National Fertilizers spurts on record fertilizer sales

National Fertilizers jumped 15.28% to Rs 35.45 after the company said fertiliser sales jumped 21.5% in Q1 June 2020 over Q1 June 2019.

National Fertilizers said it achieved highest-ever fertilizer sale of 12.85 lakh metric tonnes (LMT) in Q1 June 2020. This is about 21.5% higher than the sales of 10.57 LMT reported in Q1 June 2019.

Other than significant growth in Urea sale, Phosphatic and Potassic (P&K) fertilizers also recorded a growth of 13% during the quarter, NFL said in a statement after market hours on Friday (3 July).

Meanwhile, the company sold 5.30 LMT of fertilizers in June 2020, up 15.5% compared with 4.59 LMT sold in the same month last year.

 

National Fertilizers is engaged in producing and marketing urea, neem coated urea, bio-fertilizers (solid and liquid) and other allied industrial products. As of 31 March 2020, the Government of India owned 74.71% stake in the company.

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