NFL spurts on reporting steep growth in non-urea fertilizers

National Fertilizers (NFL) jumped 8.68% to Rs 32.55 after the company said it has registered growth in sale of all non-urea fertilizers during the first seven months of the current financial year.

In order to promote the balanced use of fertilizers in country, NFL is encouraging farmers in its training programmes to also use non-urea fertilizers like DAP, MoP, NPK and sulphur-based fertilizers. With these efforts, the company has registered growth in sale of all non-urea fertilizers during the first seven months of the current financial year.

Among sulphur based fertilizers of company, Bentonite Sulphur has registered a growth of 237% and Single Super Phosphate (SSP) has registered growth of 133% over the corresponding period last year (CPLY).

While Bentonite Sulphur, produced in NFL Panipat plant, logged sale of 11,730 MT during April-October 2020 against CPLY of 3,478 MT, sale of SSP reached 14,726 MT compared to 6,323 MT during the same period last year.

NFL is engaged in producing and marketing urea, neem coated urea, bio-fertilizers (solid and liquid) and other allied industrial products. As of 30 September 2020, the Government of India owned 74.71% stake in the company.

The company posted a consolidated net profit of Rs 108.31 crore in Q1 June 2020 as against net loss of Rs 64.07 crore in Q1 June 2019. Net sales for Q1 June 2020 stood at Rs 2831.85 crore, rising 11.2% from Rs 2,547.04 crore in Q1 June 2019. The company is yet to declare its Q2 September 2020 result.

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