Fertilizers company Gujarat Narmada Valley Fertilizers & Chemicals announced Q2FY25 results Operating Revenue: Rs 1,917 crore compared to Rs 2,080 crore during Q2FY24. EBITDA: Rs 90 crore compared to Rs 169 crore during Q2FY24. EBITDA Margin: 5% for Q2FY25. PBT: Rs 135 crore compared to Rs 242 crore during Q2FY24. PAT: Rs 102 crore compared to Rs 178 crore during Q2FY24. Pankaj Joshi, IAS, Managing Director, GNFC, said: During the Q-2, there has been mixed sales pattern i.e. fertilizer sales improved whereas chemicals sales was to be held back mainly due to annual turn around at TDI Dahej plant. Chemicals in general has been facing realisation pressure impacting both the revenue as well as operating profit. Due to a good combination of products, the company has remained resilient to such external market conditions which should, going forward, improve the overall results by increase in volume as well as better than before price realisations. During the quarter under review, prices of major inputs remain stable except coal. Production at Dahej complex has resumed at full capacity effective October-24. Result PDF
Fertilizers company Gujarat Narmada Valley Fertilizers & Chemicals announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Operating revenue: Rs 2,110 crore Total revenue: Rs 2,218 crore Operating EBITDA: Rs 145 crore EBITDA %: 7% Profit before tax (PBT): Rs 171 crore Profit after tax (PAT): Rs 127 crore FY24 Financial Highlights: Operating revenue: Rs 7,930 crore Total revenue: Rs 8,399 crore Operating EBITDA: Rs 503 crore EBITDA %: 7% Profit before tax (PBT): Rs 651 crore Profit after tax (PAT): Rs 485 crore Pankaj Joshi, IAS, Managing Director, GNFC explained that: The financial performance during Q4FY24 witnessed improved revenue attributable to chemical segment which improved by ~13% driven by both increased volume as well as price realisations. This improvement is, to a large extent, offset by decrease in fertilizer segment where volumes are down and in case of complex fertilizer which is not a pass through mechanism, it affected realisations as well as margins as well due to downward revision of subsidy. On a YoY Q4, chemical segment is strongly affected mainly driven by lower realisations which has pervasive margin shrink effect. Fertilizers segment improved in volume but witnessed erosion in margin as a result of continuously lowering of nutrient based subsidy. On a YoY full year basis, both, the bulk chemicals as well as complex fertilizers have witnessed substantial dents in realisation and margin as the cycle has turned from sellers to buyers’ market. The results for full year is not fully comparable in view of the annual shutdown during the period which limited the availability of saleable volume. During the current financial year, Dahej operations of TDI has been stable with increased volume which has improved the operating results. It achieved highest ever production of ~53 TMT against the plant’s rated capacity of 50 TMT. The Concentrated Nitric Acid (CNA-IV) plant which became operational during the year achieved ~90% capacity utilisation in its first year of operation During the FY 23-24, two important developments took place (a) Employee Wage Settlement (b) Equity Share Buyback worth ~Rs 802 crores including income tax. The Board of Directors at its meeting held on 28th May 2024 has recommended dividend of Rs16.50 per share (i.e. 165%) Result PDF