RCF soars on awarding Rs 1,000-cr contract to L&T for new fertiliser plant

Rashtriya Chemical & Fertilizers (RCF) rallied 7.05% to Rs 183.05 after the company awarded a contract worth Rs 1,000.27 crore to L&T for setting up of 1200 MTPD complex fertilizer plant on lump-sum turnkey (LSTK) basis at RCF, ThaI.

Shares of Larsen & Toubro rose 0.87% to currently trade at Rs 3,516.80 on the BSE.

In a regulatory filing, the company stated, We hereby inform you that the board of directors, at its meeting held today, 9 October 2024, has approved the placement of a purchase order on Larsen & Toubro for the setup of a 1,200 MTPD (DAP basis) complex fertilizer plant on LSTK basis at RCF, Thal.

The project is valued at Rs 1,000.27 crore and is expected to be completed within 27 months.

Rashtriya Chemicals & Fertilizers (RCF) is engaged in the manufacturing and marketing of fertilizers and industrial chemicals. As on 30 June 2024, the Government of India held 75% stake in the company.

The companys consolidated net profit slipped 84.04% to Rs 10.80 crore in Q1 FY25 as compared with Rs 67.69 crore posted in same period last year. Revenue from operations grew by 8.73% year on year (YoY) to Rs 4,396.06 crore during the quarter ended June 2024.

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