National Fertilizers Ltd Q4 net loss narrows on exceptional subsidy losses in Mar-20

National Fertilizers Ltd reported -1.98% yoy fall in consolidated net revenues for the Mar-21 quarter at Rs2,974.09cr

Jun 10, 2021 07:06 IST India Infoline News Service

National Fertilizers Ltd reported -1.98% yoy fall in consolidated net revenues for the Mar-21 quarter at Rs2,974.09cr. On a sequential basis, net sales revenues were up 1.03% compared to total revenues in the Dec-20 quarter at Rs2,943.72cr.

Full year revenues for FY21 were -9.5% lower at Rs11,939cr. Being in the fertilizers business, the pricing policy is determined by the fertilizer subsidy policy of the government which varies on an annual basis. It also depends on the kind of NPK mix that the government wants to move the industry to.

Net losses in the Mar-21 narrowed sharply to Rs-9.53cr as compared to a net loss of Rs-248.65cr in the Mar-20 quarter. This huge loss in the Mar-20 quarter was on account of an exceptional write-off of Rs388.85cr towards possible reversal of subsidies accrued between 2014 and 2019. This is under the Modified New Pricing Scheme-III.

Net margins across quarters were not exactly comparable due to losses in corresponding quarters. NFL has been able to operate all its 5 plants across India at normal output and utilization levels.


Financial highlights for Mar-21 compared yoy and sequentially


National Fertilizers
Rs in Crore Mar-21 Mar-20 YOY Dec-20 QOQ
Total Income (Rs cr) ₹ 2,974.09 ₹ 3,034.24 -1.98% ₹ 2,943.72 1.03%
Net Profit (Rs cr) ₹ -9.53 ₹ -248.65 -96.17% ₹ 52.89 -118.02%
Diluted EPS (Rs) ₹ -0.19 ₹ -5.07 ₹ 1.08
Net Margins -0.32% -8.19% 1.80%

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