Fertilizers & Chemicals Travancore announced that the Annual General Meeting (AGM) of the company will be held on 20 September 2019.

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Net loss of Fertilizers & Chemicals Travancore reported to Rs 80.24 crore in the quarter ended June 2019 as against net profit of Rs 314.39 crore during the previous quarter ended June 2018. Sales rose 2.07% to Rs 351.20 crore in the quarter ended June 2019 as against Rs 344.09 crore during the previous quarter ended June 2018.

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The announcement was made after market hours yesterday, 25 July 2019.

Meanwhile, the S&P BSE Sensex was down by 16.67 points or 0.04% to 37,830.21.

On the BSE, 1.68 lakh shares were traded in the counter so far compared with average daily volumes of 25000 shares in the past two weeks. The stock had hit a high of Rs 44.15 and a low of Rs 41.3 so far during the day. It hit a 52-week high of Rs 51 on 3 July 2019 and a 52-week low of Rs 30 on 20 February 2019.

The Cabinet said that the 150 acres of land will be sold at the rate of Rs 1 crore per acre in lieu of Government of Kerala agreeing to give free-hold right over 143.22 acres of land to FACT and remaining 331.79 acres at Rs 2.4758 crore per acre as assessed by the District Collector of Ernakulam.

FACT will utilize the sale proceeds to address working capital deficiency, improvement of balance sheet and enabling the company to enhance physical and financial performance by implementing capacity expansion projects for sustainable growth of the company. This will also help FACT to reduce the bank borrowings and to implement projects for enhancing fertilizer production capacity and upgrading logistics / raw material handling facilities.

The revival of FACT will create opportunities for expansion and diversification of the company and this in turn, will help to generate more jobs, both directly and indirectly. The net effect of this will be a boost to the economy of the State of Kerala and improving fertilizer availability to South India. Reduction of dependence on import of fertilizers and chemicals will facilitate resultant savings in foreign exchange to the country and also improve fertilizers and food security. Through inclusion of fixed timelines for monitoring the implementation of the sale of land, the accountability of the management in achieving performance after the sale of land will be ensured.

Fertilizers & Chemicals Travancore reported reported a net loss of Rs 49.58 crore in Q4 March 2019 over a net loss of Rs 31.80 in Q4 March 2018. Net sales rose 8.8% to Rs 485.52 crore in Q4 March 2019 over Q4 March 2018.

Fertilizers & Chemicals Travancore (FACT) is a public sector unit which operates in diversified sectors over the decades from fertiliser into petrochemicals, fabrication, engineering, design and consultation services.

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Net Loss of Fertilizers & Chemicals Travancore reported to Rs 49.58 crore in the quarter ended March 2019 as against net loss of Rs 31.80 crore during the previous quarter ended March 2018. Sales rose 8.82% to Rs 485.52 crore in the quarter ended March 2019 as against Rs 446.18 crore during the previous quarter ended March 2018.

For the full year,net profit reported to Rs 163.14 crore in the year ended March 2019 as against net loss of Rs 129.06 crore during the previous year ended March 2018. Sales rose 1.36% to Rs 1954.99 crore in the year ended March 2019 as against Rs 1928.67 crore during the previous year ended March 2018.

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