Gujarat Narmada Valley Fertilizers & Chemicals Ltd Company History

The Company was Incorporated on 10th May, in Bharuch, Gujarat. The

Company was promoted by Government of Gujarat and Gujarat State

Fertilisers Co., Ltd. (GSFC). The Company Manufacture chemical

fertilisers, particularly ammonia and urea and petrochemicals.

Contracts were entered into by GSFC and were transferred in the name

of the Company; (i) with Texaco Development Corporation, U.S.A.

(Texaco) for synthesis gas generation process; (ii) with Haldor Topsoe,

Denmark (Topsoe) for ammonia synthesis process; (iii) with Linde

Aktiengesellschaft, West Germany (Linde) for Ractisol wash process and

(iv) with Snamprogetti, Italy for know-how and licence agreement with

Linde which was subsequently transferred in the name of the Company.

GSFC entered into a supply and engineering contract with Linde which

was subsequently transferred in the name of the Company. Under this

agreement, Linde was to supply all the imported equipments to the

Company for its ammonia plant.

GSFC entered into know-how agreement, supply agreement and

engineering agreement with Snamprogetti, Italy for the urea plant.

These agreements were subsequently transferred in the name of the

Company.

2,530 shares subscribed for by the signatories to the Memorandum of

Association, 2,31,41,010 shares allotted to Gujarat Govt. (of which

3,010 shares held jointly in the name of directors and Gujarat Govt.),

2,22,50,000 shares allotted to Gujarat State Fertilisers Co. Ltd.,

1,50,00,000 shares reserved and allotted to NRIs and NRI investors from

Oil Exporting Developing countries with repatriation rights and

50,00,000 shares reserved and allotted to agriculturists, co-operative

societies, directors, employees of the Company and business associates.

2,36,06,460 shares offered at par to the public in May 1981.

Technical collaboration agreements for the supply of imported

equipment, know-how, technical services, etc., were executed with

Kemira of Finland and Leonard of U.S.A.

38,025 shares forfeited.

A letter of intent was received for the establishment of a

nitrophosphate plant with a capacity of 1,42,500 tonnes per annum, a

calcium ammonium nitrate plant with a capacity of 1,42,500 tonnes per

annum and a concentrated nitric acid plant with a capacity of 33,000

tonnes per annum.

The Company undertook a project to manufacture 30,000 sq. metres.

per annum of printed circuit boards. For this purpose, a Memorandum of

Understanding was signed with PCK technology division of Kollmorge,

U.S.A.

Forfeiture on 1,825 No. of Equity shares annualled.

Agreements were entered into with Toyo Engineering Corporation of

Japan, for the acquisition of technical know-how, basic engineering and

imported equipments, etc for this expansion.

A letter of intent was received for the manufacture of 10,000 tonnes

per year of formic acid.

An EPABX project with a capacity to manufacture 20,000 lines of

digital electronic automatic exchange with C-dot technology was

commissioned at Roopnagar, Valia. The Company undertook to produce an

enhanced model i.e. V - III system of EPABX.

The Memorandum of Understanding for the project was signed with Mozak

International Inc., and a new Company in the name of `Emirates Narmada

Industries p.l.c.' was registered in U.K.

Agreements were signed between M/s. Lurgi of W. Germany and the joint

venture Company U. Emirates Narmada Industries PLC.

The overall financial performance of the Company was adversely

affected due to adverse changes in the Retention Price Scheme with

respect to normative capacity utilisation and depreciation.

GIIC was implementing through Gujarat Amino Chem Ltd., a project for

the manufacture of methanol with a capacity of 20,000 tonnes per annum.

The Company selected M/s. Linde of West Germany for the supply of

basic engineering and certain imported equipments. The Company also

selected M/s. ICI for the supply of process know-how and Tata

Consulting Engineers of Mumbai for detailed engineering.

The licensed capacity of methanol was re-endorsed from 20,000 tonnes

to 1,00,000 tonnes per annum.

GNAL was declared a `sick unit' by BIFR. A rehabilitation package

was being prepared in consultation with financial institutions/banks.

Forfeiture on 200 No. of equity shares annualled.

The Company undertook to implement a captive power project of 50 MW

in two phases.

The Company undertook a project to manufacture 30,000 sq. meters.

per annum of printed circuit boards. For this purpose, a Memorandum of

Understanding was signed with PCK technology division of Kollmorge,

U.S.A.

