New Year Message
My Dear Colleagues,
New Year has arrived. I wish all my colleagues a very happy, healthy 2021. May this New Year bring lot of positivity, good health and happiness to all.
It gives me immense pleasure to communicate to the FACT family on this occasion. 2020 has changed the human lifestyle dramatically. Labeled as a black swan event and likened to the economic scene of World War II, the outbreak of COVID-19 has had a detrimental effect on the global healthcare system. As countries implement necessary quarantines and social distancing practices to contain the pandemic, the world has been put in a Great Lockdown. The magnitude and speed of collapse in activity, that has followed the pandemic, is unlike anything experienced in our lifetime.
Though this was a year of extreme economic challenges for the world, I am happy to say that the committed efforts put in by us last year has become a milestone in the history of FACT. FACT was able to surpass its targets and could showcase one of the best financial performances in the recent years.
As the year is drawing to a close, it is with great pride, I am presenting that FACT has come up with outstanding performance during 2019-20 and maintaining the same tempo for the current year 2020-21, creating new records in production and sales of Factamfos and Ammonium Sulphate and showing excellent results in the financial front.
FACT is now going from strength to strength, declaring profit in Q2 and for the first half year. We have made profit of about Rs.83 crore during the quarter. That is an all-time high operating profit reported in a quarter by the company. The highlights of the quarter include all time high Ammonium Sulphate production of 0.69 lakh tonnes and a Factamfos production of 2.36 lakhs tonnes, excellent sales of 3.58 lakh tonnes of Factamfos & Ammonium Sulphate together. MOP sales stood at 0.46 lakh tonnes and imported NPK sales at 0.26 lakh tonnes. We have completed trial runs in Caprolactum Plant and are preparing for continuous production from next financial year.
As you all are aware, FACT celebrated the 100th Birth Anniversary of Late M K K Nayar, the first Managing Director after FACT became a PSU, in a befitting manner. On the occasion, Hon’ble Chief Minister of Kerala, Shri Pinarayi Vijayan, Shri Hibi Eden, Hon’ble Member of Parliament, Shri A D Sujil, Chairman, Eloor Municipality, and other dignitaries visited FACT and, in a solemn ceremony held at Udyogamandal Club, paid floral tributes to Late M K K Nayar. FACT has been privileged to have the presence of the Hon’ble Chief Minister among us for celebrating the birth anniversary of Shri M K K Nayar.
I see the dreams of Late M K K Nayar being fulfilled in the coming future. Let’s hope that our team will reach greater heights in the years to come, bringing back the past glory, diversify and reap the fruits of hard work, commitment and sincere efforts put in by them. The future is going to usher in a glittering era.
Wishing you all once again a Happy & Prosperous New Year 2021.
Udyogamandal Kishor Rungta
January 1, 2021 Chairman & Managing Director