New Launch21 Oct 2024, 05:08 pm
National Fertilizers Ltd. Achieves Navratna Status, Records Highest Ever Sales of 69.74 LMT of Fertilizers in FY 2023-24
AI Summary
National Fertilizers Ltd. (NFL) has achieved the prestigious Navratna status from the Department of Public Enterprises, Government of India. The company recorded the highest ever sales of 69.74 LMT of fertilizers during the financial year 2023-24, surpassing all previous records. The Indian fertilizer industry has started experiencing a positive growth trajectory with the total urea production in the country rising by approximately 10% in the year 2023-24. However, the industry still faces challenges such as non-availability of sufficient quantities of raw materials, high input costs, and international price volatility for the production of P&K fertilizers.
Key Highlights
- National Fertilizers Ltd. achieves Navratna status
- Highest ever sales of 69.74 LMT of fertilizers recorded in FY 2023-24
- Indian fertilizer industry experiencing positive growth with 10% rise in urea production
- Challenges in the industry include non-availability of raw materials, high input costs, and international price volatility