National Fertilizers rallies after fertilizer sales rise 16% YoY in April-Aug 2020

National Fertilizers (NFL) jumped 4.40% to Rs 36.75 after the company's total fertilizer sales rose 16% to 23.81 lakh MT in April-August 2020 over 20.57 lakh MT in April-August 2019.

The company produced 16.11 lakh MT urea in the first five months of 2020-21, recording 13% jump against 14.26 lakh MT produced during the same period in 2019-20. The announcement was made after market hours yesterday, 10 September 2020.

On a consolidated basis, NFL reported net loss of Rs 248.65 crore in Q3 December 2019 compared with a net profit of Rs 77.85 crore in Q3 December 2018. Net sales declined 3.8% to Rs 3,014.43 crore in Q3 December 2019 over Q3 December 2018.

NFL is engaged in producing and marketing urea, neem coated urea, bio-fertilizers (solid and liquid) and other allied industrial products. As of 30 June 2020, the Government of India owned 74.71% stake in the company.

The stock surged 145% from its 52-week low of Rs 15 hit on 24 March 2020.