IBEF: March 09, 2020
The public sector FACT witnessed improved performance by crossing one million mark in production, dispatch and sales of fertiliser by the first week of March.
A press release said that the oldest large-scale fertiliser manufacturer in India has crossed ‘seven digit’ production and sales mark after a gap of 19 years.
Breaking records in production and sales during the year shows that the public sector FACT is on a turnaround path. The company could record profitable operations during the third quarter (October – December 2019) with sales turnover of Rs 817 crore (US$ 116.90 million) and a net profit of Rs 12.66 crore (US$ 1.81 million). It has restarted fertiliser trading operations with an import parcel of NPK 16:16:16.
The company is now expanding its market base with a view to maximise its sales and to bring more flexibility to address localised season failures by entering in Maharashtra and West Bengal markets. The release also mentioned that the action is already initiated for Gujrat and Odisha.
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 tonne per annum capacity. The fertiliser production, with the implementation of the proposed additional capacity, will reach 15 lakh tonne per annum level and the turnover is anticipated to reach Rs 5,000 crore (US$ 715.41 million).
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.