Shares of Gujarat State Fertilisers & Chemicals Ltd. (GSFC) rose 1.5% to reach a day’s high of Rs 220.89 on 14th October, following the company’s announcement of the commencement of commercial production at its newly commissioned Hydroxylamine Sulphate Crystal (FIX Crystal) plant in Fertilizernagar, Vadodara.

According to a stock exchange filing, GSFC has commissioned a new Hydroxylamine Sulphate Crystal (FIX Crystal) plant in Fertilizernagar, Vadodara.

With an annual production capacity of 6,600 metric tonnes, the plant began commercial production on 11th October 2024.

Gujarat State Fertilisers and Chemicals reported an 89% drop in consolidated net profit to Rs 24.43 crore for the fourth quarter of 2023-24, down from Rs 224.91 crore in the same quarter of the previous year, due to weak sales.

Total income fell by 16.34% to Rs 2,017.46 crore in the January-March quarter of 2023-24, compared to Rs 2,411.56 crore a year earlier, while expenses also decreased to Rs 1,993 crore from Rs 2,105.74 crore during the same period.

So far in 2024, the stock has given negative returns of almost 21%. Currently, the company’s market capitalisation stands at around Rs 8,583 crore.

At 10:11 AM, the shares of GSFC were trading 0.82% higher at Rs 215.35 on NSE.

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