Gujarat's GNFC turns long term debt free, posts 51% rise in PAT for FY'18

Registers profit before tax of Rs 11.62 crore, highest among Govt. of Gujarat companies

Fertiliser major Gujarat Narmada Valley Fertilizers and Chemicals Limited (GNFC) has turned long term debt free. The state-owned company has paid off the Rs 8.88 billion of long term debt it had at the start of the financial year 2017-18, achieving its target set early last year.

The company now plans to reduce its working capital requirements substantially as well, said Rajiv Kumar Gupta, IAS, Managing Director of GNFC.

On the back of record production of its Touline Diisocyanate (TDI) and non-TDI products and capacity utilisation, coupled with jump in exports, GNFC