Indian investors are becoming more optimistic about the outlook for the sector as we approach the budget meeting on 1 February 2023. Producers are demanding measures such as higher import tariffs on technologies and formulations to boost local producers.
Another key requirement is the availability of LNG for fertilizer companies through the Indian Gas Exchange. This exchange is designed to eliminate the need for buyers to contact multiple sellers to get a fair price.
Amid continued optimism, here are three small fertilizer stocks that rose more than 7% in the early hours of Tuesday.
Kunitachi Fertilizer Co., Ltd.
Shares of National Fertilizers opened at Rs 63.70 and rose more than 7% to trade at the Rs 67.60 level in the early hours of Tuesday. Over the past six months, the stock has risen more than 44%.
National Fertilizers Limited is engaged in the manufacture and sale of domestic fertilizers, compost, seeds and other agricultural products. Some of them include neem-coated urea, biofertilizers (solid and liquid), and other related industrial products.
The company has yet to announce its third quarter. The second quarter of FY23 reported gross revenue of Rs 6,756.69 Crore and net profit of Rs 24.75 Crore. The company has a market capitalization of Rs 3,311 Crore.
Mangalore Chemicals and Fertilizers Limited
Shares of Mangalore Chemicals & Fertilizers opened 7% higher at Rs 79.85 at the Rs 87.80 level on Tuesday. The stock is trending downward, down more than 27% over the past six months.
Mangalore Chemicals & Fertilizers Limited is the largest fertilizer manufacturer in Karnataka. Advent Group he is a subsidiary of Zuari Fertilizers and Chemicals Limited.
In Q3 FY2023, the company reported a total revenue of Rs 1,173.24. This was a 54% increase from his Rs 76.17 crore in the same period last year. Net profit increased by 145% to Rs 7.616 crore compared to Rs 3.107 crore in Q3 FY2022. The company has a market capitalization of Rs 1,012 Crore.
Southern Petrochemical Industries Corporation Limited
Shares of Southern Petrochemical Industries Corporation opened the session at the Rs 70.60 level and rose another 6% to reach an intraday high of Rs 74.40. In the past six months, the stock has risen more than 40% of his.
Southern Petrochemical Industries Corporation (SPIC) Limited is one of the country’s leading fertilizer producers. The company has a production capacity of 6.2 million tons of neem coated urea.
The company has yet to announce its third quarter. The second quarter of FY23 reported gross revenue of Rs 708.06 Crore and net profit of Rs 106.76 Crore. The company has a market capitalization of Rs 1,501 Crore.
Written by Anoushka Roy
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