Madras Fertilizers Ltd was incorporated in December, 1966 as a Joint Venture between GOI and AMOCO India Incorporated of USA (AMOCO) with equity contribution of 51% and 49% respectively. In accordance with the Fertilizers Formation Agreement / Participation Agreement between GOI, AMOCO and National Iranian Oil Company (NIOC) an undertaking of Government of Iran, NIOC acquired 50% of shareholding of AMOCO in Nov 1972. Consequently, the shareholding of AMOCO and NIOC were at 24.5% each with balance 51% held by GOI.
In July 1985, AMOCO disinvested their shares, which were purchased by GOI and NIOC in their respective proportions on 22.07.1985. The revised shareholding pattern was GOI 67.55% and NIOC 32.45%. After the Company’s Initial Public Offer in May 1977, the Shareholding pattern is as follows:
|Rs in Cr||Percentage (%)|
|Government of India||95.85||59.50|
The Company has an authorized share capital of Rs 365 Cr comprising of Rs 175 Cr as equity and Rs 190 Cr as preference share capital. The Preference Share Capital is yet to be subscribed. As on 30.09.2005 the paid up equity capital is Rs 161.10 Cr.
MFL is a leading producer of complex fertilizers in the country. MFL has an aggregate capacity to produce 840,000 tonnes of NPK fertilizers and 486,750 tonnes of urea per annum. MFL has a dominant position in the South Indian market. MFL markets its fertilizers under the “VIJAY” brand name. MFL is involved in the manufacture and marketing of urea and NPK fertilizers and trading of imported Di-Ammonium Phosphate and Muriate of Potash. The main NPK product of MFL is 17:17:17. Other NPK/NP grades produced by MFL include 14:28:14, 19:19:19, 20:20:0 and 18:46:0 (DAP). MFL’s other businesses include manufacture and marketing of agrochemicals, biofertilizers and Insurance marketing with tie up from ING-VYSYA. For the Financial Year ended March 31, 2009, MFL sold an aggregate of 4.15 lac tonne of UREA fertilizers. MFL achieved revenue of about Rs. 1123.59 crores in this period.ORGANISATION CHART
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