State-run Gujarat Narmada Valley Fertilisers and Chemicals Ltd (GNFC) reported a quick turnaround from a net loss of Rs 452 crore on standalone basis in 2014-15 to a net profit of Rs 226 crore for the year 2015-16. The company reported a turnover of Rs 4,548 crore for the fiscal as against Rs 4,641 crore in the previous year.
This was despite the sluggish market conditions worldwide including India. The company attributed the strong performance to "all-time highest production of ammonia, urea, ANP, CNA, formic acid and TDI as also the ever-highest sales records in WNA, ANP, CNA, AN(Melt) and Technical Grade Urea."
As a future expansion plan, the company has entered into a joint venture with Eco Phos, Belgium, for setting up the country's largest facility for the manufacture of Di-Calcium Phosphate, an animal feed, the company informed here.
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State-run GNFC returns to profit
By IndianMandarins - 2016-04-28 10:52:54
State-run Gujarat Narmada Valley Fertilisers and Chemicals Ltd (GNFC) reported a quick turnaround from a net loss of Rs 452 crore on standalone basis in 2014-15 to a net profit of Rs 226 crore for the year 2015-16. The company reported a turnover of Rs 4,548 crore for the fiscal as against Rs 4,641 crore in the previous year.
This was despite the sluggish market conditions worldwide including India. The company attributed the strong performance to "all-time highest production of ammonia, urea, ANP, CNA, formic acid and TDI as also the ever-highest sales records in WNA, ANP, CNA, AN(Melt) and Technical Grade Urea."
As a future expansion plan, the company has entered into a joint venture with Eco Phos, Belgium, for setting up the country's largest facility for the manufacture of Di-Calcium Phosphate, an animal feed, the company informed here.
