Bhubaneswar — Three public sector undertakings under Odisha’s Department of Agriculture and Farmers Empowerment have handed over a combined Rs 6,39,97,589 as dividend to the state government in a ceremony held at Lok Seva Bhavan on Tuesday. The payment was made in the presence of deputy chief minister and Agriculture and Farmers Empowerment, Energy Minister Kanak Vardhan Singh Deo.
Odisha PSUs dividend
The dividend was remitted after recommendations from the respective boards of directors and approvals given at the annual general meetings of shareholders. The payments reflect the companies’ adherence to statutory provisions and state fiscal directives governing the declaration and distribution of profits.
Under Section 123 of the Indian Companies Act, 2013, companies must follow prescribed rules when declaring and paying dividends. In addition, the Finance Department of the Government of Odisha has directed state-run firms to distribute 30 per cent of Profit After Tax (PAT) as annual dividend, as set out in Office Circular No. 3980 dated 17.02.2016 and Office Circular No. 30885 dated 07.11.2025.
The break-up of the total dividend is as follows. Odisha Agro Industries Corporation (OAIC) paid Rs 5,23,74,222 for the financial year 2023-24. Odisha State Seeds Corporation Limited (OSSCL) remitted Rs 23,20,967 for financial year 2021-22. Odisha State Cashew Development Corporation Limited (OSCDCL) paid Rs 46,51,200 for each of the financial years 2022-23 and 2023-24, bringing the cashew unit’s total to Rs 93,02,400.
Officials present noted that the funds will be credited to the state treasury to support ongoing programmes and budgetary commitments. While the dividend sums are modest compared with the overall state budget, they represent a steady contribution from sector-specific enterprises to Odisha’s fiscal resources.
State-owned enterprises often provide more than immediate fiscal returns. Beyond dividends, such companies can bolster agricultural supply chains, support farmer inputs and seed distribution, and contribute to rural livelihoods. The three companies involved here operate in agriculture-related sectors and play a role in ensuring input availability for the farming community.
Observers said that consistent dividend payments from PSUs can help improve fiscal predictability and allow the government to allocate resources across priorities such as rural development, infrastructure and social schemes. The payments also illustrate compliance with governance norms and the application of corporate-law provisions to state enterprises.
Speaking at the event, state officials underlined that public sector companies are expected to balance commercial performance with public-interest responsibilities. The dividends announced follow statutory procedures and reflect the boards’ decisions after examining financial results for the relevant years.
The government emphasised that the continuing flow of dividends from state-run enterprises supports efforts to advance sustainable development goals within Odisha. By converting a portion of corporate profits into revenue for public spending, the state can sustain programmes aimed at improving agricultural productivity, farmer welfare and broader socio-economic development.
The transfer of Rs 6.39 crore provides a reminder of the role that state enterprises can play in complementing tax revenues and other fiscal instruments as Odisha navigates its development agenda.
Key Takeaways:
- Three Odisha state-owned enterprises paid a combined Rs 6.39 crore dividend to the state government, bolstering public finances.
- Odisha PSUs dividend payment follows board recommendations and annual general meetings, with payouts based on Section 123 of the Companies Act and state finance directives.
- OAIC, OSSCL and OSCDCL accounted for the total amount, reflecting the role of state enterprises in supporting development and sustainable goals.
