Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) is reportedly aiming to become zero-debt by the end of fiscal 2017-18, even as it plans foray into FMCG segment through its neem project. The company has made repayment of highest ever debt this year amounting to Rs 780 crore. The company’s debt to equity ratio has dropped from 0.38 to 0.19 per cent.
Gujarat Narmada Valley Fertilizers & Chemicals is a joint sector enterprise promoted by the Government of Gujarat and the Gujarat State Fertilizers & Chemicals (GSFC). It was set up in Bharuch, Gujarat in 1976. Located at Bharuch in an extremely prosperous industrial belt, GNFC draws on the resources of the natural wealth of the land as well as the industrially rich reserves of the area.