The 28th Annual General Meeting of NRL was held on Saturday, the 18th of September, 2021 at NRL Corporate Office. The meeting was presided over by Chairman NRL and CMD Oil India Limited ( OIL), S C Mishra and was attended by MD NRL, S K Barua.
The Company has declared the highest ever Dividend of 375% during the Financial Year 2020-21 ( Rs. 37.5 per fully paid equity share of Rs.10 each) which has already been disbursed as Interim Dividend during the year.
The Financial Year 2020-21 ended on a positive note despite innumerable adversities, leveraging on internal strength, adaptability and robust inbuilt systems and procedures.
The highlight of the Financial Year 2020-21 was the change in ownership of the company with OIL taking over as holding company with majority equity shareholding through a Share Purchase Agreement signed on 25th March 2021. Commenting on this historic development, Chairman NRL and CMD OIL S C Mishra said, ‘I am sure that NRL OIL partnership will be able to achieve tremendous synergy and contribute immensely towards ensuring energy security of the nation and achieve the targets set by the Ministry of Petroleum and Natural Gas. Presence of EIL as a stakeholder will further boost the technical expertise of the Company.’
During the FY 2020-21, the refinery processed 2,707 TMT of Crude Oil, a 14% increase over the previous year. The company also imported 42 TMT Crude Oil which was processed in the refinery. There was increase in production of HSD by more than 12% at 1,809 TMT and MS by 36% at 636 TMT over the previous year. The refinery also recorded highest ever Wax production of 47 TMT, 17% increase over previous year and highest ever LPG bottling at 57 TMT, an increase of 33% over previous year.
Sales volume during the FY 2020-21 was 2,924 TMT an increase of 23.9% compared to 2,361 TMT in the previous year. HSD Sales increased to 1,835 TMT against 1,541 TMT in the previous year, while MS Sales during the year was the highest ever at 647 TMT against 458 TMT in the previous year. Wax Sales was also the highest at 48 TMT.
The Company posted revenue from operations at Rs. 18,544 Crore which was higher by 31.77% over Rs.14,073 Crore in the previous year, primarily on account of higher sales volume.
Higher Crude throughput and increase in overall margins resulted in NRL posting record net profit of Rs. 3,036 Crore, an increase of 120% over previous year. Net worth of the Company has increased to Rs. 5,596 Crore as on 31st March, 2021 as compared to Rs. 5,304 Crore in the previous year. The outstanding financial performance has also led to the highest ever contribution to the Government exchequer at Rs. 6,468 Crore.
The Company continues to assiduously and aggressively pursue major ongoing projects in hand namely, the Numaligarh Refinery Expansion Project, 2G Ethanol Project and India-Bangladesh Friendship Pipeline (IBFPL).
The Numaligarh Refinery Expansion Project (NREP) envisages enhancing capacity of the existing refinery from 3.0 MMTPA to 9.0 MMTPA, constructing a Crude Oil Import Terminal at Paradip port in Odisha and laying of a 1,635 KM long cross country Crude Oil Pipeline from Paradip Port to Numaligarh at a total estimated cost of Rs.28,000 Crore.
With this and several other ongoing projects undertaken during the Financial Year 2020-21, NRL recorded the highest ever capital investment Rs. 924 Crore.