Gujarat State Fertilizers & Chemicals Ltd
NSE: GSFC BSE: 500690
₹160.89
(-1.28%)
Wed, 11 Mar 2026, 04:39 pm
Market Cap64.93B
PE Ratio9.26
Dividend3.18
Process Industries
Chemicals: Agricultural
24.5KCompany History
1962
- Incorporated on 15 February in Gujarat.
- 147,000 preference and 441,000 equity shares allotted to Gujarat Government; additional shares to directors, employees, public.
1967
- Commissioned first phase plants: ammonia, sulphuric acid, phosphoric acid, urea, ammonium sulphate, diammonium phosphate.
1972
- Set up development and research department.
1974
- Commissioned Caprolactam facility on 25 March.
1979
- Completed debottlenecking programme for phosphoric acid production on 1 June.
1980
- Set up plant for recovery of methane synthesis gas and argon gas.
1981
- Commissioned 132,000 TPA sulphuric acid plant in December.
- Commissioned 300 TPA SAN demonstration plant in December.
1982
- Commissioned 5,000 TPA melamine and fluorine recovery plant in November.
- Commissioned oxosyngas plant for Indu Nissan Oxo Chemical Industries Ltd in July.
- Undertook second DAP complex of 450,000 tonnes P2O5 pa on Saurashtra coast.
- Formed technical committee with Gujarat Maritime Board for Sikka port jetty.
1983
- Amalgamated Polymers Corporation of Gujarat Ltd effective 1 January under Section 72-A of Income-Tax Act.
1984
- Issued 14,706 bonus equity shares (1:4) to Polymers Corporation shareholders.
1985
- Developed 4 polymer blends and alloys of Nylon-6 and SAN.
- Received industrial licence for methacrylic acid.
- Gujarat High Court approved amalgamation of Polymers Corporation of Gujarat Ltd effective 1 January 1983.
1986
- Subdivided equity shares in June.
- Allotted 260 equity shares to non-residents and 30 bonus shares; forfeited 30 shares.
- Commissioned main process plant of second DAP complex at Sikka in December.
1987
- Received government approval for multipurpose fertiliser pilot plant with IFDC, USA.
- Commissioned xylitol pilot plant from bagasse.
- Developed acrylic-based synthetic thickener with ATIRA.
- Issued Rs 45 crores 14% NCDs to institutions on private placement.
- Issued 6,218,337 bonus equity shares (3:10).
1988
- Completed agreements for Caprolactam facility plant.
- Set up Gujarat Industries Power Co. Ltd. jointly.
- Proposed biotechnology project with US company under PACT scheme.
- Offered 166,66,666 14% partly convertible debentures on rights (taken up); 8,33,333 to employees.
1989
- DAP production at Sikka hampered; plant closed 193 days due to raw material shortages.
- Received permissions to import 1,500 tonnes melamine; proposed capacity expansion to 15,000 TPA.
- Decided to set up 1,000 TPD sulphuric acid plant.
- Allotted 17,462,401 equity shares on conversion of partly convertible debentures.
1990
- Proposed 1,350 MTPD ammonia plant at Fertilizernagar; selected Linde AG.
- Set up argon gas production project.
- Amalgamated subsidiary Gujarat Nylons Ltd effective 1 April; allotted shares to shareholders.
- Issued 13,322,558 bonus equity shares (3:10).
1991
- Installed three-bed modified design contact furnace in melamine plant.
- Decided to take over Sikka Jetty from Gujarat Maritime Board.
- Forfeited 525 GNL equity shares; allotted 18,57,600 equity shares and 557,280 bonus shares to GNL shareholders.
- Allotted 27,414,880 equity shares pursuant to amalgamation.
1992
- Offered 6,428,571 partly convertible debentures of Rs 350 each on rights and to employees.
- Allotted 63,69,451 equity shares on conversion of debentures.
- Proposed Euro Convertible Bonds of US$100 million.
- Redeemed 35,000 11% cumulative preference shares on 19 January.
- Allotted 63,77,124 equity shares.
1995
- Installed additional equipment and modifications in Gas Turbine for Naphtha/HSD or natural gas mixture.
- Promoted GSFC Investment & Leasing Co. Ltd.
- Rights issue of 13,301,290 equity shares (1:5) at premium Rs 90.
- Proposed equity shares/convertible bonds up to US$100 million; NCDs Rs 80 crores on private placement.
1996
- Signed contracts with ENCO/Poleservice for licence, know-how, basic engineering and imported items.
- Name changed to Gujarat State Fertilizers & Chemicals Ltd effective 1 October.
- Issued 13,290,847 right shares at premium Rs 90 (1:5).
1997
- Commissioned DCS systems, electrical sub-station, air separation unit, argon recovery units, TG set, air and nitrogen compressors.
1998
- Undertook debottlenecking project to enhance Cyclohexanone production.
- R&D collaboration with Ecomat for building materials from industrial wastes.
