GNFC said the planned shutdown of the TDI-II plant at Dahej in Gujarat was due to prevailing challenging external environment and market conditions of TDI. The announcement was made after market hours on Friday, 27 December 2019.
Shares of GNFC were trading 0.18% lower at Rs 169.05. The stock has tumbled 16.48% in last three months.
On consolidated basis, GNFC reported a 71.5% decline in net profit to Rs 85.07 crore on an 18.8% drop in net sales to Rs 1332.35 crore in Q2 September 2019 over Q2 September 2018.
GNFC is engaged in manufacturing and selling fertilizers such as urea and ammonium nitrophosphate under the umbrella Narmada.