Bharuch: Bharuch based fertilizers and chemicals company, Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) has reported PBT(Profit Before Tax) of Rs. 715 crore for the Financial Year ended March 31, 2017, which is higher by 167 % against PBT of Rs. 268 crore in the FY ended March 2016. Revenue from Operations during the year ended March 2017 was Rs. 4,945 crore, which is higher by 2 % over previous year. EBITDA margin for FY17 stood at 24 %, which is higher by 7% (17% in previous FY16). EPS stood at Rs. 34 for the FY17 which is higher by 209 % (Rs. 11 in previous FY16).

The Board of Directors have recommended dividend of Rs. 5 per share @ 50% for the year 16-17.

Elaborating on the results, Dr. Rajiv Kumar Gupta, IAS, Managing Director, GNFC said that this has been a year of many highest ever records on various fronts viz. (a) highest ever quarterly and yearly PBT (b) highest ever Exports (c) highest ever Term Debt repayments (d) highest ever dividend of Rs. 5 per share @ 50% (e) highest ever Market Capitalization (f) highest ever revenue and profit from IT Division. He further informed that IT business is set to grow substantially in the coming quarters.

Other Highlights for FY17:

– Company has initiated actions for setting up 2,00,000 MTPA di-calcium phosphate (DCP) project in a joint venture with Ecophos SA, Belgium.

– Company converted its township in Bharuch into 100% Cashless through adoption of required infrastructure and necessary training of all stakeholders.

– Company had approached Directorate General of Anti-Dumping and Allied Duties (DGAD) for imposition of anti-dumping duties on TDI (Toluene Di-Isocyanate) to restrict imports from China, Korea and Japan. DGAD has accepted Company’s proposal and has asked Finance Ministry to come out with notification on the same.

– During the quarter ended Dec 31, 2016, Company’s TDI-II plant at Dahej was shut down for 110 days on account of gas leakage. The plant was restarted after receiving necessary safety and security approval from Director of Industrial Safety & Health (DISH).