Nagarjuna Fertilizers & Chemicals Ltd Share Price

History of Nagarjuna Fertilizers & Chemicals Ltd

Nagarjuna Fertilizers & Chemicals Limited, was formerly incorporated as 'Kakinada Fertilizers Limited' on November 7, 2006. Kakinada Fertilizers Limited incorporated as a wholly owned subsidiary to the erstwhile Company (NFCL) in 2009-10 to manufacture, market fertilizers and allied agri inputs. Through a Composite Scheme of Arrangement and Amalgamation, KFL acquired the residual business of erstwhile NFCL and the business of Ikisan Limited effective from April 01, 2011. KFL changed its name to Nagarjuna Fertilizers and Chemicals Limited w.e.f August 19, 2011 as per the Scheme. The Company is principally engaged in the business of manufacturing and marketing of Fertilizer, Micro Irrigation Equipments. Following the approval of the Composite Scheme of Arrangement and Amalgamation betwee ...n Kakinada Fertilizers Limited, Ikisan Limited, the Company and Nagarjuna Oil Refinery Limited, the 'Oil Business Undertaking' of Erstwhile Company was demerged into Nagarjuna Oil Refinery Limited and the residual Company along with Ikisan were merged into the Company and the Scheme became effective from July 30, 2011. The flagship company of the Nagarjuna Group, Nagarjuna Fertilizers and Chemicals Limited is a leading manufacturer and supplier of plant nutrients in India. The Company has the distinction of being the single largest private sector investment in Southern India, where it supplies a broad portfolio of nutrition products and services including both macro and micro fertilizers. The Company's products and services include Nutrition solutions and Macro and Micro fertilizers and Farm Management services and Micro Irrigation solutions. It also offer expertise for the management of chemical process plants, which include Specialist Services and Total Project Management. Their operations have been aligned into three strategic business units: Straight Nutrition Business; Nutrition Solutions Business and Nagarjuna Management Services. In FY25, there were no Property, Plant & Equipment (PPE) available for operations in view of recovery from sale of Assets by the Lenders. Ammonia/Urea plants operated up to 4th June 2024, i.e., one plant till 31st May 2024 and the other plant till 04th June 2024, Micro Irrigation Plants operated till 31st May 2024 representing the discontinuation of business operations and effected the going concern of the Company since June, 2024 quarter. Post the recovery by Assets Care Reconstruction Enterprise (ACRE), Secured Creditor, there are no physical assets remaining with the Company. Consequently, ACRE has issued a No Due Certificate dated 11th July 2024, confirming that NFCL unconditionally released and discharged of any liabilities, dues, demands or claims in respect of the outstanding debt, other amounts due and payable to ACRE, including release of all security created in favour of ACRE, personal guarantees and pledge of shares of NFCL held by promoter, Amlika Mercantile Private Limited. NFCL does not have any term loans and working capital debt outstanding with the Banks.