Please find Business Responsibility and Sustainability Report for the year ended March 31, 2025.
Awaiting price reaction for this filing.
Nagarjuna Fertilizers filed its mandatory Business Responsibility and Sustainability Report for FY2024-25 under SEBI's Listing Regulations. The report reveals severe operational disruption: the company's ammonia and urea plants were shut down in early June 2024 after lenders took over and sold the core assets under the SARFAESI Act on May 31, 2024, raising going concern issues since the June 2024 quarter. Turnover for FY25 stood at Rs. 703.19 crores, while net worth was deeply negative at Rs. (1,444.83) crores, indicating liabilities far exceed assets. The permanent employee count collapsed to just 41 (from 673 the prior year), with worker strength reduced to zero, and employee turnover spiked to 90%. The company also paid Rs. 1.94 lakh in penalties to BSE and NSE for delays in submitting quarterly financial results and related-party transaction disclosures.
This BRSR disclosure confirms that Nagarjuna Fertilizers' manufacturing operations have effectively ceased, the company is in financial distress with negative net worth, and the going concern flag is a serious red flag for shareholders. The drastic workforce reduction and asset sale under SARFAESI suggest the equity story has materially changed, though the stock may already reflect much of this given these events occurred in mid-2024.