Page 6 - Fertilizers

2 entities offload Deepak Fertilisers shares for Rs 131 cr via open market

Two entities on Wednesday offloaded shares of Deepak Fertilisers and Petrochemicals for Rs 131 crore through open market transactions. The entities are SmallCap World Fund Inc and Anirudh Damani. According to the bulk deal data available with the NSE, SmallCap World Fund Inc sold 23,54,000 shares, amounting to 1.86 per cent stake in Deepak Fertilisers and Petrochemicals. Also, Damani disposed of 42,943 shares in the firm, as per the data. The shares were offloaded in the range of Rs 548.42-550.57 apiece, taking the transaction value to Rs 131.46 crore. Post the latest transaction, SmallCap World Fund's shareholding has been reduced to 3.08 per cent from 4.94 per cent (as per March 2023) equity in the firm. Meanwhile, Damani bought 8,70,743 shares at an average price of Rs 548.45 apiece of the company. On Wednesday, Deepak Fertilisers and Petrochemicals gained 1.56 per cent to close at Rs 568 per piece on the NSE.

RCF's contractor to pay Rs 173.72 crore for breakdown of two GTGs

Rashtriya Chemicals and Fertilizer (RCF) on Tuesday said it has won an arbitration award of Rs 173.72 crore from one of its contractors for the breakdown of two gas turbo generators (GTGs). The award was handed over by a single-member arbitral court which directed the contractor whose name was withheld by the company in an exchange filing. The contractor was also asked to repair and reinstate both the GTGs at the company's plant at their own cost under the defect liability clause. The arbitrator has also allowed RCF's claim for additional expenditure incurred on power and directed the contractor to pay Rs 173.72 crores with interest 10 per cent from the date of claim and a sum of Rs 95 lakhs as arbitration cost to the company.

India mulls issuing green ammonia tender to curb fertilizer emissions

Talks are taking place between fertilizer manufacturers and the country's renewable energy ministry to assess potential demand for the feedstock, Bhupinder Singh Bhalla, the dept's top bureaucrat said

Making efforts to set up chemical parks to meet domestic demand: Mandaviya

Chemicals and Fertilisers minister Mansukh Mandaviya on Wednesday stressed on the need to bring innovations in the chemicals sector and said the government is making efforts to set up chemical parks to meet a rising domestic demand. The minister was virtually addressing an international conference on Chemicals & Petrochemicals, organised by industry body CII in association with the Department of Chemicals and Petrochemicals, Ministry of Chemicals & Fertilizers. "To meet the rising domestic demand, the government of India is striving towards establishing the global state-of-art chemicals parks with all necessary plug and play facilities by providing a sustainable ecosystem to the industries," Mandaviya said. The chemical industry is a critical and integral part of growing Indian economy, he said, adding that there is an immense growth potential of this sector. Mandaviya highlighted the need to bring innovation across all the segments of the chemical and petrochemical industry ..

Subsidy Booster: GNFC, Chambal, GSFC eye up to 11% gain amid bullish bias

Major stocks in fertlizer sector continue to trade with bullish bias, as their chart structures denote feasible upside.

Cabinet approves Rs 38,000-cr subsidy for non-urea fertilisers this kharif

Centre likely to spend Rs 1.08 trn overall on subsidy this Kharif season

Fertiliser diversion: Govt cancels 112 licences, files 30 FIRs in 6 months

Seeking to curb the diversion of subsidised fertilisers for non-farming purposes, the government today said it has conducted a surprise inspection of 370 plants in the last six months and cancelled licences of 112 violating manufacturing units and registered 30 FIRs. According to the fertiliser ministry data, out of 370 units located in 15 states, the inspection was conducted in 220 mixture fertiliser units, 130 urea units, 15 SSP fertiliser units and 5 exporters. The maximum number of fertiliser units were inspected in Gujarat (92), followed by Kerala (54), Tamil Nadu (40) and Karnataka (39) during the last six months, the data showed. "There is a fertiliser crisis in the world. In such a situation, a subsidy of Rs 2,000-2500 per bag is being given to farmers in our country. Strict action will be taken against those engaged in diversion, be it distributors or users or outlets," Chemicals and Fertilisers Minister Mansukh Mandaviya told reporters. About 268 samples were taken from .

