Zuari Agro slips on shutting NPK B plant in India

Zuari Agro Chemicals fell 3.72% to Rs 87.90 after the company said that its NPK-B plant has been shut down due to delay in the arrival of raw materials.

NPK stands for "nitrogen, phosphorus, and potassium," the three nutrients that compose complete fertilizers.

Zuari Agro Chemicals is the flagship company of Adventz Group and is engaged in the manufacture, sale and trading of fertilizers and seeds. The chemical firm is also an importer of fertilizers and farm nutrients. It produces fertilizers of various grades, along with seeds, pesticides, micro nutrients and specialty fertilizers.

On a consolidated basis, Zuari Agro Chemicals reported net loss of Rs 46.25 crore in Q3 December 2020 as compared to a net loss of Rs 118.50 crore in Q3 December 2019. Net sales rose 4.8% to Rs 927.41 crore in Q3 FY21 over Q3 FY20.

On a year-to-date (YTD) basis, the stock has declined by 11.30% while the benchmark Sensex added 2.30% during the same period.