BHUBANESWAR: The Odisha State Seeds Corporation (OSSC) has registered a profit of Rs 4.5 crore in 2023-24. This was informed by principal secretary of Agriculture and Farmers’ Welfare Arabinda Padhee, who chaired the annual general body of the state-run corporation held here recently.
Padhee said the corporation had done a business of Rs 307 crore. As per unaudited accounts, the state public sector undertaking is expecting a profit of Rs 4.5 crore.
In the current financial year, the corporation has planned to do business to the tune of Rs 350 crore. It had set a target to produce 3.5 lakh quintal of paddy seeds and 75,000 quintal of non-paddy seeds during 2024-25 through registered seed growers.
He said plans are afoot to produce and supply quality seeds to other states and accordingly farmers are encouraged to undertake paddy and non-paddy seeds production on a commercial basis for which all assistance will be provided.
The corporation has been providing dividend to its shareholders in the last three years. It had announced 11 per cent dividend for 2022-23. The state PSU has made a profit of Rs 3 crore in 2022-23 as against Rs 1.4 crore in the previous financial year.
The corporation had given dividend to its shareholders for the first time in 2011. After mixed performances in the following years, the business of the corporation had started looking up from 2019-20 onward, officials said.
Padhee said the state government’s effort to improve farm mechanisation has shown positive results. Odisha has become a leading state in the sale of tractors.
Now the focus is on value addition of foodgrains and other agriculture produce and development of a cold storage chain in the state. The department has initiated measures to set up 58 cold storages in equal number of sub-divisions which has been announced by the state government, he said.