Latest news with #U.S.Awasthi
Mint
29-05-2025
- Business
- Mint
Iffco expresses concern over slow adoption of its nano-fertilizers
Nano-technology-based fertilizers which contain plant nutrients in very small particle sizes have witnessed a lower-than-anticipated adoption, according to U.S. Awasthi, managing director, Indian Farmers Fertiliser Cooperative Ltd. (Iffco). Iffco launched the world's first 'Nano Liquid Urea' fertilizer in June 2021 and came up with Nano-DAP (di-ammonium phosphate) fertilizers in April 2023. "The adoption of nano fertilizers is lower than anticipated as compared to solid fertilizers," said Awasthi, after announcing the financial results for Iffco. the country's largest agro-fertilizer manufacturer and distributor. He put this down to a lack of awareness of these high-efficiency fertilizers and reluctance among farmers. This is in spite of a significant increase in sales of nano-fertilizers in 2024-25 as compared with a year ago. In the last financial year, Iffco sold 36.50 million bottles of nano-fertilizers, an increase of 47% as over the 24.89 million bottles sold in the previous financial year. Out of 36.50 million bottles, 26.80 million were of Nano Urea Plus (Liquid) and 9.7 million of Nano DAP (Liquid). This is equivalent to 1.2 million tonnes of conventional Urea and 4.85 tonnes of conventional DAP. Considering the total industry volume of 35.80 million tonnes of conventional urea sold last year, the contribution of nano urea is just 3.36%. In case of DAP the contribution of nano-DAP is 5.04% of the total industry volume of 9.62 million tonnes of conventional DAP last year. "In order to increase penetration, we would increase our outreach activities and marketing campaign including social media," added Awasthi. Meanwhile, Iffco booked profit after tax at 2,823 crore in FY25 as compared with ₹ 2,443 crore in FY24. Revenue rose to ₹ 41,244 crore in FY25 fiscal, from ₹ 39,474 crore in the previous year. Commenting upon future plans, Awasthi added,"We will be also launching Nano NPK fertilizer in granular form. Nano NPK fertilizer is enriched with Magnesium, Sulphur, Zinc and Copper which would help in increasing the crop productivity & would minimize nutrient losses." He further said that Iffco will be also launching Nano Zinc and Nano Copper to fulfil micro-nutrients needs of plants. According to him, by incorporating nanotechnology, drones, and artificial intelligence, Iffco is transforming the agriculture & food value chain across the country. Brazil, Kenya and the US have expressed strong interest to adopt the nanotechnology fertilizers, he said. Iffco has expanded its presence in over 40 countries, with reduced rtilizer usage reported from the US\, Brazil, Slovenia, Mauritius, Zambia, Nepal, and Bangladesh.
Time of India
29-05-2025
- Business
- Time of India
IFFCO posts Rs 3,811 crore profit before tax; sales of Nano fertilizers increase 47%
IFFCO has consistently provided its members with a 20% dividend on paid-up share capital for 23 consecutive years. IFFCO, a leading global cooperative, achieved a profit before tax of Rs 3,811 crore for FY 2024-25, whilst witnessing a 47% surge in its Nano Fertiliser sales. During the financial year (2024-2025), the organisation sold 365.09 lakh bottles of Nano-Fertilizers, compared to 248.95 lakh bottles in the previous financial year (2023-2024). The cooperative posted a turnover of Rs 41,244 crore in FY 24-25. During a media interaction, IFFCO Chairman Dileep Sanghani expressed pride in the cooperative sector's achievements, noting that IFFCO's growth figures are fulfilling the vision of "Sahakar Se Samriddhi". He highlighted that the society has maintained profits exceeding Rs 3000 crore for three successive financial years. Additionally, IFFCO has consistently provided its members with a 20% dividend on paid-up share capital for 23 consecutive years, demonstrating its commitment to fair and sustainable development. The society's focus on Nano-fertilizers, supported by the Union Ministry of Chemicals and Fertilizers, along with comprehensive awareness programmes and research, has successfully increased farmer acceptance of these products. During FY 2024-25, IFFCO achieved sales of 365 lakh bottles, comprising 268 lakh bottles of IFFCO Nano Urea Plus (Liquid) and 97 lakh bottles of IFFCO Nano DAP (Liquid). Compared to FY 2023-24, the sales increased by 31% for IFFCO Nano Urea Plus (Liquid) and 118% for IFFCO Nano DAP (Liquid). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Invest today with in Shriram's ULIP Shriram Life Insurance Undo These quantities are equivalent to 12 lakh metric tonnes of Conventional Urea and 4.85 metric tonnes of conventional DAP. IFFCO's WSF/Speciality Fertilizers/Sagarika Granule Fertilizer reached total sales of 1.92 lakh MT. The WSF/Speciality Fertilizers achieved sales of 1.30 lakh MT, showing a 2% increase from the previous fiscal year. Additionally, Sagarika Liquid sales reached 11.55 lakh litre (33% higher), Sagarika Granule achieved 68,000 MT (28% higher), and Bio-fertilizers attained 8.61 lakh Litre (35% higher) compared to the previous fiscal year. Dr. U. S. Awasthi, MD of IFFCO, announced plans to introduce Nano NPK fertiliser in granular form for soil application as a basal dose. This innovative fertiliser contains Magnesium, Sulphur, Zinc and Copper, designed to boost crop yields whilst reducing nutrient wastage. Combined with Liquid Nano Urea Plus and Liquid Nano DAP, it aims to replace conventional chemical fertilisers, promoting balanced nutrition with enhanced primary nutrient efficiency. He also revealed IFFCO's upcoming launch of Liquid Nano Zinc and Nano Copper in 100ml bottles to address micro-nutrient requirements. IFFCO is revolutionising agricultural practices nationwide by integrating Nanotechnology, drone technology, and AI technologies. Their Nano Fertiliser has attracted international attention, with Brazil, Kenya and The United States of America showing keen interest in adopting this technology. IFFCO has established its presence across 40 countries, achieving success and decreased fertilizer consumption in the USA, Brazil, Slovenia, Mauritius, Zambia, Nepal, and Bangladesh. Additionally, the Managing Director stressed the importance of preserving 'Desi' Seeds (Beej) through indigenous innovations, leading to IFFCO's initiative to construct an advanced Seed Innovation Centre at their Kalol Unit. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
