Fertilizers & Chemicals Travancore Limited
Add to watch list to get report alerts
BSE Code:
590024
NSE Code:
FACT
Business Profile
Business Profile
Fertilisers & Chemicals Travancore (FACT), one of the leading public sector undertakings in Kerala, was incorporated in 1943 in Travancore. The main objective of the company is to manufacture fertilizers and chemicals.
Currently, the company manufactures ammonium sulphate, ammonium phosphate, super phosphate, ultrafos, NPX mixtures and anhydrous ammonia, sulphuric acid, ammonium chloride, and sulphur dioxide. In 1982, the company entered into an agreement with Power Gas Corporation, UK for the exchange of technical knowhow developed by the company for the manufacture of ammonium sulphate from by-product gypsum obtained from the phosphoric acid plant.
The company has its plants in Udyogamandal (Kerala) and Ambalamedu. The company has an installed capacity of 225,000 MT ammonium sulphate and 330,000 MT urea. The caprolactam plant was built with licence and know-how from the world leaders in caprolactam technology, Stamicarbon, the engineering subsidiary of DSM of Netherlands. Detailed engineering of the plant was undertaken by Chiyoda Corporation of Japan in association with FACT Engineering and Design Organization (FEDO), a subsidiary unit of FACT. The plant can produce 50,000 TPA of caprolactam and 225,000 TPA of ammonium sulphate as co-product.
FACT Petrochemical Division is one of the only two manufacturers of Caprolactam in India. In February 1996, FACT Petrochemical Division was certified to ISO 9002 (1994).
In March 1998, the disinvestment commission recommended a strategic sale of 51% of the company`s equity to a strategic buyer along with management control on the basis of global competitive bids. The induction of a strategic partner could help FACT to have increased access to funds, markets, as well as technology. It would also help the company to become globally competitive and thus be prepared for eventual decontrol.
Financials
The company registered a loss of Rs 454 million for the quarter ended Dec. 2003.
It recorded a net sales of Rs 2,514.6 million for the quarter.
Total income was Rs 2,564.3 million for the quarter ended Dec. 2003.
The loss per share of the company stood at Rs 1.08 for the quarter ended Dec. 2003.
Future Plans
The government plans to divest its 51% stake equity in FACT. The Disinvestment Commission has recommended offloading 51% equity in the two companies in favor of a strategic partner.