CMD's Desk

CMD’s Desk

Shri Kishor Rungta
Independence Day Message

My dear colleagues, ladies and gentlemen,

A very warm good morning, and My Independence Day greetings to each one of you.

Today, as we gather to celebrate the 77th Independence Day of our beloved nation, India, it fills my heart with immense pride and joy to address this august gathering. On this auspicious occasion, I would like to extend my heartfelt gratitude to each and every one of you for your unwavering effort and dedication, which has led our company to achieve new heights of success.

Independence Day is not only a time for us to remember and honor the sacrifices of our forefathers who fought tirelessly for our freedom but also an occasion for us to reflect on the values that make our nation strong – united, resilience, and diverse. As a company, we have also upheld these values in our work culture, and that's what makes us stand out.

For every Indian, this day is marked on our calendars as a celebration of our sovereignty. Our Tricolor is a symbol of our national pride. It is a constant reminder of our striving and our self-belief. Our independence was the result of years and decades and centuries of sacrifice and valour on the part of our ancestors and our freedom fighters. We should thankfully remember those freedom fighters who have contributed selfless sacrifice for the freedom of the country. 

This day also marks the culmination of India’s 75th year of Independence i.e, Azadi Ka Amrit Mahotsav. The official journey of Azadi Ka Amrit Mahotsav commenced on 12th March 2021 which started a 75-week countdown to our 75th anniversary of independence and will end on 15th August 2023.
Azadi Ka Amrit Mahotsav aims to further boost this peoples’ movement through collaborative campaigns and outreach across India and the world.

This year of celebrating Independence day is the proudest moment for all of us who have been a part and parcel of FACT as We are also celebrating our 75 years of fertilizer production.

We broke all the financial records and were able to deliver a strong financial performance during the year 2022-23. Despite many uncertainties in the global market, we were able to achieve operational profit of Rs 613 Crore as against Rs 353 Crore during the previous financial year.  In the last financial year, the Company also achieved a turnover of Rs 6198 Crore as against Rs 4425 Crore in the previous year.

Our market capitalization also crossed Rs 30,000 Cr.

As you all know, our CAPEX projects are also progressing at full swing. We have already completed some of the capex project such as
New ammonia barge, Pearl of Periyar,
New sulphuric acid tank at CD and
Reconstruction of South Coal Berth.

Other projects are also progressing at full swing; with the commissioning of our new plant, we will have another five lakh metric tons of fertilizer production.

We could also implement schemes like PD operation on KSEB power and RLNG conversion of CD startup boilers which could bring in considerable savings to the company.

This year, we restarted importing fertilizer to cater to the needs of our farmers. We have already imported one shipment of NP 15:15:15 which was well received in the market. We are planning for import of 2 Lakh MT of fertilizers this financial year.

The parliamentary standing committee on Chemicals and fertilizers on their visit to FACT appreciated FACT on our exceptional performance.

FACT has turnaround its performance and company is going to move ahead to past glory.

We are now net worth positive and a dividend paying company. our total accumulated losses have been wiped out.

This is the celebration of FACT’s legacy and the commitment put forth by the entire team. Our employees are the backbone of this organization, and it is your hard work, determination, and commitment that have contributed to the excellent performance of the company. The past year has been filled with challenges, but together, we have navigated through the toughest of times and emerged stronger.

This year we could also implement various schemes for the welfare of our employees. Like Pay revision was implemented, allowances for all the employees through cafeteria approach was implemented.   Company also could extend the support to our society through our CSR projects.  

I am sure, with our collective efforts, we will continue our successful journey in the current year also. I earnestly look forward to untiring and dedicated efforts from all my colleagues for the continuous march of FACT on the path to prosperity. Together let us dedicate ourselves to the growth of FACT which leads to the prosperity of India.

While appreciating such high levels of performance, I would call upon each one of you to keep up this tempo and also remind you that records are for breaking. With all your support we can put forth even more excellent performance and turnaround of the company.

Today the nation is honoring a few persons who have upheld the national interest ahead of their own personal interests, even by laying down own lives. While saluting all those courageous and dedicated sons and daughters of this nation, we in FACT also honor some of our employees with Performance Excellence Certificates.  My hearty congratulations to all the winners and wish them much better performance in the coming days.

As we celebrate Independence Day today, let us also remember that freedom comes with responsibilities. As a responsible corporate citizen, it is our duty to contribute to the progress and prosperity of our nation and our organization. We must continue to uphold the highest ethical standards, promote sustainable practices, and make a positive impact on the lives of others and the communities we serve.

Once again my Independence Day Greetings to each one of you. And also we are going to celebrate the most awaited ONAM, and for which I extend my good wishes to you and your family.

Kishor Rungta
Chairman & Managing Director