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Gujarat State Fertilizers & Chemicals Ltd.

BSE: 500690 Sector: Agri and agri inputs
NSE: GSFC ISIN Code: INE026A01025
BSE 00:00 | 24 Apr 2020 Gujarat State Fertilizers & Chemicals Ltd
NSE 05:30 | 01 Jan 1970 Gujarat State Fertilizers & Chemicals Ltd

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OPEN 42.10
PREVIOUS CLOSE 43.10
VOLUME 119339
52-Week high 110.70
52-Week low 29.90
P/E 12.27
Mkt Cap.(Rs cr) 1,789
Buy Price 44.90
Buy Qty 50.00
Sell Price 44.90
Sell Qty 20.00
OPEN 42.10
CLOSE 43.10
VOLUME 119339
52-Week high 110.70
52-Week low 29.90
P/E 12.27
Mkt Cap.(Rs cr) 1,789
Buy Price 44.90
Buy Qty 50.00
Sell Price 44.90
Sell Qty 20.00

Gujarat State Fertilizers & Chemicals Ltd. (GSFC) - Company History

Gujarat State Fertilizers & Chemicals Ltd. (GSFC) was incorporated in the year February 15th 1962. The Company is principally engaged in production of fertilizers and chemicals. During the year 2015 GSFC Agrotech Limited (GATL) was listed as a 100% subsidiary company of GSFC.Caprolactam Quality project (CQ project) was successfully commissioned on 25th February 2018 and officially inaugurated on 28th February 2018. This project is for improvement of quality of extract Caprolactam made Caprolactam-I Plant of GSFC to produce international grade Caprolactam enhancing its quality. GSFC replicated existing Lactam Section of Caprolactam-I Plant which was commissioned in the year 1992 on BASF technology and carried out their role as a Licenser of the process legally. The project is capable of production of 50000 MTPA International grade Caprolactam from Caprolactam extract. The plant started producing International grade Caprolactam from the very first day of its commissioning underlining GSFC's operational capabilities. At full load capacity of this plant it is expected to produce @1000 MT of additional Caprolactam from lactam extract and @3500 MT of additional Ammonium Sulphate per annum as byproduct. With the commissioning of this project GSFC expects to improve their profitability significantly. It improves operational flexibility and consistent quality of international grade Caprolactam.GSFC successfully commissioned its Film Grade Nylon-6 (Dry blending unit) Project on 26th February 2018.The plant was officially inaugurated on 28th February 2018. This plant can produce 15 MT per Day of Film Grade Nylon (5000 MT per annum) of varieties like Lubricated Chips Nucleated chips and Combination of Lubricated and Nucleated chips. This is first of its kind project in India and provides leverage for import substitution. GSFC had faced a very challenging task of completing this project which was based on PEPC-Germany technology. M/S PEPC-Germany backed out of the project midway due to their poor financial position leaving entire investment of Rs. 15 Crores at stake with a possible long delay. Being a LSTK project the process recipe was a secret which party did not reveal. GSFC projects execution team developed recipe and instrumentation logic control along with piping and structural work without drawings of project and completed mechanically within house efforts in short period. In FY19 GSFC made investments in Bhavnagar Energy Company Limited (BECL) directed by Government of Gujarat (GOG) and further announced that Company was holding 59220000 equity shares of Rs. 10/-each aggregating Rs.59.22 Crores in BECL which represents 5.95% of BECL's total equity share capital as on 31 March 2018.During the year 2019 company acquired 12000000 shares of Rs. 10 each having value of Rs. 12 Crores comprising total holding of 71220000 equity shares having value of Rs. 71.22 Crores.In FY19 Government of Gujarat Energy & Petrochemicals Department approved proposal of merger of BECL into Gujarat State Electricity Corporation Limited (GSECL). The said merger shall be carried out by State Government under the provisions of Gujarat Electricity Industry (Reorganization & Regulation) Act 2003. By virtue of that the Government of Gujarat issued a notification dated 27th August 2018 inter-alia determining the terms and conditions on which the said merger shall be made effective. As per terms the Transferee Company i.e. GSECL shall issue one equity share to each shareholder of BECL against total number of equity shares of BECL held by each of such shareholders as on date of notification of this scheme. Issue of equity shares by GSECL to shareholders of BECL shall be the consideration for shareholders of BECL in respect of transfer of the undertaking of BECL and extinguishments of their rights as shareholder of BECL. Hence all rights attached thereto by virtue of shareholding at BECL get extinguished and there shall be diminution of value of shares by effect of this notification during the year 2018-19.


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