Gujarat State Fertilizers & Chemicals has executed an in-principle agreement (in the form of a non-binding term sheet) with the Government of the Republic of Congo.
The deal entails evaluating the possibility of establishing an ammonia-urea complex in Congo to enhance agriculture growth in that country.
Investors will closely monitor the development on this front. The company had posted a net profit of ₹61.17 crore on revenues of ₹1,150.13 crore for the December quarter.