GNFC registers highest ever profit, turnover and exports in FY 2017-18

Gandhinagar: In its 42 years of history, Gujarat government promoted leading Public Sector Unit Gujarat Narmada-valley Fertilizers and Chemicals(GNFC) has registered highest profit, turnover and exports in financial year 2017-18.

Elaborating on the results, Dr. Rajiv Kumar Gupta, IAS, Managing Director mentioned that this performance of GNFC is the best ever in its 42 years history. With improved financial performance, long term debt has been fully paid off as of that by making the prepayment of Rs. 534 crore. These measures reduced the finance cost of the company by 51% Y-o-Y. The growth in revenue and profits are significantly led by non-TDI chemicals, both in terms of revenue and profits.

Commenting further he said, most of the plants performed well. For TDI the combined capacity utilisation stood at 93% during the year as against 73% last year. Also during the year Aniline, Ethyl Acetate, Formic Acid and Technical Grade Urea have also recorded highest production. The realisation in Acetic Acid, Formic Acid and Ethyl Acetate were the highest in the last 6 years.

Highlights of the annual results of financial year 2017-18

– Highest Ever PBT of Rs. 1,162 crore: (63% higher than the previous highest of Rs. 715 crore registered during the previous financial year.)

– Highest Ever PAT of Rs. 790 crore: (51% higher than the previous highest of Rs. 521 crore registered during the previous financial year.)

– Highest Ever EBITDA of Rs. 1,532 crore: (31% higher than the previous highest of Rs. 1,170 crore registered during the previous financial year.)

– Highest Ever Turnover of Rs. 6,058 crore: (17% higher than the Rs. 5,170 crore registered during the previous financial year.)

– Highest Ever EPS of Rs. 50.80: (51% higher than the previous highest of Rs. 33.54 registered during the previous financial year.)

– Highest Ever Dividend of 75%.

– Highest Ever Exports of Rs. 629 crore: (74% higher than the Rs. 361 registered during the previous financial year.)

– Highest ever prepayment of Long Term Debt of Rs. 534 crore.

– Highest ever Long Term Debt extinction of Rs. 888 crore. Long term debt level reduced by 100% from 2,180 crore in 2013-14 to Rs. Nil as of date. Rs. 1,436 crore of total debt paid off in one single year.

– GNFC is now a Long Term Debt Free company.

– It is very significant to note that the PBT of Rs. 1,162 crores recorded by GNFC is the highest ever yearly PBT recorded by any Government of Gujarat Company on standalone basis.

Standalone Financial Highlights for Quarter &Twelve Months ended 31.03.2018

 

Particulars Q417-18 Q4 16-17 % Growth FY17-18 FY 16-17 % Growth
Revenue from Operations 1,764 1,314 34% 5,917 4,945 20%
EBITDA 522 417 25% 1,532 1,170 31%
EBITDA Margin 30% 32%   26% 24%  
Profit Before Tax 441 314 41% 1,162 715 63%
Profit After Tax 329 238 38% 790 521 51%
EPS (in Rs.) 21.17 15.34 38% 50.80 33.54 51%

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