Indian Farmers Fertiliser Cooperative
|Founded||3 November 1967|
|Headquarters||IFFCO Sadan C-1, District Centre, Saket Place, New Delhi, India|
|Balwinder Singh Nakai, Chairman
Dr. Udai Shanker Awasthi, CEO
|Revenue||₹211.9 billion (US$3.3 billion) (2010–11)|
|₹7.914 billion (US$120 million) (2010–11)|
Indian Farmers Fertiliser Cooperative Limited, also known as IFFCO, is a small scale fertiliser cooperative federation based in India which is registered as a Multistate Cooperative Society. IFFCO has 40,000 member cooperatives. IFFCO has been ranked#537 in top companies in India in 2011 by Fortune India 500 list.
On 3 November 1967 Indian Farmers Fertiliser Cooperative Limited (IFFCO) was registered as a Multi-unit Co-operative Society. It got deemed recognisation under the provisions of Multistate Cooperative Societies Act 1984 & 2002 later.
Initially, IFFCO commissioned an ammonia – urea complex at Kalol and the NPK/DAP plant at Kandla both in the state of Gujarat in 1975. Another ammonia – urea complex was set up at Phulpur in the state of Uttar Pradesh in 1981. The ammonia – urea unit at Aonla was commissioned in 1988. Recently, IFFCO has acquired an NPK/DAP and Phosphoric acid fertiliser unit at Paradeep in Orissa in September 2005. The marketing of IFFCO's products is channelled through cooperative societies and institutional agencies in over 29 states and union territories of India.
Production and sales
During the year 2008–09 IFFCO produced 7,168,000 tonnes of fertiliser material; registering overall capacity utilisation of 98 percent for nitrogenous and 53 per cent for phosphate fertiliser. It contributes 21.4% of country's total nitrogenous fertiliser production and 27% of total phosphate fertiliser production in the same period. Plant productivity during the year stood at 1373 tonnes/person. The Society has also achieved another important landmark in the field of energy conservation by clocking overall annual energy of 5.943 Gcal/tonne of urea. The Society has cloaked an all-time high sales of 11,258,000 tonnes of fertiliser during 2008–09
The society has recorded an all-time high turnover of Rs.329.33 thousand.
Diversification and joint ventures
- Indian Potash Limited in India
- Industries Chimiques du Senegal (ICS) in Senegal
- Oman India Fertiliser Company (OMIFCO) in Oman
- Indo Egyptian Fertiliser Company (IEFCO) in Egypt,
- Jordan India Fertiliser Company in Jordan
- IFFCO Tokio General Insurance Company Limited (ITGI)
- Equity in National Commodity and Derivatives Exchange (NCDEX) and National Collateral Management Services Limited
- IFFCO Chhattisgarh Power Limited
- IFFCO Kisan Sanchar Ltd (IKSL)
- KISAN Special Economic Zone (IKSEZ) at Nellore in Andhra Pradesh
- IFFCO-MC Crop Science Pvt. Ltd.
- In February 2010, it was announced that IFFCO had entered into a joint venture partnership with GrowMax Agri Corp, a subsidiary of Americas Petrogas Inc.
- Indian Farm Forestry Development Cooperative Ltd (IFFDC),
- Cooperative Rural Development Trust (CORDET),
- IFFCO Foundation
- Kisan Sewa Trust
- "Ten Years' Financial Highlights" (PDF). IFFCO. Retrieved 2011-12-08.
- Bhaskal, Utpal. IFFCO plans to set up overseas cooperatives for pulses cultivation. Livemint. 5 November 2009.