Iffco Acquires 1.12 Per Cent Stake in NCDEX for Rs 10 Crore: Report
Country’s largest fertiliser cooperative IFFCO has posted 18.48 per cent increase in its turnover at Rs 24,700 crore in the 2014-15, buoyed by higher sales of soil nutrients. The cooperative’s turnover stood at Rs 20,846 crore in the previous fiscal. “IFFCO achieved the turnover of Rs 24,700 crore despite weak domestic and global economic scenario in current policy framework,” its Managing Director U S Awasthi said. The fertiliser sales increased to 111 lakh tonnes in the 2014-15 fiscal from 96.42 lakh tonnes in the year-ago, he said, adding the company sold both in-house manufactured fertiliser as well as that imported. IFFCO has five fertiliser plants in the country one each at Paradeep in Odisha, Kandla and Kalol in Gujarat, and Phulpur and Aonla in Uttar Pradesh. It has combined capacity of 42.42 lakh tonnes of urea and 43.80 lakh tonnes of complex fertilisers.