homebusiness Newscompanies NewsGSFC expects 25% revenue growth this year but margin may be under pressure
GSFC expects 25% revenue growth this year but margin may be under pressure
Gujarat State Fertilizers and Chemicals (GSFC) expects more than 25 percent growth in revenue this year, the management told CNBC-TV18.
Gujarat State Fertilizers and Chemicals (GSFC) expects its revenue to grow more than 25 percent this year, the company said on Thursday.
“We see more than 25 percent growth in the topline this year because all the prices are inflated compared to a normal average,” VD Nanavaty, ED and CFO of the company, told CNBC-TV18 in an interview.
Nanavaty, however, said margin could be under pressure in industrial products. He explained that gas prices are making new records every month due to the Russia-Ukraine conflict and that has been affecting the company’s operations.
Gas prices continue to surge as the Asian benchmark spot liquefied natural gas (LNG) price jumped close to $60 per million British Thermal Units on Tuesday, August 16, which is the highest level since early March.
Meanwhile, though GSFC shares were trading marginally lower today, in the past month, the stock has given a return of more than 15 percent as against the benchmark Sensex which has risen a little over 10 percent during the period.
For the entire interview, watch the accompanying video
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