Moneycontrol
Aug 07, 2017 02:46 PM IST | Source: CNBC-TV18

Aim to be debt free by end of FY18: GNFC

GNFC posted a steady set of earnings in Q1 as chemical business margins improved while fertiliser losses reduced. In an interview to CNBC-TV18, Rajiv Kumar Gupta, MD of the company spoke about the results and his outlook for the company.

Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) posted a steady set of earnings in Q1 as chemical business margins improved while fertiliser losses reduced.

In an interview to CNBC-TV18, Rajiv Kumar Gupta, MD of GNFC spoke about the results and his outlook for the company.

All major chemicals have done well, said Gupta.

We are doing very well in toluene di- isocynate (TDI) plant. The TDI revenue improved in Q1, he added.

Have been able to reduce finance cost, said Gupta. Debt has reduced to 0.17 percent from 0.37 percent, he added.

"Our target is to make the company debt free by the end of this financial year and we will sincerely try and work on that," said Gupta.

GNFC's current domestic market share is more than 50 percent, aim to take it to about 75 percent, he added.

Watch accompanying video for more details.
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