RCF board OKs setting up of nano urea plant.

Rashtriya Chemicals & Fertilizers (RCF) rose 1.22% to Rs. 74.50 after the company's board accorded in-principle approval for setting up nano urea (liquid) plant at Trombay unit.

The board of RCF on Wednesday accorded in-principle approval for setting up of a plant to manufacture 75 KL per day i.e. 1,50,000 bottles (500 ml. capacity) per day, of nano urea (liquid) fertilizer at company's Trombay unit. Trombay is a major industrial area at the eastern shore of Mumbai, Maharashtra.

The fertilizer is based on proprietary technology developed and patented by Indian Farmers Fertiliser Cooperative Limited (IFFCO).

RCF is a fertilizer and chemical manufacturing company. The firm manufactures urea, complex fertilizers, bio-fertilizers, micro-nutrients, water soluble fertilizers, soil conditioners and a range of industrial chemicals.

On a consolidated basis, RCF's net profit stood sharply higher at Rs. 207.48 crore in Q1 FY22 as compared to 19.20 crore in Q1 FY21. Net sales soared 47.5% year on year to Rs. 2,390 crore in Q1 FY22.

BS