From 450 crore debt to be kingpin of Neem Project GNFC has a tale to tell
| Thursday | 8th February, 2018
Many companies would have given up facing a loss as big as 450 crores. Who would have imagined that GNFC, a fertilizing company will find its name synonymous with Neem Project and will become a kingpin of fertilizing industry in the country.
Many companies would have given up facing a loss as big as 450 crores. Who would have imagined that a fertilizing company will find its name synonymous with Neem Project and will become a kingpin of fertilizing industry in the country.
It takes calibre, the trust of the people and iron cored will to stand affirm the odds and sail in the harsh time. After facing such huge losses in the financial year 2014-15, this Gujarat based company made sure that they come up with flying colours and record the best fiscal in its past 4 decades. GNFC saw its Profit Before Tax (PBT) of Rs. 450 crore and Profit After Tax (PAT) of Rs. 521 crore in 2016-17.
Dr Rajiv Gupta, MD GNFC hanged the cadre and turned around the fortunes of Gujarat Narmada Valley Fertilizers & Chemicals Limited quite literally. Dr Gupta and his team worked tirelessly to start the chemical company’s Dahej plant in 2014 which was facing delayed execution and cost overrun and made it profitable.
Not only this, GNFC has also worked for the community to improve the livelihood of a number of people bringing a positive transformational change. The neem project gave employment to a number of women in the rural parts of Gujarat. The company facilitated 81 major townships across 12 states to become cashless bringing the vision of Prime Minister Narendra Modi in picture.
Elaborating the success story, Dr Gupta shares that his team believes that every rupee saved is a rupee earned. They focus on reduction of input costs and increase market realization. He also exclaims that all the plants of the factory are working over 100 percent of their capacities which has increased the efficiency, enhanced the production and given them better edge over the competitors.
GNFC has set up its neem collection centres across villages in Gujarat, and in the very first year, they collected 10,000 tones of neem seeds from some 1,00,000 women in the state alone. Gujarat Narmada Valley Fertilizers & Chemicals Limited showcases the truest spirit of positivity and exemplifies how one rises above the storm to see the sunshine.
Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.
Stay updated with all the Latest Vadodara headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.