APOILFED firm on growth path

Seelam Arozie
Vijayawada

Nothing succeeds like success. Keeping faith in this age-old maxim and being a solid rock behind the AP Cooperative Oilseeds Growers’ Federation Ltd (APOILFED), its Vice-Chairman and Managing Director Chavala Babu Rao is leaving no stone unturned to launch the Federation on the path of progress.

Under his stewardship, the has Federation been making long strides by exceeding the targets.

Sharing the annual targets set in various categories of APOILFED for the Financial Year 2022-23 and the results achieved in the past seven months as on October 31, 2022, with The Pioneer, Babu Rao said it has been an arduous journey for him thus far after he took over the reins of the organisation.

Babu Rao said APOILFED is engaged in the marketing of edible oils with good quality and assured quantity like groundnut oil, refined sunflower oil, palmolein oil, rice bran oil, Deepam oil, and coconut oil under the brand name of ‘Vijaya’. He said the meeting of the Board of Directors held on November 29 discussed among other things the Status notes on ‘Oil Palm Division Activities’ and ‘Consumer Marketing Activities’.

Babu Rao said apart from him, the meeting was attended by APOILFED Person-in-Charge Shaik Gousia Begum, and Directors C Hari Kiran, Special Commissioner of Agriculture, Govt of AP, SS Sreedhar, Commissioner and Director of Horticulture, Govt of AP, N Radhika Madhavi, Joint Registrar of Cooperative Societies, Govt of AP, D Sujata, Deputy Secretary to Govt of AP and S Rajeev, Regional Head, National Dairy Development Board (NDDB).

He said that while the projected budgeted turnover for the FY 2022-23 was Rs 300.89 crore, the APOILFED already achieved 99% of it by netting Rs 300.19 crore in just seven months. The Federation achieved an operational profit of Rs 20.55 crore and a net profit of Rs 7.01 crore, after depreciation against the budgeted gross profit of Rs 9.02 crore and net profit of Rs 2.04 crore.

The APOILFED VC & MD said that in the Consumer Marketing category, while the projected gross profit was 4.61 crore for the whole financial year, an impressive actual gross profit of Rs 4.06 crore was achieved in a span of just seven months. Likewise, in the Fresh Fruit Bunch (FFB) Processing category, the projected gross profit was 8.39 crore for the entire year but a phenomenal actual gross profit of Rs 16.41 crore was netted during the same seven-month period.Significantly, the Federation’s income increased remarkably in the past two years, registering growth with each passing year.

The APOILFED VC & MD said that all could be achieved without compromise on quality and quantity facilitated by a strict in-house quality-testing mechanism. Efficient procurement of raw materials at the appropriate time and pricing of the products are two other factors that are contributing to the growth of the Federation’s income, he added.

‘All this was possible thanks to the steadfast commitment of Chief Minister YS Jagan Mohan Reddy and Agriculture Minister Kakani Govardhan Reddy to the development of agriculture and the welfare of the farmers. Besides, a series of innovative steps being implemented in the agriculture sector have spurred the Federation’s growth immensely’,