Gujarat Narmada Valley Fertilizers & Chemicals Ltd
NSE: GNFC BSE: 500670
₹425.70
(-1.88%)
Wed, 11 Mar 2026, 10:28 pm
Market Cap63.75B
PE Ratio10.04
Dividend4.16
Process Industries
Chemicals: Specialty
24.5KCompany History
1976
- Incorporated on May 10 in Bharuch, Gujarat, promoted by Government of Gujarat and GSFC for manufacturing chemical fertilisers, ammonia, urea, and petrochemicals.
- Contracts transferred for technology and equipment: Texaco (USA) synthesis gas, Haldor Topsoe (Denmark) ammonia, Linde (West Germany) Ractisol wash, Snamprogetti (Italy) urea know-how.
- GSFC-Linde supply and engineering contract for ammonia plant transferred to company.
- GSFC-Snamprogetti agreements for urea plant transferred to company.
1981
- Allotted shares: 2,530 to signatories, 231,41,010 to Gujarat Government, 222,50,000 to GSFC; reserved for NRIs, agriculturists, etc.
- Offered 2,36,06,460 shares to public at par in May.
1983
- Executed technical collaboration agreements with Kemira, Finland, and Leonard, USA, for equipment, know-how, and services.
1984
- Forfeited 38,025 shares.
1985
- Received letter of intent for nitrophosphate plant (142,500 tpa), calcium ammonium nitrate plant (142,500 tpa), and concentrated nitric acid plant (33,000 tpa).
- Signed MoU with PCK technology division of Kollmorgen, USA, for 30,000 sqm pa printed circuit boards project.
- Annulled forfeiture of 1,825 equity shares.
1986
- Entered agreements with Toyo Engineering Corporation, Japan, for technical know-how, basic engineering, and imported equipment for expansion.
- Received letter of intent for 10,000 tpa formic acid manufacture.
- Commissioned EPABX project for 20,000 lines at Roopnagar, Valia; planned enhanced V-III system.
- Signed MoU with Mozak International Inc.; registered Emirates Narmada Industries p.l.c. in UK.
1987
- Signed agreements between Lurgi, West Germany, and JV Emirates Narmada Industries PLC.
1989
- Financial performance affected by changes in Retention Price Scheme.
- Licensed capacity for methanol re-endorsed from 20,000 to 100,000 tpa.
- GNAL declared sick by BIFR; rehabilitation package prepared.
- Annulled forfeiture of 200 equity shares.
- Undertook 50 MW captive power project in two phases.
- Selected Linde for basic engineering and equipment, ICI for process know-how, and Tata Consulting Engineers for detailed engineering for methanol project.
1990
- Received letter of intent for 50,000 TPA acetic acid plant as 100% EOU.
- Incorporated Gujarat Narmada Electronics Ltd for TV glass shell project; entered shareholders agreement with Videocon International Ltd.
1991
- Incorporated Narmada Chematur Petrochemicals Ltd with Chematur AB and IBI Chematur for 10,000 TPA TDI and 20,000 TPA aniline projects.
- Re-issued 28,350 forfeited shares.
1992
- Offered 296,66,667 15.5% NCDs of Rs 40 with warrants on rights basis (1:3); allotted additional 44,50,000 on oversubscription.
- Offered 14,83,300 15% debentures with warrants to employees; allotted balance to mutual funds/FIs/banks.
- Changed name of Narmada Electronics Ltd to Videocon Narmada Electronics Ltd from June 30.
- Made public issue of Rs 240 crore secured fully convertible debentures.
1993
- Gujarat Narmada Auto Ltd (GNAL) became wholly owned subsidiary manufacturing two- and three-wheelers.
1994
- Offered 47,93,000 GDRs representing 239,65,000 equity shares at US $12.75 per GDR.
- Issued 333,24,492 equity shares against detachable warrants from 15.5% NCDs.
- Allotted 1,86,223 equity shares on exercise of warrants.
1996
- Planned 10,000 MTPA polyacetal project at Rs 240 crore.
- Issued 499 equity shares on exercise of warrants.
1997
- Planned new plant to expand capacity to 100 million tonnes per day at Rs 32 crore.
- Planned third gasifier to add 20,000 MTA ammonia capacity at Rs 50 crore.
- Contemplated withdrawal from Videocon Narmada Electronics joint venture.
