On a standalone basis, profit before tax (PBT) rose 94% year-on-year to Rs 871 crore in Q1 March 2022. EBITDA rose 88% YoY and 31% QoQ to Rs 886 crore in Q4 FY22. During the quarter, total expenses rose 47.18% to Rs 1,961.01 crore. Cost of material consumed soared 59.38% to Rs 1,177.74 crore while power, fuel and other utilities expense jumped 33.28% to Rs 315.57 crore. GNFC said that the performance is driven by chemical segment. Chemicals like Acetic Acid, WNA, A N Melt and Ethyl Acetate did quite well, the company said. Fertilizer segment turned positive mainly due to subsidy breather in case of ANP (mix fertilizer), settlement of freight and subsidy rates of Urea. Improvement in others mainly represents nCode (IT Division) profitability. For the full year, net profit jumped 147.20% to Rs 1703.75 crore on 68.51% increase in net sales to Rs 8642.29 crore in the year ended March 2022 over the year ended March 2021. In its outlook, the company said that it does not anticipate any major demand disturbance in business. Chemical buoyancy continues and segment should perform better. Products like Weak Nitric Acid, Concentrated Nitric Acid, Ammonium Nitrate and Technical Grade Urea continues to witness robust offtake, it said. With NBS rates already announced till September, 2022, mix fertilizer margins should remain to some extent protected. GNFC is a joint sector enterprise promoted by the Government of Gujarat and the Gujarat State Fertilizers & Chemicals (GSFC). GNFC has extended its profile beyond fertilizers through a process of horizontal integration. Chemicals/petrochemicals, energy sector, electronics/ telecommunications and information technology form its corporate portfolio. Powered by Capital Market – Live News
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