In a bid to protect the margins, Rashtriya Chemicals and Fertlizers (RCF) is planning a 2-3 percent increase in prices next month, following the 33 percent hike in natural gas price. The government on October 18 hiked the natural gas price from $4.2 per million British thermal unit to $6.17 per mmBtu from November 1, or about 33 percent.
The company is eyeing Rs 7,500 crore this fiscal, a 10 percent growth from last fiscal due to increased production capacity. The PSU, which already enjoys the Miniratna status, is also likely to get the Navaratna status this year once the government appoints the requisite number of independent directors.
