Indo Gulf Fertilisers to shutdown urea plant for maintenance

Indo Gulf Fertilisers, a business unit of Aditya Birla Nuvo Ltd, has announced a 35-day maintenance shutdown for its urea plant starting from the first week of March 2014 for energy saving and debottlenecking project. Aditya Birla Nuvo Ltd has informed BSE that there will be a maintenance shutdown of the urea plant at Jagdishpur (Uttar Pradesh) for around 35 days commencing from the first week of March 2014.
 
For the third quarter of 2013-14, Indo Gulf Fertilisers’ revenue was down by 29% to Rs 754 crore compared to Rs 1,065 crore during same period last year. The revenue from its trading business saw a sharp decline of 55% to Rs 142 crore in the quarter ending December 2013 from Rs 542 crore in Q3 2012-13. The company attributed this decline to discontinuance of trading in imported P&K fertilisers. However, Indo Gulf Fertilisers’ revenue from manufacturing operations grew by 17% to Rs 613 crore owing to rise in natural gas prices which is pass through.