National Seeds Corporation declares highest ever dividend of Rs. 35.30 Crores for FY23-24

National Seeds Corporation Limited (NSC), a PSU under the Ministry of Agriculture and Farmers’ Welfare, has announced the declaration of final Dividend of Rs 35.30 Crores for the Financial Year 2023-24, representing 5% of its net worth, in compliance with Department of Investment and Public Asset Management-DIPAM guidelines.

This highest-ever dividend underscores NSC’s commitment to contributing to National Agricultural Development while ensuring financial sustainability. The Dividend cheque was presented to the Minister of Agriculture and Farmers’ Welfare Shri Shivraj Singh Chouhan by Dr. Maninder Kaur Dwivedi, Chairperson cum Managing Director of NSC, in a ceremony held at Krishi Bhawan in New Delhi.

NSC is a Schedule 'B'-Mini Ratna Category-I company wholly owned by the Government of India under the administrative control of the Ministry of Agriculture and Farmers Welfare. Established in 1963, NSC is engaged in the production and distribution of certified seeds to enhance agricultural productivity and ensure food security in India.

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During FY 2023-24, NSC recorded significant growth in its financial performance. The revenue from operations increased to Rs 1,143.26 Crores from Rs 1,078.23 Crores in the previous year, while the total income rose to Rs 1,182.48 Crores (ever highest) compared to Rs 1,112.13 Crores in 2022-23.

The company’s profitability also witnessed a substantial increase, with Profit Before Tax (PBT) surging by 64.74% to Rs 86.81 Crores and ever highest Profit After Tax (PAT) growing by 38.15% to Rs 73.64 Crores.

The operational efficiency and strategic market expansion contributed to this growth. The company achieved seed sales revenue of Rs 1005 Crores, marking an increase from Rs 947 Crores in the previous year. Notably, non-subsidized seed sales reached Rs 920 Crores, up from Rs 847.83 Crores.

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On the production front, NSC continued to enhance its capabilities, with raw seed production/procurement reaching 17.10 lakh quintals. The seed processing capacity increased to 25.67 Lakhs quintal, supported by infrastructure improvements.

Additionally, NSC played a crucial role in Government agricultural initiatives, supplying seeds to the Government, State Governments, and dealers and also selling online via the ONDC platform.

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