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Here the top five achievements of GNFC that made it one of the top performing companies in India.
The year 2017 has been a great year for Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC), the Baruch based fertilizer and chemical company. GNFC remained in news for its new initiatives and successful business moves all through the year and has won several accolades and recognition for the same.
Here the top five achievements of GNFC that made it one of the top performing companies in India
GNFC enters the ‘Neem Era’ with personal care products and neem-coated urea
GNFC embarked on a ‘Neem Revolution’ rolling out Neem soap and Neem hair oil. The products made GNFC venture into a lucrative FMCG segment and created job opportunities for rural women.
GNFC is now planning to launch Neem handwash and Neem mosquito repellent named ‘Neem Nite’ for the consumer market. Along with taking ahead Prime Minister Narendra Modi’s vision of producing 100 percent neem-coated urea, GNFC produces Azadirachta indica (Neem)-based products such as Neem soap, Neem Oil, Neem cakes, Neem Pesticides and Neem fertilizers with the remaining Neem seeds.
GNFC`s Bharuch township has gone completely cashless
From buying vegetable from vendor to giving offering at the campus temple, all transactions made in this township are digital. Wide-range of digital transactions are in use in this township, from POS machine to Bhim app, every shopkeeper has more than one way for taking payments.
The whole idea has helped both the consumer and the buyer by making transaction hassle-free and it has also aided in keeping expenditure records clean.
GNFC and NEC Japan collaborated in Information Technology sector
GNFC and NEC Japan signed an MOU at the recently concluded Vibrant Gujarat 2017 for collaborations in India. Both are working together as technology partners in the implementation of the Intelligent Transport Management System (ITMS) for Ahmedabad Janmarg limited since October 2016.
Both organisations have reaffirmed their commitment to jointly work and implement smart technologies in India in the security surveillance smart cities and transportation domains.
GNFC’s Dicalcium Phosphate Plant JV was inaugurated by the Prime Minister
Prime Minister Narendra Modi inaugurated the Rs 550-crore Di-Calcium Phosphate (DCP) plant, a downstream project of GNFC, being established with Foreign Direct Investment (FDI) from EcoPhos Belgium, Europe`s largest DCP producer.
The plant will produce two lakh metric tonnes per annum of DCP, which would greatly be useful for cattle feed, poultry feed, fish feed industry and also export to other countries. The plant will generate directly and indirectly thousands of jobs in Gujarat.
GNFC joins billion dollar club of market capitalization
GNFC crossed $1 billion marks in the fourth quarter of October, 2018. The company has attained Crisil A+ rating and will soon increase its base in Neem based pesticides and products. The market capitalisation of the company stood at Rs 7,990.08 crore and now has crossed 8, 000 crores today which worked out to be around $1.25 billion.
Debt protection metrics have improved too; interest coverage and net cash accrual to total debt ratios improved to 3.4 and 0.35 time, respectively, in fiscal 2017 from 2.5 times and 0.1 times, respectively, the previous fiscal according to credit rating agency CRISIL. The rating agency assigned A+’ rating to GNFC for its commercial paper programme.
Apart from these achievements, GNFC bagged awards at various national and international platforms. The year started with CMO Asia CSR Award 2017 in the category of Best CSR Practices for its advancement in planning Shared Value Creation oriented CSR activities. GNFC) Neem project also won the Porter prize for enabling social progress in the society and Global Giving Award for Best CSR Innovation Practices.
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