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Business News/ Markets / Stock Markets/  Gujarat State Fertilizers reports highest ever sales, net profit and dividend of 500% in FY23
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Gujarat State Fertilizers reports highest ever sales, net profit and dividend of 500% in FY23

Mid-size firm Gujarat State Fertilisers & Chemicals Limited reported a market cap of ₹6,529.05 Cr on Thursday at the closing session.

The shares of Gujarat State Fertilizers Chemicals Ltd closed today on the BSE at ₹163.85 apiece up by 0.92% from the previous close of ₹162.35. Premium
The shares of Gujarat State Fertilizers Chemicals Ltd closed today on the BSE at 163.85 apiece up by 0.92% from the previous close of 162.35.

Mid-size firm Gujarat State Fertilisers & Chemicals Limited reported a market cap of 6,529.05 Cr on Thursday at the closing session.  The 60-year-old, government-sponsored company GSFC Limited sells a variety of products, including more than 24 different brands of fertiliser, as well as petrochemicals, chemicals, industrial gases, plastics, fibres, and other products. During the financial year ended, the company posted record breaking performance and achieved the highest ever sales, net profit and dividend of 500%.

“The Board of Directors have recommended a dividend of 10 per Equity share of 2/- each (500 %) which is subject to approval of shareholders," said Gujarat State Fertilisers & Chemicals in a stock exchange filing.

During FY22-23 the company recorded a net revenue of 11,445 Cr up by 25% YoY from 9,178 Cr in FY 21-22. Gujarat State Fertilisers & Chemicals said operating EBIDTA surged 23% YoY from 1,313 Cr in 12MFY22 to 1,618 Cr in 12MFY23. The firm broke its previous record of Rs.1305 Crores in FY 21–22 by 20% and recorded its highest PBT of Rs.1568 Crores in FY 22–23. The highest ever PAT figure climbed by 45% from Rs. 891 crore to Rs. 1293 crore.

During Q4FY23, the company recorded a net income of 2411.56 Cr up by 14.87% YoY from 2099.40 Cr in Q4FY22. Its net profit stood at 224.91 Cr during the quarter ended March 2023 down by 21.26% YoY from 285.65 Cr during the quarter ended March 2022. During the quarter under review its EPS reached 5.65 down by -21.20% YoY from 7.17 in the year-ago quarter.

“Company continues to be debt free and has resources to fund its already planned capex. Cash reserves in excess of Rs.1400 Crores will lend good support for capex led growth," said Gujarat State Fertilisers & Chemicals in its earning statement.

The shares of Gujarat State Fertilizers Chemicals Ltd closed today on the BSE at 163.85 apiece up by 0.92% from the previous close of 162.35. The stock touched a 52-week-high of 183.40 on (18/05/2023) and a 52-week-low of 114.65 on (20/06/2022). 

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Published: 25 May 2023, 08:17 PM IST
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