GNFC re-starts TDI plant in a week
Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) resumes operations of its TDI plant in Dahej. The stock of GNFC was trading higher at more than 5 per cent in early morning trade. At 10:19 hours on Tuesday, GNFC was quoting Rs. 537.25 per share, up Rs. 26.65 or 5.22 per cent.
GNFC intimated the exchanges that the company had restarted production at the plant. Seven days back, on January 16, the company had reported sudden leakage at its TDI-II Plant, in Dahej. Subsequently, the company shut the plant as a safety measure. The company informed that there was no loss of life or property at the site.
Well monitored critical shutdown activities helped a smooth start-up of the plant. Various preventive maintenance and safety precautions including critical component replacement, safety tolerance were conducted by third-party inspection agency and with the help of Director of Industrial Safety & Health (DISH).
GNFC is the country's leading fertilizer company. The said plant manufactures TDI used for the manufacturing of flexible polyurethane foam, protective wear for sports and medical and cushions, gaskets, etc.
Meanwhile, on Monday, GNFC reported highest-ever quarterly performance for Q3FY17, with a net profit of Rs. 228 crore and revenues of Rs. 1,591 crore. The company's net profits spiked up by 241 per cent compared to Rs. 61 crore net profit on a year-on-year basis.