A third of the funding will come from internal accruals while the rest will come from borrowing, says Vipin Agarwal, President and Chief Financial Officer, Deepak Fertilizer. The company's total debt in the books in Rs 1500 crore.
Unity Infra along with Deepak Fertilizers will launch a state of the art agriculture produce market committee in Kalyan, Mumbai by 2020 on 60:40 sharing basis.
Discussing the results, Deepak Anand, MD, Mangalore Chemicals & Fertilizers, said that rupee stability led to lower MTM losses during the quarter.
Deepak Fertilisers has formed a joint venture with Australian firm to provide mining services in Brisbane. The JV is executed through DFL's arm Smartchem Technologies, which will hold 65 percent stake, while the Australian company will hold the remaining 35 percent.
According to Shailesh Mehta, Deepak Fertilizers will maintain its margins or even perform better than 35 percent if the ammonia prices remain low. The company will explore all the options to increase its stake in MCF as it will be beneficial for both the companies.
Speaking to CNBC-TV18, Poddar, who holds over 16 percent in MCF, said that he consulted Mallya before buying the stake. Mallya, had then agreed with Poddar that he would enter into a joint venture with Zuari.
In an interview with CNBC-TV18, Sailesh Mehta, vice chairman and managing director of Deepak Fertilisers, spoke about the company’s results and his outlook.