- Signed MoU with International Inc., Florida, USA, for phosphochalk-based building materials.
- Issued 3,300,000 17.5% preference shares redeemable from 9 February 2002.
1999
- Signed MoU with Planetary Design Corporation (US) for coastal agro industrial project.
- RBI withdrew in-principle clearance for setting up private bank.
- In-principle decision for JV with L&T for Infocity project buildings.
- Entered agro service sector with plant breeding, biofertilisers and tissue culture products.
- Signed tripartite agreement with CDSL and MCS Ltd on 12 November.
2000
- Mr Sudhir Mankad appointed Director replacing Mr K.V. Bhanujan effective 20 October.
2001
- ICRA downgraded NCD and bond programme rating from LAA to LA+.
2002
- Appointed Dr Manjula Subramaniam as Rotational Director.
- Directorship changes: Vipin Malik ceased; Narasimha Raghunath Krishnan appointed UTI Nominee Director; Sudhir Mankad and Subashchandra Ramrao Vengsarkar appointed Additional Directors.
- Considered merger with Gujarat Narmada Valley Fertilisers or disinvestment.
- Rationalised plant load of Urea-I and Melamine-I & II plants.
- Sought relief from Ministry of Chemicals and Fertilizers for capex on 1350 MTPD ammonia plant.
- Completed DAP Expansion Train C of 396,000 tpa at Sikka Unit.
- Government of Gujarat declared GSFC as Relief Undertaking.
- BOD changes: Arvind Dhirubhai Desai and Dr Kesichainula Kameswara Rao ceased; Radhey Shyam Agarwal appointed IDBI Nominee Director.
2003
- Dr Kesichainula Kameswara Rao resigned as Director.
- Mr Ashok Narayan appointed Chairman.
- Mr C K Koshi appointed Director.
- Filed special suit seeking injunction on sale or transfer of mortgaged shares.
- Members approved delisting of equity shares from Ahmedabad, Calcutta, Delhi and Madras Stock Exchanges.
- Won FAI award.
2004
- Won FAI award.
- Voluntarily delisted equity shares from Madras Stock Exchange w.e.f. 12 March, Delhi and Ahmedabad Stock Exchanges w.e.f. 31 March.
2005
- M/s Ghiya & Co appointed as Statutory Auditors.
2006
- Entered agreement to supply fertilisers to Morocco and South Africa for 10 years.
- Incorporated joint venture with company in Tunisia.
2007
- Shri Vishvesh V Vachhrajani appointed Company Secretary & Compliance Officer.
2008
- Recommended dividend of 45%.
2009
- Recommended dividend of 45%.
2010
- Recommended dividend of Rs 4.50 per share (45%).
- Appointed M/s. Prakash Chandra Jain & Co. as Statutory Auditors.
2011
- Ventured for expansion of Nylon-6 Project.
- Recommended dividend of Rs 7.00 per share (70%).
2012
- Dr. Varesh Sinha, IAS appointed Rotational Director.
- Recommended dividend of Rs 7.50 per share (75%).
- Split face value of shares from Rs 10 to Rs 2.
2013
- Executed agreements with Karnalyte Resources Inc. for Wynard Carnallite Project, Canada.
- Inaugurated new Trainees Hostel.
- CM Narendra Modi released Soil Fertility Atlas of Gujarat.
2014
- Launched Neem Coated Urea.
- Received crop productivity award.
- Premier of Saskatchewan met CMD Dr. SK Nanda to enhance business relations.
- Bagged FAI Environment Protection Award for 3rd consecutive time.
- Bagged Golden Peacock Award.
2015
- e-Parivartan bags SKOCH ‘SMART TECHNOLOGY’ Award.
- Bagged FAI Award for Best Production Performance.
2016
- Entered in-principle agreement with Karnalyte Resources Inc. to facilitate debt financing.
- Acquired 19.98% stake in Karnalyte Resources Inc. with offtake agreement for 3.5 lakh tonnes potash from Phase I and 2.5 lakh tonnes from Phase II.
2017
- Executed agreement with ROC to enhance agri growth.
2018
- Inked licence pact with Mitsui Chemicals to set up plant.
- Merger of Bhavnagar Energy Co. Ltd. with Gujarat State Electricity Corporation Ltd.
- Recognized as Top 50 Organizations with Innovative HR Practices (PSUs).
- Received 'Model Employer' award.
2019
- Recognized as Best in Class for Training & Development (PSUs).
2020
- Received SKOCH Order of Merit Award.
2021
- Won 1st prize in Azadi Ka Amrit Mahotsav by Ministry of Environment, Forest and Climate Change.
- Won National Award for Excellence in Cost Management.
- Sardar Brand enters e-commerce business.
- Awarded Excellence in Human Resource Management in Chemical Industry by ICC.
2022
- Decided to invest in rights issue of Karnalyte Resources Inc.
2024
- Commenced commercial production of 132,000 MT Ammonium Sulphate.
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