UPL's profit declines by 42% in March quarter as raw material costs surge

The Mumbai-based company's revenue from operations rose 4.5% to 165.69 billion rupees, with its Latin American operations raking in about 39% of the total revenue

IFFCO's net profit increases by 62% to record Rs 3,053 cr last fiscal

Cooperative major IFFCO, which sells conventional granular as well as nano (liquid) fertilisers, has reported 62 per cent increase in net profit to record Rs 3,052.73 crore for the last fiscal year on better income. Its profit stood at Rs 1,883.77 crore in the previous year. Total revenue also grew to Rs 60,324 crore in 2022-23 from Rs 40,171.67 crore in the previous year. "IFFCO has registered the highest ever Profit After Tax of Rs 3,053 crore along with the highest ever turnover of Rs 60,324 crore for FY22-23," IFFCO's MD U S Awasthi said. He attributed the record profit to better plant performance, efficient marketing channel, good support from the government and better management. On operational front, IFFCO reported the highest production of 95.61 lakh tonne last fiscal. It also achieved the highest production of nano fertilisers at 479.38 lakh bottles of 500 ml each. The company sold 128.07 lakh tonne of fertilisers in the last fiscal. The sale of nano fertilisers was at r

Amit Shah launches IFFCO's nano DAP fertiliser for commercial sale

Cooperation Minister Amit Shah on Wednesday exhorted farmers to maximise the use of liquid nano DAP and urea, saying extensive usage of these farm inputs will make India 'Atmanirbhar' in fertiliser production and reduce import dependence. Launching the IFFCO's nano (liquid) DAP fertiliser for commercial sale at Rs 600 per 500 ml bottle, less than half of the current price of conventional DAP (di-ammonium phosphate), the minister said the liquid farm inputs will help increase quality and quantity of agriculture production, and also help in conserving soil health. One bag of conventional DAP (50 kg) costs Rs 1,350. The benefits of using liquid fertilisers include soil conservation, higher crop yield, and easy transportation and storage, besides reducing import bills. Shah said 60 per cent of India's population is associated with agriculture and related activities and this "revolutionary development" will help the country become 'Atmanirbhar' (self-reliant) in the field of ...

Yara International looking aggressively at clean ammonia: Global CEO

In a Q&A, Svein Tore Holsether says his company is looking at more expansions in India as well

Urea imports to fall in FY23, 7.4 mn tonne imported till March 24: Govt

India has imported 74.86 lakh tonne of urea till March 24 and is set to register a year-on-year decline this fiscal. In a written reply to the Rajya Sabha, Minister of State for Chemicals and Fertilisers Bhagwanth Khuba shared the details of the import of urea in the last five years. As per the data, the country has imported 74.86 lakh tonnes up to March 24 of the current financial year. Urea imports stood at 91.36 lakh tonnes in 2021-22 fiscal, 98.28 lakh tonnes in 2020-21, 91.23 lakh tonnes in 2019-20 and 74.81 lakh tonnes in 2018-19. "It may be learnt from the above table that import of urea has increased from the year 2018-19 to 2020-21, however, it has decreased in the year 2021-22 and 2022-23," Khuba said. IFFCO commenced the commercial production of nano-liquid urea from August 1, 2021. Nano urea production stood at 290 lakh bottles (500 ml each) last fiscal and 452.11 lakh bottles up to March 21 this fiscal.

Coromandel International to enter into fertilisers, industrial chemicals

Coromandel International Ltd, which is into fertilisers and crop protection chemicals businesses, on Wednesday said it will diversify into speciality and industrial chemicals. Coromandel International is in the business of fertilisers, crop protection chemicals, bio-products, speciality nutrients, organic fertilisers and retail. In a statement, the company said that its Board approved a plan to expand its operations in crop protection chemicals and foray into Contract Development & Manufacturing Organisation (CDMO) business. The Board also approved the plan to diversify into new growth areas, namely speciality and industrial chemicals. "This is in line with the company's strategy to establish a sizeable presence in the crop protection chemicals business and leverage its deep technical capabilities and best-in-class infrastructure to enter into adjacencies like CDMO, speciality and industrial Chemicals," it added.

