The 32nd Annual General Meeting (AGM) of Numaligarh Refinery Limited (NRL) was held today at the NRL Centre in Guwahati under the Chairmanship of Dr. Ranjit Rath. The meeting was attended by the NRL's shareholders, Directors and senior management of the Company. Media representatives and journalists from the region were present in a post-AGM briefing and engaged with the Chairman on the NRL's growth trajectory, current initiatives and future plans.
Dr. Rath drew attention to the inauguration of the world's first bamboo based 2-G Bio Ethanol Plant by the Hon'ble Prime Minister, in presence of Hon'ble Chief Minister of Assam, Hon'ble Minister for Ports, Shipping & Inland Waterways, Hon'ble Minister for Petroleum & Natural Gas, and other senior Central and State Government officials on 14th September at Numaligarh. He said the commissioning this landmark project is aligned with Government of India's import substitution and 'Make in India' efforts and demonstrate the Company's pioneering role in bio-energy transition and value addition to local resources.
The Hon'ble Prime Minister also laid the foundation stone of a 360 KTPA polypropylene plant at Numaligarh which will be implemented by NRL at a project cost of over Rs. 7,000 ; juxtaposed to the expanded refinery, it will raise NRL's Petrochemical Intensity Index by 4.
In his address, Dr. Rath highlighted the robust performance of NRL during FY 2024-25. NRL's net worth reached the unprecedented height of Rs. 16,069 as on 31st March 2025 - a 25% increase over the previous year. Revenue from operations grew to Rs. 25,147 from Rs. 23,731 , reflecting healthy growth of 6% despite margin pressures.
Profit before and after tax (PBT and PAT) during the year were Rs. 2,215 crore and Rs. 1,608 respectively compared to the corresponding numbers of Rs. 2,912 crore and Rs. 2,160 crore a year ago. The moderation in profitability was primarily due to the narrowing spread between product and crude oil prices in the global market which led to a reduction in the Gross Refining Margin (GRM) from $13.17 per barrel to $5.14 per barrel. The Company recorded the highest-ever capital expenditure during the year at Rs. 9,038 .
Dr. Rath informed that in 2024-25, NRL's refinery achieved over 100% capacity utilisation with 3,066 TMT crude oil processing - the second time in last three years. This was possible with the highest-ever domestic crude oil receipt at 3,033 TMT from OIL and ONGC apart from 22 TMT imported crude. NRL's distillate yield at 86.7% was the highest amongst the PSU refineries in the Country.
Corresponding to high refinery throughput, diesel production during the year was 2,044 TMT. MS and Wax production touched their historical highs at 725 TMT and 50 TMT respectively. The LPG bottling plant adjacent to the refinery operated beyond its rated capacity leading to the production of 64 TMT packed LPG.
On the marketing front, highest-ever sales volume was recorded at 3,125 TMT surpassing the previous highest of 3,019 TMT in 2022-23. Sale of MS, Wax and Sulphur touched all-time highs at 707 TMT, 49 TMT and 6 TMT respectively. HSD sale was 2,030 TMT. RPC and CPC sales were 44 TMT and 57 TMT respectively.
Significant strides were made in terms of project implementation with the Refinery Expansion Project achieving an overall progress of 81%, and financial progress of 78%, as on date, in resonance with Government commitments.
On the Corporate Social Responsibility (CSR) front, the Chairman NRL underlined NRL's strong social commitment with over Rs. 80 spent during the year on various schemes for social welfare and community development. The Vivekananda Kendra NRL (VKNRL) hospital and the VKNRL School of Nursing continue to deliver medical facilities and health care to the communities in and around the refinery in Numaligarh.
Dr. Rath emphasised that NRL is firmly on a growth path, combining disciplined execution of expansion projects with strong operational performance. He highlighted pioneering digital innovations such as AI-powered Smart Truck Parking, Digital Twin applications and 5G mobile-enabled business processes that are setting benchmarks in the refining sector.
Concluding his remarks, Dr. Rath reaffirmed NRL's vision to pursue India's energy security agenda with the envisaged enhancement of the refinery capacity of 9 MMTPA, while aligning with the mission of Atmanirbhar Bharat, Net Zero commitment and local community development.
Released by the Corporate Communications department of NRL
