National Seeds Corporation Declares Record Dividend
National Seeds Corporation Limited (NSC), a prominent Public Sector Undertaking under the Ministry of Agriculture and Farmers’ Welfare, has made headlines with its recent announcement of a final dividend of ₹35.30 crores for the financial year 2023-24. This dividend, which represents 5% of its net worth, is the highest ever declared by the corporation. It reflects NSC’s unwavering commitment to supporting national agricultural development while maintaining financial sustainability. The dividend declaration aligns with the guidelines set by the Department of Investment and Public Asset Management (DIPAM), highlighting the corporation’s adherence to government regulations and its role in the agricultural sector.
Celebrating Financial Success
The dividend cheque was presented to the Minister of Agriculture and Farmers’ Welfare, Shri Shivraj Singh Chouhan, by Dr. Maninder Kaur Dwivedi, the Chairperson and Managing Director of NSC. The ceremony took place at Krishi Bhawan in New Delhi and was attended by key officials, including Shri Devesh Chaturvedi, Secretary, and Shri Ajeet Kumar Sahu, Joint Secretary (Seeds) in the Department of Agriculture and Farmers Welfare. This event marks a significant milestone for NSC, showcasing its financial achievements and dedication to enhancing agricultural productivity in India.
In the financial year 2023-24, NSC reported remarkable growth in its performance metrics. The revenue from operations surged to ₹1,143.26 crores, up from ₹1,078.23 crores the previous year. Total income also reached an all-time high of ₹1,182.48 crores, compared to ₹1,112.13 crores in 2022-23. The corporation’s profitability saw a substantial boost, with Profit Before Tax (PBT) increasing by 64.74% to ₹86.81 crores and Profit After Tax (PAT) rising by 38.15% to ₹73.64 crores. These figures underscore NSC’s operational efficiency and strategic market expansion.
Expanding Market Presence
NSC’s growth can be attributed to its effective market strategies and operational improvements. The corporation achieved seed sales revenue of ₹1,005 crores, a notable increase from ₹947 crores in the previous year. Non-subsidized seed sales also saw a significant rise, reaching ₹920 crores, up from ₹847.83 crores. Furthermore, NSC’s digital transformation efforts have paid off, with online seed sales experiencing remarkable growth. The company expanded its market presence by appointing 992 new dealers, bringing the total dealer network to 4,665. Additionally, NSC collaborated with 2,126 Farmers Producers Organisations (FPOs) and Producer Agricultural Cooperatives (PACs) to enhance its outreach.
On the production side, NSC has bolstered its capabilities, achieving raw seed production and procurement of 17.10 lakh quintals. The seed processing capacity has also increased to 25.67 lakh quintals, supported by infrastructure improvements. NSC plays a vital role in government agricultural initiatives, supplying seeds to various stakeholders, including state governments and dealers, while also selling online through the Open Network for Digital Commerce (ONDC) platform.
Commitment to Quality and Sustainability
NSC is dedicated to providing high-quality seeds to farmers across India. The corporation prioritizes quality and sustainability, ensuring a diverse range of bio-fortified and climate-resilient seed varieties. Its product portfolio includes 80 crops and 900 varieties and hybrids, encompassing cereals, oilseeds, pulses, millets, fodder, fiber, and a wide range of vegetables. Additionally, NSC produces saplings of fruit crops such as citrus, pomegranates, guava, mango, and various ornamental and forestry plants.
All NSC seeds and most planting materials are available on the ONDC platform, allowing customers to order online with home delivery through logistics partners. This initiative reflects NSC’s commitment to modernizing its operations and making quality agricultural products accessible to farmers. With a robust infrastructure that includes five major farms, 11 regional offices, and numerous seed processing plants, NSC is well-equipped to meet the diverse needs of farmers across different agro-climatic conditions in India.
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