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Deepak Fertiliser to get pending Rs 310 cr subsidy payment

Press Trust of India  |  New Delhi 

and Petrochemicals Corporation (DFPCL) today said that the has decided to release the pending Rs 310.52 crore fertiliser subsidy on a gurantee of equivalent amount.

In a filing, the company said that the Fertiliser Ministry had withheld a subsidy of Rs 310.52 crores pending decision on recovery of alleged undue gain on account of supply of 'cheap' gas.

"The company has now received an intimation that the Department of Fertiliser would release the balance withheld amount of Rs 310.52 crore on providing a guarantee of equivalent amount," it said.

DFPCL is one of India's leading producers of chemicals and fertilisers. It offers about 48 traded products including bulk fertilisers, speciality fertilisers, water soluble fertilisers, micro nutrients and secondary nutrients.

The small-cap company has equity capital of Rs 88.20 crore. Its closed at Rs 266.20 apiece on the today.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 15 2017. 21:03 IST