Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) has registered total income of Rs.1553.04 crores during the period ended December 31, 2020 as compared to Rs.1226.54 crores during the period ended September 30, 2020.

The company reported total income of Rs.1312.77 crores during the period ended December 31, 2019.

GNFC has posted net profit of Rs.242.59 crores for the period ended December 31, 2020 as against net profit of Rs.140.86 crores for the period ended September 30, 2020 and net profit of Rs.113.49 crores for the period ended December 31, 2019.

For the 9 months period ended December 31, 2020, GNFC has reported total income of Rs.3583.71 crores as compared to Rs.3930.33 crores during the 9 months period ended December 31, 2019.

The company has posted net profit of Rs.386.42 crores for the 9 months period ended December 31, 2020 as against net profit of Rs.268 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.24.86 for the 9 months period ended December 31, 2020 as compared to Rs.17.24 for the 9 months period ended December 31, 2019.

Commenting on the performance, Pankaj Joshi, Managing Director , GNFC,  said: "Volume of some of the chemicals as well as sharp price improvements in few chemicals have led to improved profitability in spite of revenue from operation drop of around 11% on YTD basis.

He further elaborated that as against around 27% and 18% increase in total income over Q2 FY 21 and Q3 FY 20, the PBT has gone up by around 111% and 152% respectively. Levels of production and sales improved over last two quarters. Increase in the input cost is far offset by better realizations. Company is out of MAT and now under normal tax regime.

With import trade restrictions on China by countries like USA and others coupled with COVID-19 fears, the developed countries are looking at alternative supplier based where India is likely to gain further. Closure of plants in the EU and China due to increasing environmental concerns have favoured Indian manufacturers to invest further in specialty chemicals.

Chemicals Segment has done well mainly due to volume uptick over the first two quarters of FY 21. As compared to Q2, the levels of production have increased practically everywhere. Whereas as compared to Q3 of corresponding year, the fertilizer production is down mainly due to operational issues faced.

Under Atma Nirbhar Bharat, there are projects worth around Rs.1200 crores under consideration which are at advanced stage of examination. The products being looked at currently are extensions of existing products where Market Survey is being carried out and based on examination, further CAPEX commitment is expected to be done.

Company's liquidity has improved and is going to further improve in view of release of subsidy with additional allocation of budget to the tune of RS. 65,000 Crores by Government of India.

With sustained efforts, Anti-Dumping Duty has been levied freshly on Aniline as well as in respect of import from new geographical in case of TDI. This will help improve margins.