Public sector Fertilizers and Chemicals Travancore (FACT) registered a net profit of Rs 43 crore in the financial year 2008-09 after being in the red for a decade.
Sales turnover also crossed the Rs 2,000-crore mark for the first time in its 65-year history and touched Rs 2,100 crore in 2008-09, as against Rs 850 crore in the previous fiscal. The earlier highest turnover stood at Rs 1,450 crore.
The company is expected to wipe out the entire accumulated loss of Rs 390 crore within the next 3-4 years if it is able to stabilise the current growth trend in production and marketing.
During the year, FACT produced 723,761 tonne fertiliser, as against 521,691 tonne in 2007-08. Total sales, including imported fertilisers, stood at 830,000 tonne compared with 603,000 tonne. Sale of bulk gypsum touched an all-time high of 320,000 tonne as against 240,000 tonne in the preceding year.
FACT also launched gypsum-based load bearing building panels by joining hands with RCF of Mumbai. The commercial production of the product will begin by September. FACT will also set up a joint venture with the Central Warehousing Corporation (Concor) for starting container freight stations. The company has engaged IL&FS to examine the possibility of utilising the vast area of land effectively, according to a company release.
