National Seeds Corporation announces ₹35.30 crore dividend for FY24
National Seeds Corporation (NSC), a public sector undertaking under the Ministry of Agriculture, has announced final dividend of ₹35.30 crore for FY24, representing 5 per cent of its net worth. The highest ever dividend in FY24 underscores NSC’s commitment to contributing to national agricultural development while ensuring financial sustainability, the government said.
The dividend cheque was presented to Agriculture Minister Shivraj Singh Chouhan on Tuesday by Maninder Kaur Dwivedi, Chairperson cum Managing Director of NSC, in the presence of Agriculture Secretary Devesh Chaturvedi and other senior officials.
Revenue of ₹1,143.26 crore
NSC, a ‘B’-Mini Ratna Category-I company, has reported a revenue (from operations) of ₹1,143.26 crore, including ₹1,005 crore from sales of seeds in FY24, up from ₹1,078.23 crore in the previous year. The company’s net profit surged 38 per cent to ₹73.64 crore, the Agriculture Ministry said in a statement.
Digital transformation
Online seed sales via ONDC platform also saw a remarkable rise, reflecting NSC’s efforts in digital transformation. The company strengthened its market presence by appointing 992 new dealers, bringing the total dealer network to 4,665. The Company also appointed 2,126 Farmers Producers Organisations (FPOs) and PACS and LAMPs as its seed dealers.