National Fertilizers (NFL) recorded its highest-ever total fertilizer sale of 59.36 lakh MT (million tonnes) in FY 2020-21 crossing its previous best of 57.04 lakh MT achieved during 2019-20, recording a 4.06% rise Y-o-Y (year-on-year).
On the production front, the company produced 37.99 lakh MT of urea in its plants recording a capacity utilisation of 117.6% despite severe restrictions of COVID-19 and other despatch related challenges due to farmers' agitation in Punjab. In the plants, Panipat unit has set a new production record of Urea and Bentonite Sulphur and Vijaipur unit produced highest ever volume of biofertilizers.
Other than fertilizers, the company registered robust growth in sale of seeds and agrochemicals. While sale of seeds grew 35% than CPLY at 1,85,550 quintals, the agrochemicals segment indicated a growth of 95% than the previous year.
Even the sale of Bentonite Sulphur, produced at NFL's Panipat plant, has recorded huge growth of 150% at 19,958 MT against 7,974 MT in CPLY. Also the industrial products segment performed well during the year, as per the company's exchange filing.
NFL's consolidated net profit tanked 50.6% to Rs 52.89 crore on a 22.4% decline in net sales to Rs 2,938.69 crore in Q3 FY21 over Q3 FY20.
Shares of NFL slipped 1.81% to Rs 54.35 on BSE. NFL is engaged in producing and marketing urea, neem coated urea, bio-fertilizers (solid and liquid) and other allied industrial products. As of 31 December 2020, the Government of India owned 74.71% stake in the company.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)