OSWAL CHEMICALS AND FERTILISERS - BITING MORE THAN IT CAN CHEW
Article Abstract:
Oswal Chemicals & Fertilisers Ltd (OCFL) plans to increase its sales from Rs743.61 crore to Rs5,000 crore by 2002 AD. It proposes to establish a 1.92 million tonnes per annum phosphoric fertiliser complex at Paradeep port in Orissa at a cost of Rs1,830 crore. The unit will have a phosphoric acid plant of 2,650 tonnes per day (tpd) capacity, an NPK/DAP (di-ammonium phosphate) plant of 6,270 tpd capacity, an ammonia plant of 1,350 tpd capacity for captive consumption and a 110 mw captive power plant. The project has a debt-equity ratio of 2:1. Commercial production is expected to begin from September 1999. OCFL also plans to set up another ammonia/urea complex of 2.1 tonnes per annum (tpa) at Talcher in Orissa. The project is estimated to cost Rs5,150 crore. It plans an investment of Rs7,030 crore in the next 5 years. (uh) ------------------------------------------------------------ Financial results of Oswal Chemicals and Fertilisers Ltd ------------------------------------------------------------ Particulars 1997-98 1996-97 (Rs in crore) ------------------------------------------------------------ Sales 743.61 683.45 ------------------------------------------------------------ Gross profit 383.60 342.32 ------------------------------------------------------------ Depreciation 187.68 202.51 ------------------------------------------------------------ Interest 95.82 101.75 ------------------------------------------------------------ Tax 4.28 - ------------------------------------------------------------ Net profit 95.82 38.06 ------------------------------------------------------------ Equity 227.41 227.41 ------------------------------------------------------------ EPS (Rs) 4.21 1.67 ------------------------------------------------------------ Book value (Rs) 31.08 32.30 ------------------------------------------------------------
Comment:
Plans to increase its sales from Rs743.61 crore to Rs5,000 crore by year 2002
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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GUJARAT NARMADA VALLEY FERTILIZERS CORPORATION - NOT NOURISHED WELL
Article Abstract:
The Gujarat Narmada Valley Fertilisers Corporation (GNFC) produces fertilisers, mainly urea. Its net profit has fallen from 95.33 crore in 1995-96 to Rs68.97 crore in 1997-98. The value of its investments of Rs127.52 crore in quoted shares has fallen to Rs71.63 crore. The investments account for 81.04 percent of its recorded profit. GNFC's loan of Rs40.82 crore to its subsidiary, Gujarat Narmada Auto (GNA), may not be recovered as it is under liquidation. The subsidy on urea has been increased by 50 percent in the last 2 years. GNFC produces methanol too. The price of methanol at $195 per tonne in August 1997 slumped to $99 in August 1998 globally. Its acetic acid accounts for Rs136.01 crore of the total sales turnover. The price of acetic acid has fallen from US$530 per tonne in August 1997 to US$360 per tonne globally. The other divisions of GNFC - the Digital Switching System and Printed Circuit Boards division - have no synergy with its core competence. The Gujarat Government is to divest its stake in GNFC. (uh)
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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DEEPAK FERTILIZERS AND PETROCHEMICALS CORPORATION: NOT ON THE RIGHT TRACK
Article Abstract:
Deepak Fertilizers and Chemicals Corporation Ltd posted a net profit of Rs51.15 crore on a turnover of Rs405.13 crore in 1997- 98. The sales turnover included trading operations of Rs65.73 crore compared to Rs4.42 crore in 1996-97. Its other income has almost doubled to Rs9.07 crore in 1997-98 from Rs5.29 crore in 1996-97. The company has reported a net profit of Rs10.37 crore on sales of Rs96.03 crore in the first quarter of 1998-99. Financial institutions (FIs) have rejected a proposal by the company's promoters to sell 50 percent of the FI-owned equity at Rs15 per share. (khr)
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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