GSFC spurts after CBIC proposes anti-dumping duty for caprolactam

Gujarat State Fertilizers & Chemicals (GSFC) jumped 4.61% to Rs 129.45 after the Central Board of Indirect Taxes and Customs (CBIC) proposed anti-dumping duty for caprolactam.

GSFC had filed an application before the designated authority in accordance with Customs Tariff Act, 1975 for initiation of anti-dumping investigation concerning imports of "caprolactam" originating in or exported from European Union, Korea RP, Russia and Thailand.

The authority, on the basis of prima facie evidence submitted by GSFC, initiated the investigation and recommended an anti-dumping duty.

GSFC has two caprolactam plants having rated capacities of 20,000 TPA and 50,000 TPA. The main raw materials are Benzene, Oleum, Ammonia, Carbon Dioxide, Synthesis Gas, Sulphur Dioxide, Caustic Soda and Sulphuric Acid.

On a consolidated basis, net profit of GSFC rose 349.65% to Rs 136.11 crore on 13.10% rise in net sales to Rs 1850.91 crore in Q1 June 2021 over Q1 June 2020.

GSFC manufactures fertilizers and industrial chemicals.

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