NSC, SFCI pay dividend to Sharad Pawar

New Delhi, Oct 22 (IBNS) The National Seeds Corporation (NSC) and State Farms Corporation of India (SFCI) presented cheques of dividend for the year 2009-10 to Sharad Pawar, Minister of Agriculture, Consumer Affairs, Food and Public Distribution, here on Friday.

The NSC cheque of Rs. 2.26 crore was presented by its Chairman and Managing Director, S.K. Roongta. SFCI also presented a dividend cheque of Rs. 1.57 crore to the Minister.

Speaking on the occasion, Pawar said that NSC has made substantial improvement and provided high quality seeds to farmers at reasonable rates. He said, this has led to high increase in agricultural production in the country.

The NSC, a category I Mini Ratna company has achieved a record turnover Rs. 472 crore which is 62% higher than previous year. It produced more than 15.10 lakh quintals of quality seeds in the current year as against 10.18 lakh quintals during last year.

The company declared dividend of 11% on its paid up share capital which is the highest payout since its inception. The production of oilseeds and pulses increased from 3.89 lakh quintals in 2008-09 to 6.89 lakh quintals during the current year. The production of vegetable seeds registered an increase of 31% over the previous year.

The turnover of SFCI increased from Rs. 195.26 crore in 2008-09 to Rs.266.21 crore in 2009-10 recording an increase of 36%. Its net profit increased from 9.77 crore in 2008-09 to 21.53 crore in 2009-10 with an increase of 120%. It is for the first time that the Corporation paid dividend of 1.57 crore to the Central Government.

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