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GNFC overtakes last FY’s PBT in just nine months Company declares Highest Ever quarterly results

Jan 22nd, 2018 2:24 pm | By | Category: LATEST NEWS

Dr Rajiv Kumar Gupta, Managing Director, (GNFC)

Dr Rajiv Kumar Gupta, Managing Director, (GNFC)


THE NEWSMAN OF INDIA.COM
creating history GNFC declared on 22nd January, 2018 highest ever results in Third quarter as well as Nine months ending 31st December, 2017. Rs. 721 crores PBT of nine months is higher than highest ever full year profit of Rs. 715 crores registered at the end of last Financial year. The Company has also registered highest ever increase in EBITDA margin of 29% at the end of 3rd quarter. The sales realization in key chemicals like TDI, Methanol, Ethyl Acetate and Formic Acid for the Nine months have surpassed the sales realization during the entire Financial Year last year. The Company has also increased domestic market share of TDI from 49% to about 63%. It is pertinent to note that the finance cost of GNFC has reduced by over 50% due to pre-payment of close to Rs. 500 crores of Long Term Debt. During the last four years GNFC has reduced its long term debt level by more than 90% which speaks highly of strong financial management of the Company (from Rs.2,381 crore in 2013-14 to Rs. 213 crore at the end of 3rd quarter.

This extra ordinary performance has been made possible due to very high plant operational efficiency, smart marketing strategies, substantial reduction in finance and logistic costs and noticeable increase in direct export led growth of GNFC. The Company has already overtaken last entire financial year’s performance in just nine months in key indicators like Profit Before tax, Profit After Tax, EPS, Revenues from major chemical like TDI, Methanol, Ethyl Acetate, Formic Acid etc. and total export with still one full quarter to go.

ABOUT GNFC (https://www.gnfc.in/)
Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) is a joint sector enterprise promoted by the Government of Gujarat and the Gujarat State Fertilizers & Chemicals Ltd (GSFC). Set‐up in Bharuch, Gujarat in 1976; the Company draws on the resources of the natural wealth of the land as
well as the industrially rich reserves of the area.

GNFC started its manufacturing and marketing operations by setting up in 1982, one of the world’s largest single‐stream ammonia‐urea fertilizer complexes. Over the next few years, GNFC successfully commissioned different projects ‐ in fields as diverse as chemicals, fertilizers and electronics. GNFC today has extended its profile much beyond fertilizers through a process of
horizontal integration. Chemicals / Petrochemicals, Energy Sector, Electronics / Telecommunications and Information Technology form ambitious and challenging additions to its
corporate portfolio. GNFC has an enterprising, strategic view towards expansion and diversification.

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