Net Loss of Zuari Agro Chemicals reported to Rs 134.57 crore in the quarter ended March 2019 as against net loss of Rs 17.26 crore during the previous quarter ended March 2018. Sales rose 17.13% to Rs 1999.64 crore in the quarter ended March 2019 as against Rs 1707.17 crore during the previous quarter ended March 2018.

For the full year,net loss reported to Rs 170.58 crore in the year ended March 2019 as against net profit of Rs 117.38 crore during the previous year ended March 2018. Sales rose 11.54% to Rs 8102.90 crore in the year ended March 2019 as against Rs 7264.78 crore during the previous year ended March 2018.

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Zuari Agro Chemicals announced the revision in credit ratings from ICRA as under -

Term Loans - Rating revised to [ICRA]BB (Negative) from[ICRA]BBB+ (Negative)

Long Term Fund Based - Rating revised to [ICRA]BB (Negative) from[ICRA]BBB+ (Negative)

Long Term Fund Based Interchangeable - Rating revised to [ICRA]BB (Negative) from [ICRA]BBB+ (Negative)

Long Term un-allocated limits - Rating revised to [ICRA]BB (Negative) from[ICRA]BBB+ (Negative)

Short Term non-fund-based limits - Rating revised to [ICRA]A4 from [ICRA]A2+

Short Term un-allocated - Rating revised to [ICRA]A4 from [ICRA]A2+

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The Board of Zuari Agro Chemicals at its meeting held on 12 April 2019 has appointed Samrat Sen, as Chief Financial Officer and Key Managerial Personnel (KMP) of the Company w.e.f. 12 April 2019.

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Zuari Agro Chemicals will hold a meeting of the Board of Directors of the Company on 15 May 2019.

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