PERFORMANCE OVERVIEW AND STATE OF THE COMPANY'S AFFAIRS
1. Operational Performance:
The Company has achieved remarkable production performance during the FY 2025-26. Day to day plant operations were closely reviewed and optimized to maximize profit.
During the year, several Plants achieved over 100% capacity utilization level. Ammonia (6,59,169 MTs i.e. 147.96%), Urea (8,33,679 MTs i.e. 130.90%), M.F (43,941 MTs i.e. 192.72%), Formic Acid (33,773 MTs i.e. 171.26%), Acetic Acid (1,54,840 MTs i.e. 154.84%), ANP (1,72,995 MTs i.e. 121.40%), WNA-I (3,02,462 MTs i.e. 122.21%), WNA-II (1,30,248 MTs i.e. 130.25%), TDI-I, Bharuch (18,167 MTs i.e. 129.76%), EA (66,491 MTs i.e. 132.98%) were among the plants that excelled in capacity utilization.
During the year, strategic optimization of various plant operations and product mix was undertaken keeping in line with price of raw materials so as to achieve cost reduction in all aspects.
TDI-II, Dahej plant operated for 276 days at 77% capacity utilization. Production was affected by equipment issues, maintenance activities, and natural gas supply constraints.
2. Financial Performance:
During FY 2025-26, Revenue from operation is not comparable due to annual turnaround at Bharuch Complex in current FY and at Dahej Complex in Previous FY 2024-25. PBT improved by 35% for the full year mainly due to reduction in input cost. The change in other comprehensive income is attributable to change in the fair market value of both quoted and unquoted investments as well as actuarial assumptions of employee benefit obligations. The revision in both energy and fixed cost is being pursued with the Government at industry level.
The Board of Directors at its meeting held on May 18, 2026 has recommended dividend of ₹ 21/- per Equity Share (i.e. 210%).
SALES
1. Industrial Products:
The Indian chemical market, currently estimated at approximately $ 155-165 billion, is expected to grow at a steady pace and reach $ 230-255 billion by 2030, implying a CAGR of 8-9%. This trajectory is likely to outpace overall GDP growth, reflecting both increase in domestic consumption and India’s share in global chemical production.
GNFC's products have better resonance due to their application and use in different end use sectors. Hence, several industrial products of GNFC outperformed against the previous year viz. Toluene Di-Isocyanate (TDI), Formic Acid and Concentrated Nitric Acid (CNA). Milestone was created by achieving highest ever annual sales for Formic Acid in FY 2025-26. TGU, TDI & AN Melt made 22%, 22% & 17% share of the industrial products turnover respectively in the FY 2025-26.
2. Fertilizers Business:
During the FY 2025-26, our Company has achieved total sales of 6.19 Lakh Metric Tonnes of Urea which was 0.23 Lakh MT lower than previous year (i.e. 6.42 Lakh Metric Tonnes). The lower sales in Urea was due to less production during March 2026 due to geo-political reason/limited supply of feed stock. Sales of Nitro phosphate (20-20-0) stood at 1.73 Lakh Metric Tonnes, which was similar with previous year (i.e., 1.73 Lakh Metric Tonnes). During the FY 2025-26, company continued to serve farming community through “Narmada Khedut Sahay Kendras (NKSKs)”- COCO model retail outlets by providing required agri-inputs both bulk fertilizers & value added non-bulk products along with advisory services.
During the year, Trading Activities were also continued in Muriate of Potash (MoP), Di-Ammonium Phosphate (DAP), Ammonium Sulphate (AS), Single Super Phosphate (SSP), Fermented Organic Manure (FOM), City Compost etc.
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