was attended by MD NRL, Mr. Bhaskar Jyoti Phukan.
A final dividend of Rs 258.42 Cr for the financial year 2023-2024 has been declared during the Annual General Meeting. The company has paid an interim dividend of Rs 452.24 Cr for the finacial year 2023-2024. Total divedend pay-out for the financial year 2023-24 is RS 710.66 Cr, representing 32.90% of NRL's Profit after Tax (PAT) for the year. During the financial year 2023-24, the refinery processd 2,510 TMT of Crude oil, which is equivalent to 100% capacity utilization for 10 months, a considerable feat taking into account that tghe refinery was recuperating from a valuable quarter lost during the begining of the financial year 2023-24. This manifestation of improved reliability of plant units. NRL recorded profit before Tax (PBT) of Rs 2,912 Crore, while the net profit was Rs 2,160 Crore for the Finacial Year 2023-24. Revenue from operations recorded during the year was Rs 23,731 Crore while gross refining Margin was $13.17 per BBL. The earning per Share (EPS) for the year 2023-24 was Rs 13.95. During the year, the cthe company's net worth soared a notch higher to Rs 13,926 Crore. During the NRL, recorded the highest ever standalone capital expediture of Rs 8,502 Crore, making an increse of 24% over last year. It's an indicator of the fast paced progress made in executing projects on the anvil, big and small ensuring long term growth sustainability.
NRL has progressed in significant ongoing mega projects. Expension project with a train comprising of the 6 MMTPA Rifinery its 1635 KM Paradip Numaligarh Crude oil pipeline and crude oil Imnport terminal at paradip, which is expected to be completed by December 2025.
