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Gujarat Narmada Valley Fertilizers & Chemicals Limited

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Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) concluded a strong fiscal year, with Q4 profit after tax surging 87% year-over-year to ₹392 crore, driven by favorable chemical realizations and reduced input costs. The company’s board approved a substantial dividend of ₹21 per share, reflecting improved annual profitability, and is progressing with a ₹2,100 crore brownfield expansion project. While fertilizer segment performance was somewhat impacted by government energy norms, GNFC also bolstered its stake in Gujarat Alkalies and Chemicals Limited (GACL), and appointed B S R & Co. as its statutory auditors, signaling continued operational focus and strategic alignment. Investors should monitor the impact of a ₹21,370 crore demand notice from the Department of Telecommunications alongside the progress of the expansion projects.