Chambal Fertilisers & Chemicals (CFCL) has seen a slight increase in its promoter shareholding as The Hindustan Times Limited acquired additional equity shares through open market transactions.

Stake Increase Details

The Hindustan Times Limited, a promoter of Chambal Fertilisers & Chemicals, purchased 41,242 equity shares of the company on September 1, 2020. This acquisition was made through open market transactions.

Updated Shareholding

As a result of this purchase, The Hindustan Times Limited's shareholding in Chambal Fertilisers & Chemicals has increased from 58,642,773 shares to 58,684,015 shares. In percentage terms, this translates to an increase from 14.09% to 14.10% of the total equity share capital.

Company Overview

Chambal Fertilisers & Chemicals has a total equity share capital of 416,207,852 shares, valued at Rs. 4,16,20,78,520. The company's shares are listed on two major Indian stock exchanges:

1. BSE Limited
2. National Stock Exchange of India Limited

This latest move by The Hindustan Times Limited underscores the promoter's ongoing commitment to Chambal Fertilisers & Chemicals.

Chambal Fertilisers & Chemicals , a leading player in the fertiliser and crop protection sector, has released its financial results for the third quarter ended December 31, 2023, alongside completing a significant share buyback program.

Financial Performance

The company reported a mixed set of numbers for Q3 FY2024:

• Revenue: Chambal Fertilisers saw a substantial decrease in revenue from operations, which stood at Rs 4,348.57 crore compared to Rs 8,296.21 crore in the same quarter last year, marking a 47.60% year-on-year decline.
• Profit Before Tax: Despite the revenue drop, the company's profit before tax increased to Rs 608.32 crore, up from Rs 495.12 crore in the previous year's quarter, representing a 22.86% growth.

Segment Performance

Chambal Fertilisers operates in two main segments:

1. Own Manufactured and Complex Fertilisers
2. Crop Protection Chemicals and Speciality Nutrients

Specific segment-wise performance details were not provided in the report.

Share Buyback

Chambal Fertilisers completed a share buyback program:

Corporate Governance

The financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors at their meeting held on February 6, 2024.

Market Context

While the revenue decline is significant, the fertiliser industry often experiences fluctuations due to factors such as raw material prices, government policies, and seasonal demand. The improvement in profit before tax suggests that Chambal Fertilisers may have implemented effective cost management strategies or benefited from favorable input costs during the quarter.

Note: All financial figures are in Indian Rupees (INR).