| – | During FY 22-23, GNFC has crossed over a billion USS worth of import substitution saving precious foreign exchange to the country and becoming active contributor to ‘Make in India’ initiative of Government of India. |
|---|---|
| – | During the year, new formic acid revamp project has been commissioned with 20 MTPD additional capacity. |
| – | Price levels of energy related inputs saw elevated price levels. |
| – | The Bharuch complex underwent annual shutdown from last week of March-23, which had some volume related impacts in Q-4 apart from wage revision accruals on Y-o-Y basis. In spite of these factors, the top line has improved to historical highest, whereas on absolute basis, the full year profit before tax is the second highest ever at 1,932 Crores in its history. |
| – | Revenue is driven by price realizations which are offset by offset by input costs. Input costs have been tapering off since Q4 so should see a reduction from Q1. |
| – | 100% capacity utilization in most plants. |
| – | Profitable operations supported by subsidy release support from GOI has helped improve the cash cycle. |
| – | Ammonium nitrate demand is growing around 6% per annum and is expected to remain consistent. Ammonium nitrate contributed 20% to the turnover of the chemical sector last year. |
| – | Buyback is not currently on the books but will consider at an appropriate time. |
| Capex Plans: The company has committed around INR 600 plus crores of investment in the Formic acid revamp plan and coal-based power plant. The company plans to put INR 2,000 crores of capex within the next 3 years, with a potential increase in turnover of INR 1,000 crores if polycarbonate is considered. The green hydrogen project is under bidding and waiting for regulatory support before making a final investment decision. |
| Subscribe To Our Free Newsletter |
