Gujarat Narmada Valley Fertilizers and Chemicals Limited — PPTs, 17-02-2025: Investor Presentation

**Financial Highlights:** GNFC's performance for Q3 FY 24-25 shows operating revenue of ₹1,899 Cr, slightly down from ₹2,088 Cr in Q3 FY 23-24, while total revenue rose to ₹2,056 Cr. The operating EBITDA improved to ₹132 Cr, with an EBITDA margin of 7%, reflecting a y-o-y increase. Profit Before Tax (PBT) reached ₹211 Cr, and Profit After Tax (PAT) was ₹158 Cr, showing a decent performance against previous quarters.

**Strategic Initiatives and Growth Drivers:** The company is enhancing profitability through better capacity utilization across its plants. Current focus on expanding Weak Nitric Acid capacity and ongoing projects like the coal-based power plant are aimed to boost cost competitiveness and operational efficiency.

**Business Developments:** The Dahej complex has achieved full operational status since October 2024, contributing positively despite previous shutdown issues. Additionally, GNFC is deliberating a strategic tie-up with INEOS to establish a world-scale Acetic Acid plant in India.

**Market Position and Competitive Advantage:** GNFC's strong distribution network and diverse product portfolio support its market position. Enhanced manufacturing technologies and a consistent profit record bolster its competitive edge.

**Investor Implications:** There are signs of stable cash flows with regular subsidy inflows, presenting a positive outlook. However, investors should monitor the impacts of fluctuating input costs and competitive pressures in the chemicals sector closely.