NFL hits upper circuit
National Fertilizers Ltd (NFL), a mini-ratna PSU with plants at Punjab, MP and Haryana, declared its numbers on 29th May but the stock seems to be reacting to the same since then. The stock has been breaching the upper circuit since 29th and even today, it has hit the 10% upper circuit at Rs.44.90. Its 52-week high is at Rs.47.50.
The company, for Q4Fy14 posted a decline in its net loss, from Rs.107 crore in Q4Fy13 to Rs.10 crore and net income showed a very good jump of 73% at Rs.1991 crore. The company has stated that this decline in loss was due to its best-ever urea production of 36.36 lakh tonnes and best-ever urea sales of 36.87 lakh tonnes, including carry-over stocks for the year.
For FY14, the company remained in the red but once again losses reduced from Rs.171 crore in Fy13 to Rs.90 crore and this was on a 19% jump in net sales at Rs.8029 crore. For the year, the company’s capacity utilization was 102% and it hopes to end Fy15 with a net profit. per cent and the company is aiming to end 2014-15 with a positive bottom line.