Maiden Dividend from GNFC

Maiden Dividend from GNFC Hansavivek GUJARAT NARMADA VALLEY FERTILISERS COMPANY (GNFC), has fared well during year ended June 1984 and has announced a maiden dividend of II per cent. Despite certain technical problems in ammonia plant and power failures/fluctuations, production of urea was 4,73,382 tonnes against 4,44,911 tonnes in previous year. Although capacity utilisation of plant was lower at 62.47 per cent against 69.44 per cent previously, management was able to achieve better profitability by effecting savings in consumption of certain raw materials and utilities. Sales of Narmada urea at 4,91,573 tonnes was 21.66 per cent higher compared to last year and those of liquid nitrogen at 7,23,552 tonnes were up 36.29 per cent higher. Company also undertook trading activity for super phosphate, imported pool urea, DAP and muriate of potash. Total sales of these fertilisers amounted to Rs 4.63 crore. Central government has appointed company as one of pool handling agencies to handle about 1.5 lakh tonnes of imported urea and DAP per The Week's Companies annum from Dahej port. This activity will commence shortly.