Fertilisers and chemicals major Gujarat Narmada Valley
Fertilisers Co Ltd (GNFC) has posted its highest ever
results for the third quarter as well as nine months ended
December 31, 2004. Its nine-month net profit (PAT) of
Rs130.61 crore is 59 per cent higher than the corresponding
nine-month period of the previous year in fact,
it has surpassed the previous year''s entire PAT.
PBT (Rs86.96 crore) is 266 per cent higher than Q304
PAT (Rs56.02 crore) is 219 per cent higher than Q304
monthly PBT (Rs206.28 crore) is 64 per cent higher than
nine monthly PBT of FY04
monthly PAT (Rs130.61 crore) is 59 per cent higher than
nine-monthly PAT of FY04
PBT is higher than full year PBT of FY04 by 11.6 per
cent, PAT by 11.7 per cent
monthly sales were 16 per cent higher over the previous
income for nine months (Rs35.66 crore) was 8 per cent
cost for nine months (Rs12.32 crore) is 54 per cent
lower than previous period (FY04 full year interest
cost was Rs33.50 crore)
monthly EPS (Rs8.92) is higher than previous period
(Rs5.60; FY04 annual EPS was Rs7.98)
K Luke, managing director, GNFC, said that the 30 per
cent dividend declared in FY04 and the half-yearly results
for FY05 have been the highest in the history of the company.
This is noteworthy in view of the damage to property and
interruptions in business owing to an accident, affecting
a portion of the GNFC plants in October 2003. Reconstruction
was completed and the plants were commissioned in FY04
itself, under a very tight and demanding time schedule.
The financial results declared so far have absorbed almost
all major costs and impacts relating to this damage and
disruption, pending final settlement of insurance claim,
which is at an advanced stage. The insurance company has
so far disbursed Rs36.51 crore.
K Laheri, chairman, GNFC said that the company has already
planned capital outlays of Rs1,700 crore for revamp of
the existing plants
as well as for expanding capacity, which will boost the
turnover and earnings of the company in due course.