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Mangalore Chemicals & Fertilizers is currently trading at Rs. 86.20, up by 2.00 points or 2.38% from its previous closing of Rs. 84.20 on the BSE.

The scrip opened at Rs. 85.45 and has touched a high and low of Rs. 86.50 and Rs. 83.20 respectively. So far 27742 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 132.00 on 17-Oct-2022 and a 52 week low of Rs. 63.00 on 29-Nov-2021.

Last one week high and low of the scrip stood at Rs. 116.45 and Rs. 81.00 respectively. The current market cap of the company is Rs. 1021.60 crore.

The promoters holding in the company stood at 60.54%, while Institutions and Non-Institutions held 3.33% and 36.13% respectively.
 
Mangalore Chemicals & Fertilizers (MCFL) has completed an ammonia energy improvement project at its Mangalore plant and has attained energy efficiency at par with modern plants. The project was implemented at a capital cost of over Rs 400 crore and is expected to deliver significant improvement to the bottom line. To implement this project, the plant, which produces urea and complex fertilisers, was shut down between June-September 2022.

MCFL had converted its urea operation earlier from naphtha to gas based after the receipt of gas in December 2020. As per the extant policies of the government for urea manufacturing companies, there is a mandate to reduce the energy requirement further from December 2025. In the process, MCFL has converted the vintage plant to a highly energy efficient facility at par with modern plants to comply with the target energy norms. Post commissioning, the ammonia production will increase by 25 per cent coupled with reduction in the energy consumption by about 10-12 per cent.

Mangalore Chemicals & Fertilizers is the largest manufacturer of chemical fertilizers in the state of Karnataka.