Zuari Industries is a joint venture between the K K Birla Group and the US Steel Corporation. Formerly, Zuari Agro Chemicals, the company promoted Chambal Fertilisers and Chemicals and acquired 74 per cent stake in Paradeep Phosphates through Zuari Moroc Phosphates (P) Ltd, a 51:49 JV between Zuari and Moroc Phosphore, SA, Morocco. The acquisition has made Zuari the largest producer of fertiliser in private sector in India. Paradeep Phospates owns the second largest integrated DAP plant in India with a total installed capacity of 720,000 MTPA. The fertiliser division is the major revenue generator for the company contributing around 95 per cent of the topline.
The production of 272,670 MT of Sampurna achieved during 2004-05 is its highest along with production of 330,687 MT of Samarth and Samrat. Besides, the company is into manufacturing and distribution of ammonia, fertilisers, pesticides and urea as well as marketing of seeds. It also has significant investments in a diverse range of products from chemicals to software to assembled furniture, etc. The company recently entered into a contract in a petrochemical complex with the MANSO Group of Saudi Arabia. The company plans to convert its naphtha-based units into natural gas or LNG after the Government`s directive to convert all the Naphtha, Fuel Oil based and LSHS based fertiliser units into natural gas or LNG as its feedstock. Financials The company disclosed a steep drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 35.32% to Rs 200 million from Rs 309.20 million in the same quarter last year. Net sales for the quarter rose 2.85 times to Rs 20,509.20 million, while total income for the quarter jumped 2.84 times to Rs 20,531.50 million, when compared with the prior year period.
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