June 17, 2024
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National Fertilizers gets Navratna status

On April 19, National Fertilizers Ltd made a significant announcement, revealing that it has achieved “Navratna” status, as granted by the Department of Public Enterprise. This designation is reserved for top-performing Central Public Sector Enterprises (CPSEs) and grants them enhanced autonomy and financial powers. The granting of this status underscores the company’s outstanding performance and its contribution to the national economy.

Despite this notable achievement, National Fertilizers Ltd reported a substantial 73% drop in its consolidated net profit for the December quarter, amounting to ₹150.9 crore. Additionally, the company witnessed a significant decline in revenue, which fell by 25.2% year-on-year to ₹7,581 crore during the same period. These financial results indicate some challenges faced by the company amidst market conditions and operational factors.

In response to these developments, the company’s shares experienced a slight decline in trading. On the Bombay Stock Exchange (BSE), shares of National Fertilizers Ltd closed at ₹97.00, down by ₹0.24 or 0.25%. Despite the decrease in share value, the company’s newly acquired Navratna status signals a positive trajectory for its future growth and operational capabilities, reflecting its enduring significance within the sector.

Picture Courtesy: Google/images are subject to copyright

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