The Company received a letter of Intent for setting up a 50,000 TPA

acetic and projects as a 100% Export Oriented Unit.

"Gujarat Narmada Electronics, Ltd., was incorporated for the

implementation of TV Glass Shell Project. As shareholders agreement

was entered into between the Company and Videocon International Ltd.

(VIL), by which the promoters' equity was to be provided.

The name Narmada Electronics Ltd., was changed to "Videocon Narmada

Electronics, Ltd.," with effect from 30th June, 1992. The Company made

a public issue of secured fully convertible debentures for an aggregate

amount of Rs 240 crores.

"Narmada Chematur Petrochemicals, Ltd.", was incorporated jointly

with Chematur AB and IBI Chematur as equity partners, for the

implementation of 10,000 TPA TDI and 20,000 TPA Aniline projects with

Du-pont technology provided by Chematur AB.

28,350 forfeited share/re-issued.

The Company offered 296,66,667 - 15.5% non-convertible debentures of

Rs 40 each with detachable warrants on Rights basis in the proportion 1

deb.: 3 equity shares held. Additional 44,50,000 debentures were

allotted to retain oversubscription.

Another 14,83,300 - 15%, debentures together with detachable warrants

were offered to employees'. Only 8,98,350 debentures taken up. The

balance of 5,84,950 debentures were allotted to Mutual Funds/Financial

Institutions/Banks. The Debentures are redeemable in 3 equal annual

instalments on the expiry of 7th, 8th and 9th year from the date of

allotment.

`Gujarat Narmada Auto Ltd.' (GNAL) is a wholly owned subsidiary of

the Company which is manufacturing two-wheelers three-whellers.

As at 31st March, all the 51,55,207 No. of equity shares of Rs 10

each were held by the holding company, i.e. Gujarat Narmada Valley

Fertilizers Co., Ltd.

The Company offered 47,93,000 GDRs representing 239,65,000 No. of

equity shares of Rs 10 each at a price of US $ 12.75 per GDR i.e. (1

GDR = 5 equity shares).

333,24,492 No. of Equity shares issued against detachable warrants

attached with 15.5% NCDs of Rs 40 each. 1,86,223 No. of equity shares

of Rs 10 each (prem. Rs 25 per shares) allotted on exercise of option

attached to Detachable warrants.

The Company was planning to set up a 10,000 MTPA of the polyhacetal

project with an estimated investment of Rs. 240 crores.

499 No. of equity shares on exercise of warrants issued.

The Company undertook to expand the plant's capacity by putting up a

new plant of 100 million tonnes per day capacity with an investment of

Rs 32 crores.

The Company undertook to set up a third gasifier train to augment

ammonia capacity by addition of 20,000 MTA of additional ammonia at a

cost of Rs 50 crores.

The Gujarat Narmada Valley Fertilisers Company (GNFC) is seriously

contemplating withdrawal from Videocon Narmada Electronics Limited,

GNFC's joint venture with the Videocon group.

The company has an installed capacity of 17 lakh glass shells for

colour picture tubes. CRT displays and monitors and 2.5 lakh glass

parts (panels and funnels) and glass bulbs for black and white

television picture tubes and monochrome monitor tubes.

The joint venture between Videocon and GNFC manufactured only 2.9

lakh glass shells (panels and funnels) for colour picture tubes during

the last financial year (1994-95) as against the installed capacity of

17 lakh shells and there was no production of glass parts (panels and

funnels) for black and white television picture tubes.

Gujarat Narmada Valley Fertilisers Company Ltd (GNFC), Bharuch,

engaged in the manufacture of chemical fertilisers viz Narmada Urea,

Phos and CAN, chemicals of like acetic acid, formic acid, methanol,

nitric acid and electronics products such as printed circuit boards and

digital switching systems, has reported encouraging performance for the

year 1996-97.

GNFC has signed an agreement with Plinke for technology and supply of

equipment.

Gujarat Narmada Valley Fertilizers Company (GNFC) has entered into an

agreement with Plinke of Germany to set up a 33,000 tpa concentrated

nitric acid plant at its Bharuch complex in Gujarat. The total

capacity will now be doubled to 66,000 tpa.

The Bharuch-based Rs 1,200 crore Gujarat Narmada Valley Fertiliser Co

Ltd (GNFC), market leader in acetic acid, methanol and formic acid, is

doubling its acetic acid production capacity from 50,000 to one lakh

tonnes per annum (TPA) in technical collaboration with B P Chemicals of

the UK.

