Rashtriya Chemicals & Fertilizers has received reaffirmation/ assignment of ratings at ICRA AA/ ICRA A1+ for various debt facilities of the company. Powered by Capital Market - Live

The agency has assigned a short-term rating of '[ICRA] A1+' to the debt facilities of the company. ICRA stated that the rating reaffirmation considers the established position of Rashtriya Chemicals and Fertilizers (RCF) as one of the largest urea manufacturers in India with vertically integrated operations in fertilisers and chemicals, coupled with the healthy operating efficiency of its urea operations, reflected in the high plant utilisation levels. The ratings also factor in the sustained comfortable receivable cycle owing to the timely release of subsidy by the Government of India (GoI) and expectation of the trend continuing. The ratings also factor in the low demand risk for urea and RCF's parentage with the GoI holding a 75% stake in the company and the exceptional financial flexibility arising out of its strategic importance to the GoI. Further, its large sovereign ownership and ability to access the debt markets at competitive rates supports its liquidity profile. The ratings, however, are constrained by the vulnerability of the fertiliser business to regulatory and agro-climatic risks and the high working capital intensity of the operations. While the subsidy payments in recent years have been timely, inadequate increase in subsidies or delays in payments can have an adverse impact on the company's financial profile. The profitability of the chemical division is vulnerable to commodity price cycles, exchange rate fluctuations and a potential reduction in import duty. The company has large capex plans in the medium term for modernisation, energy-saving projects and product diversification, which will be funded by debt and internal accruals, exposing the company to project execution risks and may put some pressure on the credit metrics. Rashtriya Chemicals & Fertilizers (RCF) has a diversified product portfolio of urea (51% of overall sales in FY2024), complex fertilisers (13%), traded fertilisers (25%) and industrial chemicals (10%). The Government of India holds a 75% stake in the company. Powered by Capital Market - Live

Rashtriya Chemicals & Fertilizers will hold a meeting of the Board of Directors of the Company on 13 November 2024Powered by Capital Market - Live

Shares of Larsen & Toubro rose 0.87% to currently trade at Rs 3,516.80 on the BSE. In a regulatory filing, the company stated, 'We hereby inform you that the board of directors, at its meeting held today, 9 October 2024, has approved the placement of a purchase order on Larsen & Toubro for the setup of a 1,200 MTPD (DAP basis) complex fertilizer plant on LSTK basis at RCF, Thal.' The project is valued at Rs 1,000.27 crore and is expected to be completed within 27 months. Rashtriya Chemicals & Fertilizers (RCF) is engaged in the manufacturing and marketing of fertilizers and industrial chemicals. As on 30 June 2024, the Government of India held 75% stake in the company. The company's consolidated net profit slipped 84.04% to Rs 10.80 crore in Q1 FY25 as compared with Rs 67.69 crore posted in same period last year. Revenue from operations grew by 8.73% year on year (YoY) to Rs 4,396.06 crore during the quarter ended June 2024.Powered by Capital Market - Live

The Board of Rashtriya Chemicals & Fertilizers at its meeting held on 09 October 2024 has accorded its approval for Placement of purchase order on Larsen & Toubro (Division L&T Hydrocarbon) for setting up of 1200 MTPD (DAP basis) Complex Fertilizer plant on LSTK Basis at RCF, Thal. The value of the order is Rs 1,000.27 crore. Powered by Capital Market - Live

Rashtriya Chemicals & Fertilizers announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2024.Powered by Capital Market - Live

Rashtriya Chemicals & Fertilizers announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2024.Powered by Capital Market - Live

In an exchange filing, RCF said, 'The board has considered and approved the issue of secured/unsecured, non-convertible debentures in one or more series/tranches, aggregating upto to Rs1,400 crore in the period of next twelve months through private placement basis subject to the approval of the shareholders at the ensuing annual general meeting.' Rashtriya Chemicals & Fertilizers (RCF) is engaged in the manufacturing and marketing of fertilizers and industrial chemicals. As on 30 June 2024, the Government of India held 75% stake in the company. The company's consolidated net profit slipped 84.04% to Rs 10.80 crore in Q1 FY25 as compared with Rs 67.69 crore posted in same period last year. Revenue from operations grew by 8.73% year on year (YoY) to Rs 4,396.06 crore during the quarter ended June 2024. Shares of Rashtriya Chemicals & Fertilizers slipped 1.83% to Rs 195.45 on the BSE. Powered by Capital Market - Live

The Board of Rashtriya Chemicals & Fertilizers at its meeting held on 05 September 2024 has approved the issue of Secured/Unsecured, Non-Convertible Debentures in one or more series/tranches, aggregating upto to -Rs 1,400 crore in the period of next twelve months through private placement basis subject to the approval of the shareholders at the ensuing annual general meeting.Powered by Capital Market - Live

Rashtriya Chemicals & Fertilizers will hold a meeting of the Board of Directors of the Company on 5 September 2024.Powered by Capital Market - Live