Filings Update and Understanding
1- Update
MCNL a wholly owned subsidiary has entered into a licensing agreement with one of leading domestic fertiliser manufacturer for producing Nano Urea (Liquid) Fertilizer by using their domestically developed patented Technology.
MNCL is expected to commence the commercial production by Q4 FY24. MNCL projects to achieve a top line of INR 1,000 crores on an annual basis.
2-Understanding on How is Nano Urea Different as Learned from Internet
On an average, a farmer in India applies two bags of urea in one acre per crop season, with the quantity varying slightly according to the crop. According to a press note from IFFCO, field trials have shown that a 500 ml bottle of nano urea can replace one bag of conventional urea as it has 40,000 ppm of nitrogen, which is equivalent nitrogen nutrient provided by one bag of conventional urea.
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