RCF: Realises sale of Rs 100 crore in April-May 2020
Within the first two months of FY21, PSU chemical and fertilizer company, Rashtriya Chemicals and Fertilizers (RCF) has realised sales of Rs 100 crore in its industrial chemical segment.
Industrial chemical segment of the company contributed to nearly 7 per cent of the annual sales reported in FY20 which is the lowest contribution from the segment over a span of previous three fiscal years. Therefore, the report of Rs 100 sales within just two months is viewed as a strong value-addition for the current financial year.
As seen from the press release dated June 06, 2020, major industrial chemicals included ammonium nitrate (used in coal mining), ammonium bi-carbonate (used in food and tanneries) and methyl amines (used by pesticides, dyestuff, pharma).
In terms of market capitalisation, RCF is the third largest fertilizer firm. Urea based fertilizer is its key segment but in times of a slow-moving economy, a good contribution from all business segments would certainly boost the confidence of the investors. The company along with its quarterly numbers result has also stated a prediction for a good monsoon distribution which would supplement its growth, going forward.
RCF's stock has already made a recovery of almost about 90 per cent from its March 2020 lows, but is still with negative 30 per cent returns for the span of last one year.