Mangalore Chemicals & Fertilizers Share Price

Mangalore Chemicals Fertilisers, a part of UB Group, is incorporated in 1966 as Malabar Chemical Fertilisers Pvt Ltd, engaged in the business of manufacturing Ammonia, Urea, Diammonium Phosphate and Ammonium bicarbonate. The main product, Urea, is marketed under the brand Mangala . The company was originally promoted by Duggal Enterprises Pvt Ltd, International Development Investment Company, Bahamas and the Karnataka Government. The company went public in the next year of its incorporation ie in 1967. In December 1991 it was renamed as Mangalore Chemicals Fertilizers (MCF).The company came into the fold of UB Group in 1990, after it was selected to bail out the ailing company by the chief promoter of the company Karnataka Government in conjunction with the Institutions/Banks led by IDBI SBI. UB Group suspended the operations of MCF due to labour unrest during 1992. Subsequently, MCF became a sick unit and was referred to the BIFR. In 199596, many of the concessions sought in the revival plan prepared by the UB Group including the introduction of SPIC and Emirates Trading Agency as copromoters. This were not accepted by the Government of Karnataka, Banks, and Government of India. BIFR directed IDBI, the operating agency, to issue an advertisement calling for bids. No acceptable bid was, however, received and accordingly, BIFR directed the existing promoter to submit its final revival proposal. The proposal is being actively pursued by the UB Group for the revival of the company.In April, 2000 the company completed the first phase of the revamp of the Ammonia/ Urea plants at a cost of Rs.53 crores. A pipe reactor, a new preneutralizer and an efficient dedusting system were installed. In 201011, the Company introduced two unique concepts viz. Mangala Mitra and Mangala Saathi. It introduced Plant Protection (PP) Chemicals business in July 2010. It further launched two products in the Mangala brand name, viz., Mangala Mahakill an insecticide and Mangala Samhar, a Herbicide.It commissioned a Specialty Fertilizer manufacturing facility in April 2011 with an annual capacity of 12,000 MTs at its factory in Mangalore to produce Water Soluble Fertilizers and Micronutrient Mixtures. It launched three products in the Mangala brand name, viz., Mangala Mahacardo (an insecticide), Mangala COC (a fungicide) and Mangala Pardic (a weedicide) in 2013. It introduced two products in the Mangala brand name, viz., Mangala DiDips (an insecticide) and Mangala Surakshit (a fungicide) in 201415. The LNG terminal at Kochi was commissioned in September 2013. 3 new dual feed Diesel Generators were commissioned in 2012 and 3 new dual feed Diesel Generators have been procured from Wartsila, Finland and installed to complete changeover in CPP in 201314. It commissioned the Gas Conversion Project of Urea operations in June, 2014 costing around Rs 315 Crores. It launched four insecticides in Mangala brand, viz., Mangala Bold, Mangala Hytop, Mangala Phoramcf and Mangala Monster, and one fungicide, viz., Mangala Akraman in 201516. The Companys Ammonia Plant Energy Reduction Project was commissioned in June 2017. The Roof Top Solar Photo Voltaic System with a capacity of 251.23 kWp at Mangalore plant was commissioned in January 2019. The KKBML Natural Gas Pipeline from Kochi to Mangalore was completed by GAIL and Natural gas was charged to the Companys factory battery limit on 23rd November 2020. The natural gas based urea production was started after testing and commissioning protocols on December 12, 2020 and full load production was achieved on December 15, 2020.The Ammonia Plant Project was completed and production was commenced in September 2022. The revamp also increased about 25% capacity in Ammonia production substituting the part of Companys ammonia import.