A TALE OF TWO CORPORATES
Article Abstract:
The 2 fertiliser firms of Gujarat - the Gujarat Narmada Fertilisers Corporation (GNFC) and the Gujarat State Fertilisers Corporation (GSFC) - will not be affected much by the additional 8 percent customs duty imposed by the Government of India. GNFC will benefit by the 10 percent increase in import duty on methanol and the overall 8 percent hike in import duty. For both the companies, the rise in farmgate prices of urea by Rs500 a tonne will have positive effect. Both the complex fertilisers of GNFC and phosphatic fertilisers of GSFC will grow due to the narrowing down of the price difference between phosphatic/complex and nitrogenous fertilisers. GSFC will find it difficult to manage the situation with the price of 10 percent slash in import duty, as it produces plenty of caprolactum, which is usually driven by its international price. Hence, its profit margin may be hit. (gs)
Comment:
Will not be affected much by the additional 8% customs duty imposed by the Government of India
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
GSFC REGISTERS 8% DECLINE IN NET PROFIT
Article Abstract:
Gujarat State Fertilisers and Chemicals (GSFC) has reported a 8 percent drop in net profit to Rs170 crore for 1997-98 (Rs186 crore in 1996-97). Gujarat State Fertilisers and Chemicals' sales turnover was Rs1,999 crore (Rs1,893 crore). Other income of Gujarat State Fertilisers and Chemicals was Rs69 crore (Rs49 crore). Interest cost was Rs116 crore. The company has declared a 45 percent dividend for the year. (gs)
Comment:
Reports 8% drop in net profit to Rs170 crore for 1997-98 compared to Rs186 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic: