The turnover during 2011-12 was Rs 2,207 crore and the company had earned a profit of Rs 112 crore. The company has been earning profit during the last three years on account of 100 per cent capacity utilisation of urea with the maximum energy saving, Dr I. Vijayakumar, Chairman and Managing Director, MFL, said.

Mr Vijayakumar, who was here in connection with a dealer meet, told reporters that the company is also awaiting the nod from the Centre to import fertilisers such as DAP, complexes and potash in the current year. By this process of trading, the sales revenue may go up to achieve the sales target, he said.

MFL, which is operating in all the southern States, has also plans to convert its feed stock from naphtha to gas within two years. He said that Gas Authority of India Ltd has assured gas supply from the upcoming LNG Terminal in Kochi.

At present, only three companies in India are using naphtha as feed stock, which resulted in high production cost. Moreover, the Union Government is insisting on all companies to shift to gas to reduce production cost, he added.

Diversification plans
The company had also chalked out diversification programmes involving utilisation of its 130-acre vacant land at Manali in Chennai both for container business and power plants.


The close proximity of the area to Ennore Port will be advantageous for setting up container freight stations, he said, adding that the company is looking for joint venture partners.

MFL, he said, had achieved a record production of 4.87 lakh tonnes of urea during 2011-12. It had also produced and sold 480 tonnes of bio fertilisers.

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By Levasto India on 23:21. Filed under Business . Follow any responses to the RSS 2.0. Leave a response