Deepak Fertilisers And Petrochemicals Corp. Ltd. declares 20 per cent Dividend

Deepak Fertilisers And Petrochemicals Corporation Ltd. (DFPCL) has declared dividend at 20 per cent for the year ended March 31st, 2002.

The sales has increased from Rs. 490 crore of the previous year to Rs. 512 crore, however the operating profit fell to Rs. 117 crore from Rs. 147 crore of the previous year. The fall in profit is mainly on account of short supply of natural gas resulting in lower production. A sharp drop in international prices of Methanol and sluggish fertiliser business also affected the profitability. The rest of the chemical segment achieved an impressive performance with smart increase in volumes. The company's product range and operational flexibility combined with efficient energy management has helped the Company to reduce the impact. Major loan prepayment has also helped to bring down interest burden of the Company.

The Company is in the process of de-bottlenecking the capacities of Ammonium Nitrate and Ammonium Nitro Phosphate by about fifty per cent thereby improving contribution. The Company is proposing to outsource Ammonia, to meet the shortfall in the production. The Company is also in process of setting up storage terminal at Jawaharlal Nehru Port Terminal (JNPT) for Ammonia to ensure uninterrupted production of downstream products.

For more information contact: Mr. Tushar Mehta on 020-26684155

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