National Fertiliser Ltd (NFL) had some great news to share, reflecting that boom time which we are seeing in the agriculture sector.
For the period between April to Oct, the PSU clocked a 237% (YoY) jump in sale of Bentonite Sulphur. Another sulphur based fertilizer – SSP, registered growth of 133%.
While Bentonite Sulphur, produced in NFL Panipat Plant, logged sale of 11,730 MT during April-October 2020 against CPLY of 3,478 MT, sale of SSP reached 14,726 MT compared to 6,323 MT during the same period last year.
The company said that it has been making efforts to promote a more balanced use of fertilizers in country, encouraging farmers in its training programmes to also use non-urea fertilizers like DAP, MoP, NPK and Sulphur Based fertilizers. And it is these efforts which saw the sale of all nonurea fertilizers during the first seven months of the current financial year hitting such new highs.
The stock, which had closed yesterday at Rs.29.95, opened with a positive gap and rose to Rs.33.75, zooming up 13%. Its 20% UC for the day stands at Rs.35.90.