GSFC to undergo maintenance shutdown

Gujarat State Fertilizers and Chemicals (GSFC) informed the bourses today that it will start annual shutdown of Ammonia - IV plant of Baroda Unit from April 13, 2019 for a period of 50 days, i.e. till June 1, 2019. Consequently, Urea-II plant will also undergo shutdown due to non-availability of CO2 gas which is a by-product of Ammonia-IV plant. The company further stated that few other connected plants like Caprolactam-I, AS-II and SA-II will also be stopped for planned maintenance.

The company has made an alternate arrangement to minimize the production losses of various fertilizers and industrial products and the company is also ensuring a continuous supply of fertilizer products to consumers from its Sikka facilities.

In the third quarter of FY19, revenue from Urea products was nearly 21 per cent of total fertilisers sales while ammonium sulphate and ammonium phosphate sulphate contributed around 11 per cent, 10 per cent, respectively.

In today’s trading session, the stock of GSFC opened at Rs. 103.65 apiece and declined nearly 2 per cent to hit an intraday low of Rs. 101.20 per share. But later, the stock recovered and settled for the day at Rs. 104.05 , up by 0.9 per cent from the previous close.