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Gujarat Narmada Valley Fertilizers & Chemicals said it has awarded a contract to thyssenkrupp Udhe (TKUIPL) for the supply of a 600-million-tonne-per-day (MTPD), or 2,00,000-metric-tonne-per-annum (MTPA), weak nitric acid-III plant on an LEPC basis.
The agreement followed the company's board approval on 13 August 2024. TKUIPL, in collaboration with its parent company Thyssenkrupp Uhde, will provide process know-how and licensing for the new plant.
The installation will increase GNFC's nitric acid production capacity by approximately 57%, supporting its downstream operations and bolstering the indigenization initiative.
GNFC currently operates two nitric acid plants licensed by Thyssenkrupp Uhde. The third plant aims to strengthen the company's market presence while maintaining its commitment to environmental conservation.
The third plant will enhance the capacity of GNFC by 57% and fulfill the downstream requirement to support the Make in India campaign, with a commitment to environmental conservation, the company added.
GNFC is a joint sector enterprise promoted by the Government of Gujarat and the Gujarat State Fertilizers & Chemicals (GSFC). GNFC has extended its profile beyond fertilizers through a process of horizontal integration. Chemicals/petrochemicals, the energy sector, electronics/telecommunications, and information technology form its corporate portfolio.
The company's consolidated net profit jumped 68% to Rs 163 crore in Q3 FY25 as compared with Rs 97 crore in Q3 FY24. Total income fell 9.1% to Rs 1,899 crore in Q3 FY25 as compared with Rs 2,088 crore in Q3 FY24.
The scrip rose 0.46% to currently trade at Rs 501.25 on the BSE.
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