Complex fertilizer maker Paradeep Phosphates Limited (PPL) sees its revenue growing at 15 per cent in the current fiscal riding on projected higher demand for fertilizer.
“The good monsoon across the country has kindled the hope for spurt in demand for fertilizer and we hope to increase our sales revenue by introducing new products and selling more imported products, besides our own fertilizers,” said Sharad S. Nandurdikar, managing director of PPL.
In 2010-11, the company sales revenue stood at Rs 3,630.64 crore, 15.2 percent higher than previous fiscal. Profit after tax rose by 17 per cent to Rs 177.55 crore.
Nandurdikar said, the company managed to maintain its profitability by selling higher volume of imported products. There was fall in production in the company’s own manufacturing unit due to problems in raw material supply.
In last fiscal, the company produced 1.17 million tonne Di-Ammonium Phosphates (DAP) and complexes, lower than 1.2 million tonne produced in the previous year. However, it sold 118,000 tonne of imported Muriate of Potash (MOP) and 160,000 tonne of DAP, up from 110,000 tonne and 113,000 tonne respectively in 2009-10.
"We are also planning to produce water soluble fertilizers this year. We will start with limited quantity and raise the production depending on the market demand,” Nandurdikar said.