Gujarat State Fertilizers & Chemicals to take up manufacturing of Calcium Nitrate

Date:10-12-2020

Gujarat State Fertilizers & Chemicals Limited (GSFC) is taking up manufacturing of Calcium Nitrate (CN) which is a promising water soluble fertilizer and is entirely imported as on date.

“With this, GSFC will become the first company in India to manufacture indigenous Calcium Nitrate under the ‘Aatmanirbhar Bharat Abhiyan’,” the company informed the exchanges on Monday.

Calcium Nitrate is used all across the country, mainly in Horticultural and field crops. India's annual requirement of this product is around 1,20,000 MT which is entirely imported (100%) with an import value of about Rs250cr in FY20.

GSFC is planning to commence the production with initial capacity of ~10,000 MTPA, expandable up to 15,000 MTPA. It is also likely to reach to 30,000 MT in next 12 months. This will add Rs20cr to the top line of the company with about 7% to 8 % addition in the Bottom line.

Gujarat State Fertilizers & Chemicals Ltd ended at Rs66.25, up by Rs2.2 or 3.43% from its previous closing of Rs64.05 on the BSE.