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| GNFC achieved new milestone : MD | | | Gujrat | Sep 30
The 31st annual general meeting of the Gujarat Narmada Valley Fertilizer Company Limited (GNFC) was held today at Narmadanagar, Bharuch. Addressing the share holders, Managing Director Balwant Singh said, “The Company has achieved excellent results for the year 2006-07, as it crossed new milestones in various spheres of its working and turnover of the company achieved during the year was Rs. 2,956.67 crores, which shows a 305 increase a compared to the previous year.
The net profit went up to Rs. 326.47 crores, an 11% rise over the performance of the previous year.
On the plant operations front he said every unit of the company has established new records for daily, monthly and annual productions crossing 59 milestone. Except the Urea plant, all other major plants have been functioning at over 100% capacities.
Giving the details of the modernization and expansion plans of the company in the corporate sector, Singh said that the new Methanol synthesis unit has gone on stream, which has helped increase the company’s Methanol production capacity by 30,000 MTPD. The project, which had a budgeted estimate cost of Rs. 39.28 crores, was completed at an actual cost of just Rs. 27.28 crores. Singh said the GNFC Infotower has been developed as a mini software technology park. The company has been issued a license as a certifying authority for issuing approved Digital Signature Certificates by the Govt. of India under the cyber laws of the countries. These certificates are widely used and have a very important role in providing security of E-commerce transactions over the internet. |
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