Assam-based Numaligarh Refinery Ltd (NRL), a subsidiary of Bharat Petroleum Corporation Ltd (BPCL), has declared a dividend of 15 per cent (Rs 1.50 per equity share) for 2010-11 on the paid-up share capital.
The decision was taken at the 18th annual general meeting (AGM) of the company here on Friday.
During 2010-11, NRL had record sales of Rs 8,972 crore, a growth of 13.9 per cent over the previous year’s Rs 7,874 crore. The gross refining margin increased to $15.39 per barrel, compared to $11.19 per barrel during 2009-10. Profit before tax was Rs 415 crore, a 14.6 per cent increase over last year’s Rs 362 crore. Net profit at Rs 279 crore rose 20.3 per cent over last year’s Rs 232 crore.
The total dividend to be paid for 201011 to shareholders — BPCL, Oil India Ltd (OIL) and the Assam government — would amount to Rs 110.3 crore.
On retail marketing, NRL’s per-pump throughput during 2010-11 was 270 kl per month in the northeast and 252 kl per month on an all-India basis. Its retail market share in the northeast has reached 13 per cent.
It processed 2.25 million tonnes of crude oil in 2010-11. Distillate yield (of high-value liquid petroleum products) was 84.7 per cent, one of the highest in the country.
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It is implementing two ambitious value-added projects. A Rs 577-crore wax project envisages production of high value and low volume paraffin and micro-crystalline wax. A Rs 60-crore naphtha splitter unit will produce 160 tmt of petrochemical-grade naphtha annually, to be supplied as feedstock to the Assam Gas Cracker Project.
BPCL is the majority stakeholder in NRL, with 61.65 per cent stake, followed by OIL (26 per cent stake) and the Assam government (12.35 per cent stake).