Govt sees no shortage of fertilisers, local output enough to meet demand

Chemicals and Fertilisers Minister Mansukh Mandaviya on Wednesday asserted that there will be no shortage of fertilisers in the upcoming kharif sowing season as the domestic production and stocks-in-hand will be sufficient to meet the local demand for soil nutrients. The minister said the country might not require to import urea from the spot market to meet Kharif (summer-sown) demand. Urea being imported under long-term supply agreements will come. However, he said, there will be some import of DAP (Di-Ammonium Phosphate) to meet the local demand. "There will be no shortage of fertilisers in the upcoming kharif season. The stocks that we will have at the start of next month and estimated domestic production between April and September of next fiscal will be sufficient to meet the projected requirement during Kharif season," Mandaviya told reporters here. He said the country will not need to import urea and NPK from spot markets. Mandaviya informed that the planning for fertiliser

IFFCO, Coromandel International to manufacture Nano DAP for 3 years: Govt

The government on Friday said fertiliser cooperative major IFFCO and state-owned Coal India Ltd (CIL) will manufacture Nano DAP for a period of three years. A notification in this regard was issued on March 2, Minister of State for Chemicals and Fertilisers Bhagwanth Khuba said in his written reply to the Lok Sabha. Di Ammonium Phosphate (DAP) is the second most widely consumed fertiliser after urea in the country. The minister further said IFFCO has informed that it is setting up a Nano DAP plant at its Kalol unit, Gujarat with a production capacity of 2 lakh bottles of 500 ml per day. "Nano DAP will be available in the market across the country after commencement of commercial production," he added. On its benefits, the minister shared that preliminary field trials were conducted by IFFCO and CIL on select crops in select institutes of Indian Council of Agricultural Research (ICAR). The report has indicated that with the use of Nano DAP as seed treatment and foliar application

Govt plans to shut down 2 plants of Hindustan Insecticides; cites losses

The government on Friday said it is planning to shut down the operation of state-owned Hindustan Insecticides Ltd's (HIL) two plants located in Kerala and Punjab due to losses incurred for the last several years. Minister of State for Chemicals and Fertilisers Bhagwanth Khuba, in his written reply to the Lok Sabha, said: "Yes Sir", when asked if the government proposes to close down the operation of Kerala and Punjab plants of HIL. He also said that the government is aware of the reports that the salaries of employees have not been disbursed for the last five months. To address this, the government has proposed the closure of the two units of HIL i.e Bathinda in Punjab and Udyogamandal in Kerala, he said. "Accordingly, a proposal seeking funds from the government has been made to cater to meet the expenditure arising on account of VRS/VSS and payment of balance dues of the employees of both units proposed for closure," he added. Khuba further said the two plants in Kerala and Punj

NITI Aayog proposes to make 'gaushalas' self-sustaining entities

The report says 73% of gaushalas sought support from individuals, and 50% didn't have a sustainable revenue model

India is not immune to the stagflation that felled its neighbours

Not much help is expected from the global economy. Financial conditions are tight almost everywhere, and demand tepid

Growth booster nano-DAP's production may kick off in Paradeep soon

The detailed production plan and other targets are being finalised

Fertiliser imports rose 3.9% to 1.9 mn metric tonnes in January: Govt data

The country's fertiliser imports rose by 3.9 per cent to 19.04 lakh tonnes in January this year compared to the year-ago period, according to the Fertiliser Ministry data. The country imported 18.33 lakh tonnes of fertilisers during January 2022. According to the latest data, of the total imports of 19.04 lakh tonne, 10.65 lakh tonnes of urea, 5.62 lakh tonnes of Di-ammonium Phosphate (DAP), 1.14 lakh tonnes of Muriate of Potash (MoP) and 1.63 lakh tonnes of complexes were imported. In the same month of the previous year, the country imported 12.48 lakh tonnes of urea, 2.45 lakh tonnes of DAP and 3.40 lakh tonnes of MoP. The quantity of MoP was for both agriculture and industrial use. The domestic fertiliser production during January this year also rose to 39.14 lakh tonnes when compared with 32.16 lakh tonnes in the year-ago period, the data showed. In the international market, there has been a falling trend in fertiliser prices. Urea prices (freight on board) showed a decline o