Particulars
of organization
Brief Write Up on the Company
and its Share Capital:
Madras
Fertilizers Ltd was incorporated in December, 1966 as a Joint Venture between
GOI and AMOCO India Incorporated of USA (AMOCO) with equity contribution of 51%
and 49% respectively. In accordance with the Fertilizers Formation Agreement /
Participation Agreement between GOI, AMOCO and National Iranian Oil Company
(NIOC) an undertaking of Government of Iran, NIOC acquired 50% of shareholding
of AMOCO in Nov 1972. Consequently, the shareholding of AMOCO and NIOC were at
24.5% each with balance 51% held by GOI.
In July
1985, AMOCO disinvested their shares, which were purchased by GOI and NIOC in
their respective proportions on 22.07.1985. The revised shareholding pattern
was GOI 67.55% and NIOC 32.45%. After
the Company’s Initial Public Offer in May 1977, the Shareholding pattern is as
follows:
|
|
Rs in Cr |
Percentage
(%) |
|
Government
of NIOC Public |
95.85 41.52 23.73 |
59.50 25.77 14.73 |
|
Total |
161.10 |
100.00 |
The
Company has an authorized share capital of Rs 365 Cr
comprising of Rs 175 Cr as equity and Rs 190 Cr as preference share capital. The Preference Share
Capital is yet to be subscribed. As on 30.09.2005 the paid up equity capital is
Rs 161.10 Cr.
Business Activities
MFL is a
leading producer of complex fertilizers in the country. MFL has an aggregate
capacity to produce 840,000 tonnes of NPK fertilizers
and 486,750 tonnes of urea per annum. MFL has a
dominant position in the South Indian market.
MFL markets its fertilizers under the “Vijay” brand name.
MFL is
involved in the manufacture and marketing of urea and NPK fertilizers and
trading of imported Di-Ammonium Phosphate and Muriate of Potash. The main NPK product of MFL is
For the
Financial Year ended March 31, 2009, MFL
sold an aggregate of 4.15 lac
tonne of UREA fertilizers. MFL achieved revenue of
about Rs. 1123.59 crores in this period.