State-run Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) announced on Monday, March 24, 2025, that it has awarded a contract to thyssenkrupp Udhe India Private Ltd (TKUIPL) for the supply of a 600-million tonne per day (MTPD) weak nitric acid-III plant on a Lump Sum Engineering, Procurement, and Construction (LEPC) basis. This follows the company’s board approval granted on August 13, 2024.
GNFC confirmed the agreement through a regulatory filing, stating, “After the Board approval in its meeting held on August 13, 2024, for the installation of a Weak Nitric Acid-III plant of 600 MTPD capacity, i.e. 2,00,000 MTPA, GNFC had agreed with thyssenkrupp Udhe India Private Limited (TKUIPL) for the supply of the Weak Nitric Acid-III plant on an LEPC basis.”
TKUIPL, in collaboration with its parent company thyssenkrupp Uhde, will provide process know-how and licensing for the new plant.
The strategic partnership is expected to enhance GNFC’s production capacity while ensuring adherence to high-quality standards and efficiency in nitric acid production.
The installation of the new Weak Nitric Acid-III plant will significantly increase GNFC’s nitric acid production capacity by approximately 57%.
This expansion is aimed at supporting the company’s downstream operations, strengthening its market presence, and contributing to India’s indigenisation efforts under the “Make in India” campaign.
Currently, GNFC operates two nitric acid plants, both of which are licensed by thyssenkrupp Uhde.
The addition of the third plant will enable the company to meet the growing demand for nitric acid while maintaining its focus on sustainable and environmentally responsible manufacturing.
GNFC emphasised its commitment to environmental conservation, stating that the project aligns with sustainable production practices. “The third plant will enhance the capacity of GNFC by 57% and fulfil the downstream requirement to support the ‘Make in India’ campaign with a commitment to environmental conservation,” the company stated.
On March 25, 2025, GNFC share price traded 1.29% higher at ₹505.05 at 9:40 AM (IST). GNFC share price reached a 52-week high of ₹776.60, and a 52-week low of ₹448.90. As per BSE, the total traded volume for the stock stood at 0.19 lakh shares with a turnover of ₹95.93 lakhs.
According to exchange data, GNFC shares are trading at a price-to-earnings (P/E) ratio of 14.78x, based on its trailing 12-month earnings per share (EPS) of ₹34.16, and a price-to-book (P/B) ratio of 0.90.
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Published on: Mar 25, 2025, 9:51 AM IST
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