Its subsidiary company, Narmada Chematur Petrochemicals Ltd (NCPL),

has successfully commissioned 20,000 million tonnes per annum (mtpa)

aniline plant operating at more than 100 per cent capacity.

The company undertook to enhance the capacity of weak nitric acid

plant capacity from 630 MTD to 750 MTD.

Gujarat Narmada Valley Fertilizers Company Ltd has signed a pact with

Uhde of Germany for undertaking engineering and construction of its

nitric acid expansion plans at Bharuch.

GNFC is doubling its capacity of concentrated nitric acid (CNA) by

33,000 tpa for which technical knowhow will be provided by Plinke of

Germany. GNFC is also expanding the capacity of weak nitric acid (WNA)

by 24,750 tpa this year.

Gujarat Narmada Valley Fertilizers Co Ltd (GNFC) plans to double

total urea capacity, by setting up 2,330 mtd urea and 1,350 mtd ammonia

plant at an investment facility at Bharuch in Gujarat.

GNFC also proposes to set up a world class 400 tpd pet project based

on PTA and MEG as principal raw material.

GNFC recently entered into an agreement with GAIL to increase the

supply of natural gas for three years.

The proposed fertiliser unit will have an installed capacity to

produce 1,350 tonnes per day (tpd) of ammonia and 2,330 tpd of urea.

The new plant is also slated within the existing premises of GNFC.

Gujarat Pipavav LNG Company Ltd (GPLCL) has signed a memorandum of

understanding (MoU) with Gujarat Narmada Fertiliser Corporation (GNFC),

Indian Farms, Fertiliser Co-operative (IFFCO) and Gujarat Gas Company

Ltd (GGCL) for the supply of regassified liquefied natural gas (LNG).

Gujarat Narmada Valley Fertilisers Company (GNFC) is considering a

proposal to market products of BP Chemicals, UK through its vast

marketing and distribution network.

Gujarat Narmada Valley Fertilizers Co Ltd (GNVFC), will offer about

four per cent of equity to foreign companies and non-resident Indians

(NRIs) in its existing company for the very small aperture terminals

(Vsat) business.

Ideal Data Electronic Applications has signed a Memorandum of

Understanding with Gujarat Narmada Valley Fertiliser Company for the

purpose of setting up a 100 per cent Export Oriented Unit at the GNFC

Infortower.

The Company has entered into a business alliance with Hyderabad-based

global software and systems integration major Cybermate Infotek Ltd. to

set up digital certificate based system and security management.

AD Desai has been appointed as the MD of the Broach-based Gujarat

Narmada Valley Fertilisers Company Ltd.

The Company proposed to double the capacity of the acetic acid plant

to 1,00,000 tonnes per annum, commission the third gasifier plant and

install the wet scrubbing system all by December 2001.

Mr. Sudhir Mankad has been appointed as Director on the board

effective from October 24.

The Company has commissioned its international private leased circuit

(IPLC) at its GNFC Infotower in Ahmedabad.

Gujarat Narmada Valley Fertilizer Company Ltd (GNFC) has informed

that Shri R C Sharma has ceased to be a Director of the Company wef

January 16, 2002 vide his resignation.

Gujarat Narmada Valley Fertilizers Company Ltd has informed that consequent upon the retirement of Shri A D Desai from the services of Government of Gujarat (GOG) upon attaining the age of superannuation, GOG has withdrawn his nomination from the Board of the company. As such he ceased to be the Director and Managing Director of the company. Shri Balwant Singh, Director of the company has assumed the additional charge of Managing Director with effect from October 31, 2002. He will be formally appointed Managing Director of the company in due course.

Gujarat Narmada Valley Fertilizers Ltd has informed that consequent upon the withdrawal of Nomination by Government of Gujarat, Shri Pradipsinh Jadeja ceased to be a Non-rotational Director as also the Chairman of the company with effect from November 21, 2002. Further, Shri G Subbarao has been nominated by Government of Gujarat as Non-rotational Director on the Board of the company with effect from November 22, 2002.

Gujarat Narmada Valley Fertilizers Company Ltd has informed BSE that consequent upon the withdrawal of Nomination by Govt of Gujarat Shri G Subba Rao ceased to be a Director as also the Chairman of the company. Shri P K Laheri has been nominated by Govt of Gujarat as Director on the Board of the company.

Shri Shrirish Bengali has ceased to be the Non-Rotational Director of the company.

