GSFC Unveils New Production Plant for Hydroxylamine Sulphate Crystal

14 Oct 2024 , 02:06 PM

Gujarat State Fertilizers and Chemicals Ltd (GSFC) based in Vadodara has announced the start of commercial production at its new Hydroxylamine Sulphate Crystal (FIX Crystal) manufacturing plant located in Fertilizernagar, Vadodara.

The announcement was made on October 11, 2024, through a stock exchange filing, stating the successful commissioning of the manufacturing facility. This new plant boasts an impressive annual production capacity of 6,600 metric tonnes.

The official commencement of commercial production took place on the same day, marking a significant milestone for GSFC.

Despite this positive development, GSFC reported an alarming 89% decline in consolidated net profit for Q4 2023-24, totaling ₹24.43 Crore compared to ₹224.91 Crore during the same period in the previous fiscal year.

The company’s total income also fell by 16.34%, down to ₹2,017.46 Crore from ₹2,411.56 Crore year-on-year. However, GSFC managed to reduce its expenses to ₹1,993 Crore from ₹2,105.74 Crore in the corresponding quarter a year ago.

The commencement of the FIX Crystal manufacturing plant is expected to bolster GSFC’s operational capabilities and contribute positively to its revenue streams in the future.