Comments
The public sector FACT has improved its performance by crossing one million mark in production, dispatch and sales of fertiliser by the first week of March.
The company, which is the oldest large-scale fertiliser manufacturer in the country, has crossed ‘seven digit’ production and sales mark after a gap of 19 years, a press release said.
FACT is on a turnaround path, breaking records in production and sales during the year. The company could record profitable operations during the third quarter (October – December ’19) with sales turnover of ₹817 crore and a net profit of ₹12.66 crore. It has restarted fertiliser trading operations with an import parcel of NPK 16:16:16.
It is now expanding its market base with a view to maximising sales and bringing more flexibility to address localised season failures by entering in Maharashtra and West Bengal markets. Action is already initiated for Gujrat and Odisha, the release said.
The trial run of Caprolactam production facility has been completed and actions have been initiated to restart the operations during the first quarter of 2020-21.
There are also plans to set up a new fertiliser plant with 5 lakh tonnes per annum capacity. With the implementation of the proposed additional capacity, the fertiliser production will rise to 15 lakh tonnes per annum level and the turnover would expected to reach ₹5,000 crore.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.