Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) reported a significant decline in profitability margins during the latest December 2023 quarter due to industry-wide disruption stemming from a change in government policy. The company’s operating margins crashed to 6-7% in the first 9 months of financial year 2023-24, down from 18% in the same period […]
India’s fertilizer industry is bracing for a potential squeeze on profitability in the coming months due to a combination of rising input costs and reductions in government subsidies based on declining international prices. According to industry analysts, prices of key inputs like ammonia, phosphoric acid, potassium and sulfur have rebounded strongly over the past two […]
Nagarjuna Fertilizers and Chemicals said it is facing working capital issues that are preventing it from operating its plant. “..the company had taken plant maintenance activities on July 4, 2018,” it said in a statement today. “The shutdown had to be extended due to inadequate working capital on account of Direct Benefit Transfer (DBT) and accumulated […]
Neem coating of urea, one of the key anti-diversion measures introduced by the Narendra Modi government to check the misuse of fertilizer urea by industries, seems to be paying off. According to the latest numbers, the Indian taxpayer saved about Rs 8,000 cr thanks to the move in the form of lower urea subsidy bill […]
The Indian government has no immediate plans or proposals to institute a scheme of ‘unversal basic income’ in place of the myriad social welfare scheme run by the country at present, the finance ministry said in response to a query. The clarification that there is ‘no proposal for a universal basic income scheme’ comes in […]
The spraying of urea, the most widely consumed fertilizer in India, with Neem oil is helping to increase the output of crops by about 10% on average, according to statistics produced by the food and agricultural ministry. The ministry found a 5.8% increase in paddy yield after the use of sprayed urea and increase of […]
