The country’s largest fertiliser PSU NFL is aiming to double its turnover to Rs 15,000 crore in the next five years on the back of strong performance of its non-core business.
“After gap of almost 20 years, we have tried our hands in decontrolled P&K fertilisers. The response was good, we are expecting that it will continue to yield good sales for us,” National Fertilisers Ltd (NFL) Chairman cum Managing Director Manoj Mishra told PTI.
NFL is a strong player in urea segment with 10 per cent market share. The company is now trying to raise its market share in decontrolled phosphoric and potassic (P&K) fertiliser segment to 5 per cent, Mishra added.
“There is a strong performance from industrial chemicals and decontrolled fertilisers this fiscal so far. So I am confident that by the end of fiscal 2020-21, we would able to almost double our turnover to Rs 15,000 crore,” he said.
The company’s turnover in the last fiscal was Rs 8,524 crore.
In the quarter ended December 31, the company had reported more than two-fold jump in net profit at Rs 124.34 crore.
NFL has five gas-based urea plants -- at Nangal and Bathinda in Punjab, Panipat in Haryana and two plants at Vijaipur in Guna district, Madhya Pradesh.
The company has an annual installed capacity of 35.68 lakh tonnes and is the second-largest producer of urea in the country after IFFCO.