Gujarat State Fertilizer & Chemicals (GSFC) is planning to expand its Diammonium phosphate (DAP) production facility located at Baroda to 15 lakh tonnes per annum (LTPA) from 10 LTPA entailing an investment of Rs 600 crore. The company has already got the approval of the Gujarat government and board of directors to increase the production capacity of manufacturing plant.
As on June 30, Gujarat government holds nearly 38% stake in the company. Besides the DAP plant, the company has one plant each of urea, ammonium sulphate and ammonium phosphate sulphate. The company’s joint venture manufacturing plant of Phosphoric Acid in Tunisia has also become operational during the quarter.
During the first quarter of current fiscal, the company has reported sharp decline in net profits by 97% to Rs 5.54 crore net profit of Rs 172.71 crore in the April-June quarter of the 2012-13 fiscal.
