Madras Fertilisers targets Rs 3000 crore turnover for 2012-13

KOCHI: Madras Fertilisers Ltd. (MFL) is targeting a net profit of Rs 180 crore and a turnover of Rs 3000 crore in 2012-13. The company is planning to import and trade 1 lakh tonnes each of diammonium phosphate (DAP), complex fertilizers and potash during the year, MFL chairman and managing director I Vijayakumar said.

The company had earned a net profit of Rs 112 crore on a turnover of Rs 2207 crore n 2011-12. The company is looking for a joint venture for constructing a power plant and container freight station in 130 acres in its possession at Manali near Ennore port. The company is hoping to convert its feedstock from naphtha to gas in two years to reduce the cost of operation.

MFL operating in all the southern states is engaged in the manufacture of ammonia, urea, complex fertilizers and bio fertilizers. It achieved a record production of its brand Vijay urea at 4.87 lakh tonnes last year.