NRDC Grows 33.5% in FY 2016-17
The state owned NRDC, which is under the Deptt. of Scientific Industrial Research, Ministry of Science & Technology, Govt. of India registered a growth of 33.5% in 2016-17 as compared to the previous year.
CMD of NRDC, Dr. H. Purushotham informed that the performance of the company and the roadmap for its growth was presented to the Shareholders on 20th Sept., 2017 in its 63rd Annual General Meeting. The company posted a profit before tax of Rs.134.24 lakhs while its total income has surged to Rs.2627.62 lakhs. About 80% of the revenue of the company has come from technology transfer fee / royalty, 15% from consultancy services and the remaining 5% from other sources. The average growth in revenue was 50% and profit before tax was 971% during the last 3 years period compared to the previous 3 years, which clearly shows the company is in the turnaround phase.
During the F Y 2016-17,NRDC signed agreements with 41 R&D institutions, universities, PSUs for sourcing technologies, acquired 108 technologies from these institutions, filed 35 patents and transferred/ licensed 36 innovative technologies to start ups/entrepreneurs which is a major contribution to Make in India. NRDC has assisted start-up India Mission and evaluated about 1000 star- up proposals for their innovation content/technology and gave its recommendations and DIPP approved 67 start ups for tax benefits.
Dr. H. Purushotham, CMD, NRDC informed that the company is aligning its programmes in line with the Govt.’s vision for building “New India” by putting emphasis in initiatives like Start-up India, Skill India and Make in India by way of transferring / commercialising innovative IPRs developed by public funded R&D Labs / Universities / PSUs to Entrepreneurs / Start-ups.