Gujarat State Fertilizers& Chemicals will hold a meeting of the Board of Directors of the Company on 3 November 2020.

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Gujarat State Fertilizers & Chemicals has appointed Jayaben Thakkar as on-Executive Woman Independent Director on the Board of Directors of the Company with effect from 14 October 2020.

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Gujarat State Fertilizers & Chemicals (GSFC) announced that the company is taking up manufacturing of Calcium Nitrate (CN) which is a promising water soluble fertilizer and is entirely imported as on date.

With this, GSFC will become the first Company in India to manufactureindigenous Calcium Nitrate under the 'AATMANIRBHAR BHARAT ABHIYAN'.

Calcium Nitrate is used all across the country, mainly in Horticultural and field crops. India's annual requirement of this product is around 1,20,000 MT which is entirely imported (100%) with an import value of about Rs.250 Crore in FY 2019-20.

GSFC is planning to commence the production with initial capacity ofapproximately 10,000 MTPA, expandable up to 15,000 MTPA. It is also likely to reach to 30,000 MT in next 12 months. This will add Rs.20 crore to the top line of the company with about 7% to 8 % addition in the Bottom line.

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Gujarat State Fertilizers & Chemicals has received reaffirmation in credit ratings from CARE as under:

Long term bank facilities - CARE AA+
Short term bank facilities - CARE A1+

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