NFL achieves its best ever financial results in FY19
New Delhi: Riding on the Highest-ever Total Fertilizer Sale and Urea production, NFL has reported a profit (PBT) of Rs 463 crore in 2018-19, which is highest ever in the history of the company.
The profit after tax (PAT) of the company also rose to Rs.298 crore during the period, up by 40 per cent from Rs.213 crore in previous year. The total income of company soared to a new level of Rs. 12,245 crore from Rs. 8,954 crore in 2017-18. This year, 20 per cent of turnover was contributed by non-urea products (other than manufactured urea) as against 15 per cent in 2017-18.
During the year, the Company recorded highest-ever Urea production of 38.59 Lakh MT with a capacity utilization of 119 per cent which accounts for 16 per cent share of the total Urea production in the country.
The total fertilizer sale of the company, comprising of urea and other fertilizers, also reached highest ever level at 48.95 Lakh MT, a jump of more than 14 per cent over the previous year. Out of this, company recorded a sale of 42.68 Lakh MT of its core product, Urea.
A significant booster to this year's fertilizer sale remained the biggest ever share of complex fertilizers like DAP and NPKS where a quantum jump of 152 per cent was reported at 9.89 Lakh MT compared to 3.93 Lakh MT in 2017-18.
The finest financial performance of the company during the year could be possible through sustained & energy efficient operation of its plants and undertaking several strategic initiatives in last three years such as import of fertilizers on larger scale, commencement of Seeds Multiplication Program, trading of agrochemicals of different molecules under company's own brand and commissioning of Bentonite Sulphur Plant at Panipat Unit.
All these initiatives enabled the company to change its outlook from single product to a multi-product company.
NFL, currently operates five natural gas based Urea Plants, located at Nangal, Bathinda in Punjab, Panipat in Haryana and two State-of-the-Art plants at Vijaipur in M.P with a urea production capacity of 35.68 Lakh MT. The company is soon going to commission a state of the art Urea plant at Ramagundam in Telangana with an annual capacity of 13 Lakh MT in a Joint Venture with EIL and FCIL.