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IFFCO
Mission
IFFCO's
Vision
To augment the incremental incomes of
farmers by helping them to increase their crop productivity through balanced use of energy efficient fertilizers, maintain the environmental health and to make cooperative societies economically & democratically strong for professionalized services to the farming community to ensure an empowered rural India.
Objectives
To serve the cause of IFFCOs mission as stated in the mission document Extend IT enabled services to farmers and cooperatives to promote IT penetration and improve IT comfort levels in rural India. To evolve appropriate dissemination strategies for effective use of IT Enabled Services in Rural India. To extend e-services to cooperative members of IFFCO and in a phased manner. Provide latest and reliable information and extend other services to all those actively involved in the development of Indian agriculture and rural development. Provide necessary information / services for suppliers to IFFCO and achieve e-procurement in a phased manner.
Governance
No individual membership , Membership is open to the following:National, State, district, regional and primary level Cooperative Federation of agricultural credit / marketing / processing / supply etc. National Cooperative Development Corporation Public Financing institutions to the extent required/ requested by the board/ general body of IFFCO
Marketing Director Zonal Manager (5) State Marketing Manager Area Manager (3 for Odisha) Field Officer (1 for Each District)
of Board of Directors. One direct delegate who has contributed more than 10 lakhs to the share capital of IFFCO. The number of such direct delegates(including delegates) should not exceed 800. Delegates not exceeding 200 are to be elected amongst the representatives of member societies having shares of less than 1 lakh in each state /UT. This is done at the rate of one delegate for every 200 member societies.
Election and removal of the members of the board of directors. Amendment or repeal of any existing bye-laws or enactment of any new bye-laws. Consideration and adoption of annual report and statement of accounts of previous year and review of activities of current year. Consideration of audit report and appointment of auditors . Approval of annual budget. Review of actual utilization of reserve and other funds. Review of official deficit (if any).
Admission of members. Authorize convening of meetings of the General Body. Recommend annual and supplementary budgets for approval by general body. Appoint, suspend and remove the Managing Director and Functional Directors and approve their terms and conditions of service. Raise funds for the business of IFFCO. Authorize persons to sign bills, notes and receipts on behalf of IFFCO. Appoint trustees, attorneys and agents for the business of IFFCO.
Sub Committee: This committee is responsible for efficient management of marketing operations of the society. Its power and functions are as follows: To formulate and recommend to the board for approval of overall marketing policy for sale of fertilizers and agricultural inputs. To lay down distribution strategy including the channel and outlets. To recommend to BOD for approval of matters relating to pricing policy of fertilizers and allied products. To lay down guidelines for distribution margins.
Economic activities
Core
Function Business Plan Structure of finance Information and Communication Technology Reporting and Hierarchy of IFFCO
Core Function
Balanced
Fertilizer Programme Soil Testing Labs (Mobile/Static) Socio-Economic Development of Village Human Health Check ups & medicine distribution Veterinary services Drinking water supply & Watershed Mgmt Assistance to School/School children
Business Plan
5
marketing territories Distribution mainly through coop. System Wholesaler- State level Apex Coop Market Federation Supplies to some Agro-industries also 158 IFFCO farmers Service Channel Transportation by rail (88%) Warehousing at godowns of CWC,SWC and Federation godowns
Business Plan
Structure of finance
Sources
of fund: admission fee, share capital , loans and deposits within India and abroad , debentures , bonds and commercial paper , grants-in-aid and donations
Face value Allocated to 1 lakh
10,000
5 lakh
1000
Value
of share is paid in one lump sum or installments as per bylaws Every member subscribes to at least one share Basic minimum level of utilization has to achieved to have the rights IFFCO can receive loan from members and others up to 10 times of its paid up share capital plus accumulated reserves minus losses
Distribution of profits
Reserve
Funds -25% Cooperative Education fund -3 - 5% Rest is distributed as dividend (<=20%) to share holders rebate on purchase by members and Building, education, Charity etc 10% is for unforeseen loss Payment of Ex-gratia to employees a/c to schemes of the board
Audit
Both internal and external audit Board of directors constitute an audit committee To oversee the societys financial reporting process , financial statement etc Review the findings of internal auditors and follow up on any irregularities
Network up to all Area Level Offices with Corporate Office at Delhi. All offices of IFFCO are connected with VPN Video Conferencing Facility at maximum Offices. Implemented Successfully the e-procurement system. Application of Integrated Corporate Enterprise in HR, Finance, Marketing, Transportation & production Multilingual Agri. Information portal and Touch screen based Kiosks.
E-Procurement
Environment
Govt.
regulation on the amount of fertilizer to be manufactured High demand but low supply PPL is the biggest competitor Paradeep plant was previously under Oswal chemicals pvt. Ltd. and was purchased by IIFCO 30,000 MT DAP is being exported to Nepal.