Rashtriya Chemicals Board Approves Placing Rs 1,000 Crore Order With L&T
Earlier, the board of Rashtriya Chemicals and Fertilisers approved to raise up to Rs 1,400 crore through non-convertible debentures.
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Rashtriya Chemicals and Fertilizers Ltd. on Wednesday said its board has approved placing an orders with Larsen & Toubro Ltd. worth Rs 1000.27 crore.
The company order is to build a 1,200 metric tonne per day complex fertiliser plant on a lump sum turnkey basis at RCF, Thal, according to an exchange filing. Also, the order is supposed to be executed within 27 months.
To Raise Rs 1,400 Crore Via NCDs
Earlier, the board of Rashtriya Chemicals and Fertilisers approved to raise up to Rs 1,400 crore through non-convertible debentures. The funds will be raised in one or more tranches through a private placement basis.
The company will have to raise the approved funds during the next 12 months, subject to the approval of the shareholders at the annual general meeting.
Rashtriya Chemicals and Fertilisers Q1 Performance
The fertilize and chemical manufacturer reported a net profit at Rs 10.80 crore, indicating an 84% fall in the first quarter for fiscal 2025. This compares to a Rs 67.79 crore profit in the same quarter of the previous year.
The total income of the company surged to Rs 4,396.06 crore from Rs 4,042.95 crore in the same period last year. Also, the expenses increased to Rs 4,409.93 crore from Rs 4,009.02 crore.
Shares of Rashtriya Chemicals and Fertilizers closed 1.00% higher at Rs 171.01 apiece, compared to a 0.12% fall in the benchmark NSE Nifty.
The stock has risen 41.45% in the last 12 months and 7.22% year-to-date. No analysts on Bloomberg track the company.