- Signed agreement with Plinke, Germany, for 33,000 tpa concentrated nitric acid plant, doubling capacity to 66,000 tpa.
- Planned to double acetic acid capacity to 100,000 tpa with BP Chemicals, UK.
- Narmada Chematur Petrochemicals commissioned 20,000 mtpa aniline plant operating over 100% capacity.
1998
- Planned to enhance weak nitric acid capacity from 630 MTD to 750 MTD.
- Signed pact with Uhde, Germany, for nitric acid expansion.
- Planned to double concentrated nitric acid capacity by 33,000 tpa with Plinke, Germany; expand weak nitric acid by 24,750 tpa.
- Planned to double urea capacity with 2,330 mtd urea and 1,350 mtd ammonia plant at Bharuch.
- Proposed 400 tpd PET project.
- Entered agreement with GAIL for natural gas supply for three years.
1999
- Planned fertilizer unit with 1,350 tpd ammonia and 2,330 tpd urea capacity.
- Gujarat Pipavav LNG Company signed MoU with GNFC, IFFCO and GGCL for regasified LNG supply.
- Considered marketing products of BP Chemicals, UK.
- Planned to offer 4% equity to foreign companies and NRIs for VSAT business.
2000
- Signed MoU with Ideal Data Electronic Applications for 100% EOU at GNFC Infotower.
- Entered business alliance with Cybermate Infotek for digital certificate system and security management.
- Appointed A D Desai as Managing Director.
- Proposed doubling acetic acid capacity to 100,000 tpa, commissioning third gasifier and wet scrubbing by December 2001.
- Appointed Sudhir Mankad as Director from October 24.
- Commissioned international private leased circuit at GNFC Infotower, Ahmedabad.
2002
- R C Sharma ceased as Director from January 16.
- A D Desai ceased as Managing Director from October 31; Balwant Singh assumed additional charge.
- Pradipsinh Jadeja ceased as Chairman and Non-Rotational Director from November 21; G Subbarao nominated from November 22.
2003
- G Subba Rao ceased as Director and Chairman; P K Laheri nominated as Director.
- Shrirish Bengali ceased as Non-Rotational Director.
- Appointed Koshi as Director in casual vacancy.
- Closed PCB plant operations.
- Major blast at NPA plant killed 4 and injured 26.
- Manu Shroff ceased as Director.
- Reported turnover of Rs 1,464 crore and PBT of Rs 136.39 crore.
2004
- Delisted equity shares from Ahmedabad and Delhi stock exchanges.
- Dr Manjula Subramaniam resigned as Director from August 5.
2006
- Appointed P K Taneja, IAS, as Additional Director from November 27.
2007
- Appointed V L Joshi, IAS, as Additional Director from May 19.
2008
- Appointed T Natarajan as Director from August 28.
2009
- D Rajagopalan, IAS, ceased as Director on January 21.
- Appointed Guruprasad Mohapatra, IAS, as Government Director and additional Managing Director from July 1.
2011
- Completed 300 MTPD Weak Nitric Acid-II project at Rs 262 crore; started operations.
- Appointed Atanu Chakraborty, IAS, as Additional Director.
2012
- Changed name to Gujarat Narmada Valley Fertilizers & Chemicals Limited.
2013
- Recommended dividend of Rs 3.50 per share (35%).
- Appointed Dr Hasmukh Adhia, IAS, as Additional Director from March 25.
2014
- Completed 50,000 MTPA TDI-II project at Dahej; commercial production from March 24.
- Recommended dividend of Rs 3.50 per share (35%).
2016
- Incorporated JV company with EcoPhos s.a., Belgium.
2018
- Set up Neem Soap Unit under Prime Minister’s Employment Generation Programme.
- Won Innovations in Corporate Social Responsibility Leadership Award.
- Participated in India Chem 2018.
2020
- Contributed Rs 10 crore to Chief Minister’s Relief Fund for pandemic.
2021
- Set up 10 MW solar power plant at Gujarat Solar Park.
2024
- INEOS and GNFC signed MoU for new world-scale acetic acid unit in India.
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Pocketful Fintech Capital Private Limited (CIN U65999DL2021PTC390548) | The SEBI Registration No. allotted to us is INZ000313732. NSE Member Code: 90326 | BSE Member Code: 6808 | MCX Member Code: 57120 DP | CDSL: 12099800