The annual revenue of Chambal Fertilisers and Chemicals has increased by 21% YoY to reach Rs. 12,206 crore whereas annual profit is up 125% YoY to reach Rs. 1,224 crore. 

 

Net profit for the year was at Rs. 1,224 crore, including one time deferred tax credit due to promulgation of Taxation Laws (Amendment) Act, 2019. If it is excluded, net profit will be Rs. 880.34 crore up by 61.45% as against the net profit of Rs. 545.27 crore in the last year.

 

Anil Kapoor, Managing Director, Chambal Fertilisers and Chemicals said, “I am very happy to state that the company’s performance for the FY2019-20 has been outstanding as compared to the last year and the best ever in the history of the company. Further, our newly commissioned urea plant achieved the rated capacity during the first full year of operation.

 

"Towards the end of the last quarter, the company faced the challenge of COVID-19 Pandemic. The company’s first priority has been towards the safety, health and well-being of all its employees. The next priority was to continue operations of all the three urea plants. Since we took many pro-active steps before and after the lock down to keep all the critical employees within our factory premises, we were able to keep the plants running. We are also happy to report that till date all operations have been normal," commented Kapoor. 

 

During last year, the government met the long pending demand of the urea industry by approving additional fixed cost of Rs. 350 per MT of urea. Although not sufficient enough, the increase does mitigate some of the concerns of the industry. The effect of the increase has been accounted in the last quarter of the FY2019-20.

 

"Farming sector is likely to get a boost this year, with the forecast of good monsoon. All our urea plants are operating normally during lockdown period. Going forward, we expect production in all our plants to be normal. The highest level of safety protocols and safe distancing norms are being ensured at all our plants. The demand of the products is looking encouraging and we are comfortable on the logistics side also. Since we have kept the work force engaged during lock down period and took proper care of them, we do not foresee any challenge in terms of availability of manpower," added Kapoor.