While overall agricultural scenario in the country was favourable in 2011-12, drought conditions in several regions this year would be disturbing for the fertiliser industry, PPL managing director SS Nandurdikar said
Bhubaneswar: Fertiliser major Paradeep Phosphates (PPL) has said it is investing around Rs600 crore on new projects for raising capacity, reports PTI.
A number of projects are underway for de-bottlenecking of the phosphoric acid and the DAP plants, PPL managing director SS Nandurdikar told reporters.
Besides, projects like a new sulphuric acid plant with 2,000 tonne a day capacity and Zypmite plant for granulated phosphogypsum are at different stages of implementation.
“These projects are expected to be completed in the next three years. Estimated investment in these projects will be around Rs600 crore and on completion we plan to achieve a capacity of 15 lakh MT of DAP and NPK complexes annually,” Mr Nandurdikar said yesterday.
On the company’s performance, he said, PPL made Rs259.26 crore as profit before tax during 2011-12 compared to Rs239.18 crore in the previous year—up 8.39%.
However, profit after tax last fiscal was flat at Rs177.71 crore, as against Rs177.08 crore in the previous year, up 0.35%.
The rise, Mr Nandurdikar said, was small due to factors like tax credit and certain relief available in 2010-11, but the company’s performance was encouraging.
The turnover last fiscal stood at Rs4,700.14 crore despite problems in raw materials availability due to logistic issues, he said.
PPL produced 10.2 lakh tonne fertilisers as against 6 lakh tonne of DAP and 4.2 lakh tonne of complexes of NPK.
Among intermediary products, sulphuric acid and phosphoric acid production were 6.3 lakh tonne and 2.1 lakh tonne respectively.
Referring to sales, Mr Nandurdikar said, the company sold 10.2 lakh tonne of its own manufactured DAP and complexes and five lakh tonne of gypsum during 2011-12.
Besides, as part of its traded products PPL sold 0.88 lakh tonne of imported MOP, 3.53 lakh tonne of imported DAP and complexes.
Though timely declaration of subsidy under the new nutrient-based subsidy policy ensured adequate availability of fertilisers during 2011-12, there was big distortion in urea price vis-a-vis phosphatic fertilisers, Mr Nandurdikar said.
While overall agricultural scenario in the country was favourable in 2011-12 with good rainfall, drought conditions in several regions this year would be disturbing for the fertiliser industry, particularly phosphatic sector, he added.
Referring to corporate social responsibility, the PPL MD said the company’s efforts continued in developing areas in neighbourhood of Paradip particularly in two gram panchayats of Bagadia and Mangarajpur in partnership with an NGO.