The Shares of the leading fertilizers and chemicals manufacturing company gained 5 percent to Rs 113.65 apiece on Thursday after it Received Clearance from the Ministry of Environment to set up a nano-urea plant.
At 2:40 p.m., On the National Stock Exchange, Rashtriya Chemicals and Fertilisers Ltd shares were trading at Rs 110.90 a share, up Rs 3.15 or 2.92 percent from the previous close price. The company has a market capitalization of Rs 6,126 crore.
According to the company’s exchange filing, the company received prior environmental clearance from the Ministry of Environment, Forest and Climate Change, IA division, for the project to build New Nano-Urea Fertiliser Plant with a total capacity of 27,375 KL/annum at RCF Trombay Unit Industrial Area, Chembur, Suburban Mumbai.
Revenue of Rashtriya Chemicals and Fertilisers declined by 18 percent year over year to Rs 4,042 crore in Q1FY24 from Rs 4,956 crore in the same quarter of the prior year (Q1FY23), while net profit declined by 77 percent to Rs 67 crore from Rs 295 crore.
The company’s Profitability ratios are in a better position, with return on capital employed at 22.93 percent, its return on equity at 21.05 percent, and the firm has had a debt-to-equity ratio of 0.41.
According to the recent shareholding pattern, the promoters own 75 percent of the company, while foreign institutional investors hold 2.27 percent and retail investors hold 22.37 percent.
Rashtriya Chemicals & Fertilisers is engaged in the manufacturing and marketing of fertilizers and industrial chemicals.
Written by Omkar Chitnis
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