Shri Koshi has been appointed as the director on the board of the company in the

casual vacancy.

Government has withdrawn the nomination of Shri Subba Rao, ceased to the director

as also the chairman of the company and Shri P K Laheri has been nominated by

the government on the board of the company.

GNFC has witnessed a turnover of 1464 cr and profit before tax of Rs.136.39cr, which

has been increased over the years.

GNFC has announced the closure of PCB plant operations of the company since it

did not reach up to the desired expectation of the company.

GNFC has informed that Shri Manu Shroff, ceased to be the director of the company.

4 persons were killed and 26 were injured in a major blast at the nitrogen phosphorus

ammonia plant of Gujarat Narmada Valley Fertilisers Corporation Limited in Bharuch

District.

Delists the equity shares from Ahmedabad & Delhi stock exchanges

Gujarat Narmada Valley Fertilizers Company Ltd has informed that Dr. Manjula Subramaniam has resigned as a director of the Company with effect from August 5, 2004

Gujarat Narmada Valley Fertilizers Company Ltd (GNFC) has informed that Shri. PK Taneja, IAS has been appointed as Additional Director on the Board of the Company w.e.f. November 27, 2006.

Gujarat Narmada Valley Fertilizers Company Ltd (GNFC) has appointed Shri. V L Joshi, IAS as Additional Director on the Board of the Company w.e.f. May 19, 2007.

Gujarat Narmada Valley Fertilizers Company Ltd (GNFC) has appointed Shri. T Natarajan as Director of the Company w.e.f. August 28, 2008.

Gujarat Narmada Valley Fertilizers Company Ltd (GNFC) has informed BSE about the change taken place in the Company's Directorate:

Name of Director : Shri. D Rajagopalan, IAS

Date of Appointment or Change : January 21, 2009

Brief Particulars of change : Ceased to be a Director vide resignation.

Gujarat Narmada Valley Fertilizers Company Ltd (GNFC) has informed BSE about the change taken place in the Company's Directorate as mentioned hereunder :

Name of Director : Shri. Guruprasad Mohapatra, IAS

Date of Appointment : July 28, 2009.

Brief Particulars of Change : The Board has at its meeting held on July 28, 2009 taken note of the nomination of Shri Guruprasad Mohapatra, IAS, Managing Director, Gujarat Alkalies & Chemicals Ltd as Government Director and has appointed him to hold additional

charge of the post of Managing Director of the Company effective July 01, 2009.

Gujarat Narmada Valley Fertilizers Company Ltd has 300 MTPD Weak Nitric Acid-II Project of the Company has been completed at a cost of about Rs. 262 Crores. WNA-II Project has started its operation.

Shri Atanu Chakraborty, IAS is appointed as Additional Director on the Board of the Company.

The Change of Name of the Company from Gujarat Narinada Valley Fertilizers Company Limited to "Gujarat Narmada Valley Fertilizers & Chemicals Limited".

Gujarat Narmada Valley Fertilizers & Chemicals Ltd has informed that the Board of Directors of the Company have recommended a Dividend of Rs. 3.50 per equity share of Rs.10/- each (@ 35%) to the shareholders for the year ended March 31, 2013

Gujarat Narmada Valley Fertilizers & Chemicals Ltd has informed that Dr Hasmukh Adhia, IAS has been appointed as Additional Director on the Board of the Company w.e.f. March 25, 2013.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd has informed that 50,000 MTPA Toluene Di-lsocynate - II Project at Dahej established by the Company has been completed and the commercial production has been declared with effect from March 24, 2014.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd has informed that the Board of Directors of the Company recommended a Dividend of Rs.3.50 per equity share of Rs.10/- each (@ 35%) to the shareholders for the year ended March 31, 2014

The JV Company has been incorporated by the company in joint venture with EcoPhos s.a. Belgium.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd is set up Neem Soap Unit under the Prime Minister’s Employment Generation Programme

Gujarat Narmada Valley Fertilisers & Chemicals Ltd won the prestigious category of Innovations in Corporate Social Responsibility Leadership Award

Gujarat Narmada Valley Fertilizers and Chemicals Ltd (Ltd) had participated in the 10th Edition of India Chem 2018 at NSE Nesco Complex,

GNFC contributed a sum of Rs.10.00 Crore towards Chief Minister’s Relief Fund for pandemic

GNFC is set up 10 Mega Watt (MW) Solar Power Plant at Gujarat Solar Park.