Rashtriya Chemicals & Fertilizers gets Navratna status: On September 2, 2023, Rashtriya Chemicals and Fertilizers Limited (RCF) was conferred ‘Navratna status’ by the Department of Public Enterprises (DPE).
Daily Current Affairs Quiz: September 2023
| SHORT QUESTION |
|---|
| What is the dividend of RCF 2023? For the year ending March 2023 Rashtriya Chemicals and Fertilisers has declared an equity dividend of 53.00% amounting to Rs 5.3 per share. At the current share price of Rs 123.30 this results in a dividend yield of 4.3%. |
An Overview of the News
The ‘Navratna Status’ designation empowers RCF as one of the select groups of Public Sector Enterprises in India with significant financial autonomy. These companies can invest up to Rs 1000 crore in projects without approval from the central government.
Before achieving ‘Navratna status’, RCF had earlier achieved ‘Miniratna status’ from the Department of Public Enterprises.
Navratna companies are recognized as pillars of excellence in India’s public sector and are known for their exceptional performance and significant contribution to the country’s economy. These companies have substantial financial freedom, which allows them to make investment decisions for projects up to a specific limit without requiring government approval. Navratna companies fall under the category of Central Public Sector Enterprises (CPSEs) and are evaluated based on specific operational and financial parameters, including factors such as net profit, total cost of production, earnings per share, and cross-sector performance.
Rashtriya Chemicals and Fertilizers Limited (RCF):-
- Ownership: Government-owned enterprise in India
- Headquarters: Mumbai, India
- Primary operations: production of chemicals and fertilizers
- Government Ministry: Comes under the Ministry of Chemicals and Fertilizers
- Establishment: Established in 1978 after the restructuring of the Fertilizer Corporation of India.
- Product Portfolio: Includes Urea and Complex Fertilizers (NPK) and Industrial Chemicals
- Ranking: Fourth largest producer of state-owned fertilizers in India
- Urea Production: 4th largest urea producer in India
- Chairman and Managing Director: S. C. Mudgerikar
