GNFC achieves another milestone

After giving best ever profit before tax (715 cr) during the financial year ending on 31st March, 2017; Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) has achieved another milestone by registering highest ever market cap of over 5200 crores. This is the story of complete turnaround in a public sector fertiliser, chemical and petrochemical company which suffered a major loss of 453 crores just two years back due to cost and time over run in an old project. And the market has responded very positively to this turn around by registering highest ever share price of Rs 337 on 5th September, 2017. GNFC share has been one of the 22 shares most preferred by mutual funds during last one year. Foreign funds like Fidelity Puritan Trust Singapore, Florida Retirement System, City of New York Group Trust, Washington Investment Board, Oregon Public Employees Retirement System have heavily invested in GNFC equity which is a sign of extraordinary performance of the company in last two years. Dr Rajiv Kumar Gupta, Managing Director, GNFC informed that due to consistently increasing EBITDA margins, healthy capacity utilisation and strong corporate governance ICRA recently upgraded rating of GNFC from AA-(DOUBLE A MINUS) to AA(DOUBLE AA)