Madras Fertilizers Ltd

Summary

MFL was incorporated in December 1966 as Public Sector undertaking, promoted by Government of India (GOI) and AMOCO India Inc. (Amoco - a Wholly owned subsidiary of Standard Oil Company of USA) holding 51% & 49% of Shares Respectively. MFL commenced commercial production in November 1971. In 1972 National Iranian Oil Company (NIOC) was inducted as shareholder acquiring 50% of AMOCO shareholding in MFL. In 1985 AMOCO has disinvested their MFL shares to GOI, NIOC & Public. Now GOI has holding 59.50%, NIOC has holding 25.77% & and Public has holding 14.73%.MFL is manufacturing Ammonia, Urea, Complex Fertilizers and Biofertilizers and trading Agrochemicals. MFL has its Plant Facilities & Head Quarters located on a sprawling 350 acres at Manali, about 20 km north of Chennai City. MFL having enhanced capacity to produce 346500 MT of Ammonia, 486750 MT of Urea, 840000 of NPK and 400 MT of Bio Fertilizers.MFL was one of the First Modern Fertilizer Plant Producing granulated Complex fertilizers in South India. In 1996 MFL was Accredited with ISO 9002, the first among the Public Sector Fertilizer Units. MFL implemented major Modernisation and Substantial Expansion of its plants. Due to delayed delivery of materials from Indian & Overseas Vendors. The project was deffered and it was completed in August 1997.The company entered in to capital Market through Public issue, The company issued 2,86,30,000 Equity Shares of Rs.10 each at a premium of Rs.5 per share. The company was putting up... Read More