Sunday 8th December 2019

GNFC Creates History, Registers Highest Ever Performance in FY 2016-17 (41 YEARS AGM held)

Sep 30th, 2017 9:47 am | By | Category: LATEST NEWS

Dr. R K Gupta, CMD-GNFC, Adrressing 41th AGM

Dr. R K Gupta, CMD-GNFC, Adrressing 41th AGM


THE NEWSMAN OF INDIA.COM

Address to the members at 41 st AGM of the company by Chairman of the meeting, Dr. Rajiv Kumar Gupta, IAS.

41 st AGM of Gujarat Narmada Valley Fertilizers & Chemicals Ltd., Bharuch, was held
on 29 th September, 2017. A very large number of Members attended the sameenthusiastically and expressed trust in the Management and Administration of the company.

Dr. Rajiv Kumar Gupta, while analyzing the National and Global Economic Scenario ,expressed confidence that the two recent historical initiatives of Government viz. Demonetization and implementation of Goods & Service Tax (GST) will further strengthen the economic foundation and will play a significant role in long term development of India.

While appraising esteemed Members about Financial Performance of the company,
Dr. Rajiv Kumar Gupta, The Chairman said:
• Company has achieved highest ever PBT of Rs.715 Crores while PAT has also been highest ever at Rs.521 Crores during the year 2016-17.
• Highest ever single quarter PBT of Rs.314 Crores for the fourth quarter of FY 2016-17.
• Highest ever exports of Rs. 361 Crores in 55 countries.
• Highest ever turnover of Rs.189 Crores and Profit of Rs.51 Crores by Information Technology (IT) Division.
• Highest ever Market Capitalization of Rs.5015 Crores
• Highest ever Dividend of Rs.5/- per equity share i.e. @ 50%.
• Highest ever earning per share Rs.33.54.

GNFC AGM

The Chairman while giving details of operating performance informed that Ammonia, Urea, Ammonium Nitrophosphate, Formic Acid and TDI-II Plants have achieved highest ever production. Acetic Acid and Aniline Plants were also operated at more than 100% capacity.

The Marketing Department has adopted smart marketing strategies and export oriented goal which has helped in achieving sales turnover of 12.55 Lac MT Industrial Products worth Rs.3062 Crores. The company has also performed well in the Fertilizer business and sold 10.37 Lac MT of Urea. Company has made 190 records in production and sales during the year. The IT Division of the company (n)Code Solutions’ focus areas are Smart City, Intelligent Transportation, System Integration, Geographical Information System and Surveillance, Digital Mapping,
Business Intelligence, e-KYC, e-Sign, etc., and is steadily progressing.

GOI is steadily pursuing to implement direct benefit transfer (DBT) Scheme. GNFC has achieved the target to install PoS devices. With the enactment of GST, except in few States where there was no tax on Fertilizers earlier, the cost of Fertilizers has reduced with applicable rate of 5%. This is hugely beneficial to farmers. Dr. Gupta informed that with a view to accelerate the growth, the company has been exploring potential business opportunities. The company has undertaken expansion of its revolutionary Neem Project, setting up of Di-Calcium
Phosphate Project with Capex of Rs.538 Crores, Coal based Captive Co-generation Power Plant to produce 18 MW power and 150 MT/hr steam, 40MW Solar Power Generation Project etc

Dr. Gupta informed that collection of Neem Seeds to produce high quality Neem Oil and other Neem based products like Neem Soap, Neem Pesticides,Neem Hand Wash, Neem Shampoo, Organic Neem Manure and Neem Hair Oil has helped generate extra income for Lacs of rural women. This has been taken note of at national level. Hon’ble PM has also appreciated and praised this initiative of GNFC.

The company has won total 14 National and International Awards for its various initiatives in the field of Neem Project and Cashless Drive which includes prestigious Porter Prize, Golden Peacock Award, Skoch Blue
Economy Person of the year award, CSR Leadership summit Award etc. GNFC contributed Rs. 6 Crores for 3024 toilets in 25 villages of Bharuch district under “Swachchh Bharat Abhiyan”.

The Chairman also informed that during the first quarter of FY 2017-18 the company has achieved PBT of Rs.105 Crores, which is the highest PBT of first quarter in the last 10 years.

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