Mangalore Chemicals & Fertilizers Limited (MCFL), Karnataka’s largest fertiliser manufacturing unit, has reported the audited financial results for the quarter and year ended on March 31, 2018.
During the quarter ended on March 31, 2018, the total income is Rs 643.06 crore in comparison to the corresponding quarter last year of Rs 543.55 crore. Profit before depreciation, interest and taxes (EBITDA) for the quarter is Rs 48.59 crore against corresponding quarter last year of Rs 31.62 crore. Net profit after tax for the quarter is Rs 20.30 crore against corresponding quarter last year Rs 4.69 crore.
The total income for FY18 is Rs 2704.75 crore in comparison to the corresponding FY17 of Rs 2502.26 crore. Profit before depreciation, interest and taxes (EBITDA) for FY18 is Rs 202.45 crore against corresponding FY17 of Rs 181.66 crore. Net profit after tax for the FY18 is Rs 60.58 crore against corresponding FY17 Rs 19.41 crore.
The Board of the company has recommended a dividend of Rs 1 per share (10% on face value of Rs.10 per share).
MCFL is a subsidiary of Zuari Agro Chemicals Limited, part of US$3 billion Adventz Group company, which holds 53.03% equity shares. MCF is the largest manufacturer of chemical fertilisers in the state of Karnataka. The main products of the company are Urea, Di-Ammonium Phosphate (DAP), NP 20:20:00:13, Ammonium Bi-Carbonate (ABC) – Food grade, Sulphuric Acid, Speciality fertilisers and nutrient products consisting of water soluble fertilisers, micronutrients & soil conditioners and Sulphonated Naphthalene Formaldehyde (SNF), an industrial product.
While fertilisers and plant nutrient products are marketed, under the brand name Jai Kisaan-Mangala, in Karnataka, Kerala, Tamil Nadu, Andhra Pradesh, Telangana and Maharashtra, the food grade ABC used mainly in confectionery industry and SNF used in the construction industry are marketed across India as well as in the international market. Ammonia and Phosphoric Acid, the raw materials required for DAP and NP production are imported.
Adventz Group, India’s largest private sector fertiliser and agri-inputs player, is also a frontrunner in modern sugar processing and green power.