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 Gujarat State Fertilizers and Chemicals

52 Week High is Rs. 118 and this is the lowest price. 

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Gujarat State Fertilizers & Chemicals Limited (GSFC) is an Indian manufacturer of fertilizers and Industrial Chemicals. GSFC was founded in 1962. Oil and gas discoveries in Bombay High and South Basin triggered the birth of 8 new generation fertilizer plants to fulfill the growing food needs of India.

The company is listed on the Bombay Stock Exchange with the Security Code 500690, and as at Monday 28 September 2014 it had a market capitalisation of Rs 3,030.42 crore.[1] GSFC maintains its headquarters in Vadodara in the state of Gujarat, on the Vadodara-Ahmedabad National Highway.[2] It manufacturers plastics, nylons, fibers, industrial gases and varied chemicals including urea, ammonia, ammonium sulfate, sulfuric acid, phosphoric acid & diammonium phosphate, Caprolactam, Malemine, Methanol.[3]

In 1976, GSFC entered into a joint venture with the State Government of Gujarat by setting up a plant in Bharuch which trades as Gujarat Narmada Valley Fertilizers & Chemicals Limited.

GSFC’s product range includes fertilizer products (manufacturing) like Di-Ammonium Phosphate (DAP), Urea, AS, Ammonium Phosphate Sulphate (APS) and industrial chemical products like Caprolactam, Nylon-6 (N-6), Melamine, Nylon chips, MEK Oxime, etc. Furthermore, GSFC trades in DAP, Methanol, Melamine and other fertilizer as well as Industrial products.

GSFC’s operations are marked by high level of vertical integration across both fertilizers and industrial products division. GSFC meets its ammonia requirements for manufacturing of fertilizers such as urea, AS and APS and few industrial products through captive production. Furthermore, captive production of caprolactam is used for manufacturing N-6. The integrated manufacturing facilities attempt full utilization of available resources.

Total Operating Income (TOI) of GSFC improved by ~35% during FY19 from Rs.6346 crore in FY18 to Rs.8576 crore in FY19 mainly on the back of higher trading income of DAP. PBILDT margin moderated from 10.23% during FY18 to 9.77% during FY19 mainly because of higher trading income; otherwise absolute PBILDT improved from Rs.649 crore in FY18 to Rs.838 crore in FY19. Overall gearing ratio of GSFC remained stable at 0.15x as on March 31, 2019 with stable working capital borrowings. Subsidy receivables decreased marginally from Rs.1,719 crore at FY18 end to Rs.1,658 crore at FY19 end mainly due to release of withheld AS subsidy. Also, its debt coverage indicators marked by interest coverage & Total debt / PBILDT improved during FY19.