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CMD's Desk

CMD’s Desk

Shri Kishor Rungta

Dear Colleagues, 

It gives me immense pleasure to greet you all through this newsletter.  Hope everyone enjoyed celebrating Nation’s 75th Independence Day and ONAM though restrictions are imposed due to pandemic.

Our Nation was hit hard by the pandemic; many lives were lost and many lost their livelihoods. Pandemic has changed the entire world order. Social distancing and masks are new norms.

It is disheartening to recall that the devastating pandemic took its toll on FACT employees stealing some lives of our beloved colleagues. My prayers are with those affected by the pandemic and let us hope that the almighty may extend strength to them to overcome this calamity and bounce back to normal life soon.

FACT as a responsible corporate citizen always stands in solidarity with society and extended all possible assistance to the Country during the peak time of Covid-pandemic by setting up PSA Oxygen plants in the States of Kerala and Uttar Pradesh. We have also helped the nearby affected community by providing essential items.

It is said, ‘Adversity reveals strength’. I have witnessed from my past experiences that FACT always emerges stronger after each crisis. We have overcome herculean challenges several times in the past and we have the perseverance and steadfastness to stand up to any kind of challenge.

Even under all these adversities, it is heartening to note that our organization is scaling new heights with record production and sale of Factamfos and Ammonium Sulphate. Our company has recorded all-time high operational profit of ₹352 Cr. and we have achieved a turnover of ₹3259 Cr. for the last financial year. We have also showcased excellent performance in the first quarter of current financial year by posting an all-time high profit of ₹40 Cr.

To increase the fertilizer production, we are moving ahead with the capacity expansion which will add 5 lakhs MT fertilizer. With the commissioning of the new NP plant the fertilizer production capacity of the Company will reach 15 lakhs MT.

The Company has always kept in mind the welfare of its employees. I am delighted to inform you that Management has favourably considered the proposals to increase the retirement age from 58 to 60 years and the implementation of 2017 wage revision.  The proposals have been sent to the Government of India for approval.

As a result of our dedicated effort and hard work, the company has restarted the operations of Caprolactam plant.  The country is importing 50 percentage of Caprolactam for the domestic needs. With the restart of the production in FACT, it is expected to be a major import substitution. The resumption of operations of the Plant will also definitely help to increase the turnover of the Company in the coming years to a great extent.

I once again express my sincere gratitude to all of you for the sincere and dedicated efforts for the great performance and turnaround of our organization.
 
My Best Wishes to all of you.


                                                                                                         Kishor Rungta
                                                                                            Chairman & Managing Director
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