Fertiliser Firms

RCFL Q1 results: Net profit down 84% at Rs 11 cr on higher finance cost

State-owned Rashtriya Chemicals and Fertilizers Ltd (RCFL) on Monday posted 84 per cent fall in consolidated net profit at Rs 10.80 crore for the first quarter of 2024-25 on higher finance cost. Net profit stood at Rs 67.79 crore in the same quarter previous year, according to a regulatory filing. Total income increased to Rs 4,396.06 crore from Rs 4,042.95 crore in the year-ago period. Expenses rose to Rs 4,409.93 crore from Rs 4,009.02 crore. RCFL said the government has reduced rates of Nutrient Based Subsidy (NBS) since October 1, 2023, which has adversely impacted profitability of phosphatic and potassic fertilizers. Shares of the company on Monday settled down 1.40 per cent at Rs 200.35 apiece on the BSE.

GST Council likely to mull on online gaming, reduce tax on fertiliser

The GST Council, in its meeting on Saturday, is likely to deliberate on various issues, including taxation on online gaming and the Parliamentary standing committee's recommendation for lowering tax on fertiliser, according to sources. The 53rd meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising her state counterparts, is also likely to discuss the progress of the Group of Ministers (GoM) on finalising the report on Goods and Service Tax (GST) rate rationalisation and amendments to GST laws based on previous decisions of the council. The council may also discuss the recommendations made by the Standing Committee on Chemicals and Fertilisers in February to reduce GST on nutrients and raw materials in the interest of fertiliser manufacturing companies and farmers. Currently, GST at a 5 per cent rate is charged on fertilisers, while raw materials like Sulphuric Acid and Ammonia face a higher GST at 18 per cent. The issue of further reduce ta

GNFC slips 3% on weak March quarter performance; check details here

GNFC's revenue from operations slipped a little over 7 per cent to Rs 2,110 crore in Q4FY24, as opposed to Rs 2,271 crore a year ago (Q4FY23)

Iffco to buy 200,000 tonne ammonia produced using green energy from ACME

Cooperative fertiliser major IFFCO will buy from ACME Cleantech Solutions about 2 lakh tonne of ammonia manufactured via renewable energy. In a statement on Friday, IFFCO said it has signed a memorandum of understanding (MoU) with renewable energy company ACME for supply of commercial grade ammonia. Ammonia will be produced at ACME's plant in Gopalpur, Odisha using renewable energy and supply the same to Indian Farmers Fertiliser Cooperative Limited (IFFCO), it said. Ammonia is an important base material for fertilisers. "IFFCO signed an MoU with ACME Cleantech Solutions for the purchase and supply of about 2,00,000 tonne ammonia made through renewable energy route," IFFCO said. The cooperative said it will use the ammonia supplied by ACME for manufacturing complex fertilisers at Paradeep unit in Odisha and Kandla unit in Gujarat. It also mentioned that ACME would retain a green credit and trade in the form of ITMO (Internationally Transferred Mitigation Outcomes) with other ...

Nano DAP to bring down fertiliser subsidy bills, says industry body

Finance Minister Nirmala Sitharaman announced the expansion of Nano DAP application across various crops in all agro-climatic zones on Thursday

State govt will bear medical expenses of those affected in Ennore gas leak

According to DIG, Joint Commissioner Avadi, Vijayakumar, "There are no more gas (ammonia) leaks at Ennore. People are back home. Medical and police teams are present at the spot"

Govt launches flying squads to prevent illegal diversion of agri-grade urea

In the course of their inspections, the squads have registered 30 FIRs for illegal diversion of urea, confiscating 70,000 bags in the process

Govt seeks approval for Rs 4.36 trillion additional spending in FY23

Fertiliser, food subsidies, payments to OMCs for LPG dominated supplementary demand

Centre tells fertiliser companies, states to promote Nano urea use

At present, the capacity of Nano urea is 50 million bottles per year

Govt plans pilots on new direct benefit transfer model for fertilisers

Currently, the version of DBT in fertilisers involves farmers purchasing their fertilisers through point of sale (PoS) devices after undergoing Aadhaar authentication

Rajasthan govt takes action to prevent black marketing of fertilisers

Agriculture Commi­ssioner Kana Ram said teams formed to check illegal activities at the level of agriculture commissionerate had been sent to districts.

Three fertilizer firms sign MoU with Canada's Canpotex to import potash

Coromandel International, Chambal Fertilizers and Indian Potash Ltd have signed a pact with Canada-based Canpotex for the import of 15 lakh tonnes of potash annually for three years, according to the Ministry of Chemicals and Fertilizers. Canpotex, Canada is amongst the largest suppliers of Potash globally, exporting around 130 lakh tonnes of product annually. Potash, which is a source of potassium, is used both for direct application as MOP (Muriate of Potash) as well as in combination with 'N' & 'P' nutrients in NPK fertilizers. India meets 100 per cent of its potash requirement through imports. The country imports approximately 40 lakh tonnes of MOP annually. The Memorandum of Understanding (MoU) was presented to Chemicals and Fertilizers Minister Mansukh Mandaviya on Wednesday, an official statement said. "In a significant step towards ensuring long-term fertilizer availability for the farming community, India's fertilizer companies - Coromandel International, Chambal ...

Divestment drive: Govt looks to privatise PSUs in fertiliser sector

According to the PSE policy, 2021, the government will look at leaving non-strategic sectors, such as fertiliser, steel and tourism, by privatising or closing PSUs

Will 'one nation one fertiliser' lead to uniformity or anonymity?

Under 'One Nation One Fertiliser' all fertiliser bags, irrespective of their contents or the company that manufactures them, will carry a uniform brand name called "Bharat"

After dung, Chhattisgarh's Congress govt to use cow urine as fertiliser

About two months ago, Chief Minister Baghel had envisaged using cow urine for strengthening the rural economy and organic farming

Fertiliser stocks ride high on subsidy hike: Here're the top gainers

Analysts say the hike in DAP subsidy will have a positive rub-off on fertiliser and agri-input companies

Spike in fertiliser sales boosts prospects for Coromandel International

While rabi season drives hopes of a strong Q3, analysts are hopeful of strong growth over the next two years

Govt move to clear fertiliser firms' subsidy arrears gets tepid response

Combined market capitalisation of 10 fertiliser companies up 10% in Nov, against 12% rise in Sensex

India to be self-reliant in fertilisers production by 2023: Gowda

Currently, the fertiliser production of the country is 42-45 million tonnes, and imports are at around 18 million tonnes, according to the official data

Budget 2020: Govt may cut import duty on raw material for fertiliser sector

During April-December 2019-20, the country's crude and manufactured fertiliser imports grew by 8.47 per cent to USD 6.2 billion.