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Nagarjuna Fertilizers’ board approves for 100% of impairment of its investment in subsidiary company

14 Feb 2020 Evaluate

Nagarjuna Fertilizers and Chemicals has received approval for 100% of impairment of company's investment of Rs 22.56 crore in its subsidiary company i.e. Jaiprakash Engineering and Steel Company. The Board of Directors of the company at their meeting held on February 12, 2020, approved the same. The provision existing as on date against the said investment is Rs 9.10 crore.

Nagarjuna Fertilizers and Chemicals has significant presence in Agri Business and has diversified into sectors like, Refinery, Power, Micro Irrigation Systems and Plant Nutrition. 

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