Profit before tax (PBT) in fourth quarter of FY24 was Rs 26.16 crore, down 91.43% from Rs 305.25 crore recorded in the same period last fiscal.
The company's revenue from fertilizer products was at Rs 1,334.11 crore (down 24.33% YoY) while industrial products revenue came in at Rs 631.14 crore (up 1.65% YoY) during the period under review.
On a full year basis, the net profit slipped 55.44% to Rs 564.04 crore on 19.47% decline in revenue from operations to Rs 9,154.64 crore in FY24 over FY23.
Operating EBIDTA dropped 92.69% YoY to Rs 25 crore during the period under review.
In its outlook, GSFC said, “The company plans to follow production with mix of DAP & Non- DAP products during Q1-24/25 so as to optimize the cost and targets sales of about 4.5 LMT during current quarter. The demand of our industrial products from various application sectors is likely to remain stable during next quarter. Considering planned annual shutdown of Caprolactam-II & Nylon-I plants during Q1 24-25, overall sales of our industrial products are expected to reduce in next quarter.”
Meanwhile, the company's board has recommended a dividend of Rs 4 per share for FY23.
GSFC is engaged in production of fertilizers and chemicals. GSFC is under the ownership of Ministry of Chemicals and Petro-Chemicals, Government of Gujarat. Gujarat State Investments holds 37.84% in the company.