Numaligarh Refinery Limited declares 32.9 percent profit after tax in 2023-24

GUWAHATI: The Numaligarh Refinery Limited (NRL) declared the final dividend of Rs 258.42 crore for the financial year 2023-24 today. The company had already paid an interim dividend of Rs. 452.24 crore for FY 2023-24, and thus the total dividend pay-out for FY 2023-24 is Rs. 710.66 crore, representing 32.90 percent of profit after tax (PAT) for the year.

Addressing the shareholders of the company after its AGM held here on Friday, NRL chairman Dr. Ranjit Rath said, “During the financial year 2023-24, the refinery processed 2,510 TMT of crude oil, equivalent to 100 percent capacity utilisation for 10 months, a considerable feat taking into account that the refinery was recuperating from a valuable quarter lost during the beginning of the financial year 2023-24. The refinery continued to show impressive performance with respect to Specific Energy Consumption (SEC) and Energy Intensity Index (EII), pointers that determine energy efficient operations.”

Dr. Rath said that NRL recorded a profit before tax (PBT) of Rs. 2,912 crore, while the net profit recorded was Rs. 2,160 crore for the financial 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 company’s net worth soared a notch higher to Rs. 13,926 crore. The company continued to contribute significantly to the central and state exchequer in the form of taxes, duties, and dividends, with a contribution of Rs. 3,819 crore extended during FY 2023-24.”

He said that NRL’s LPG bottling plant recorded the highest-ever capacity utilisation of 68 TMT during the year against an installed capacity of 42 TMT. NRL remains the market leader in the country with regard to wax production and sales, he said.

On capital investments and projects, he said that during the year, NRL recorded the highest-ever standalone capital expenditure of Rs. 8,502 crore, marking an increase of 24 percent over last year.

NRL has made significant progress in the ongoing mega Numaligarh Refinery Expansion Project with a train comprising the 6 MMTPA refinery, the 1,635 km Paradip Numaligarh crude oil pipeline, and the crude oil import terminal at Paradip, which is expected to be completed by December 2025, he said.

During the year, NRL has been able to bring to the cusp the commissioning of the 2G bio-refinery that would have a carbon-negative impact on the environment. Environmental clearance for the 360 KTPA Poly-Propylene Plant (Petchem Project) has recently been received, he said.

He said that the company improved rural health infrastructure by renovating and providing medical equipment to 40 hospitals and eight public health centres in Golaghat. NRL also collaborated with the Assam government to set up a high-performance sports training and rehabilitation centre at Jorhat. It spent Rs 94.18 crore on CSR activities.

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