The Fertilisers and Chemicals Travancore Limited (FACT), one of the prominent players in India's fertilizer and petrochemical industry, was handed a positive verdict in an excise duty case. The order has cut down the company's contingent liabilities by a large extent, representing a welcome turn for its financial health and operating prospects.
Key Points
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Excise Duty Case Withdrawn: Cases against FACT regarding payment of excise duty have been withdrawn, giving relief to the company.
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Reduction in Contingent Liability: As per the order, contingent liability of FACT has gone down by ₹565.4 million (₹56.54 crore) on March 31, 2025.
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Financial Impact: This decrease solidifies FACT's balance sheet and can potentially improve its financial standing and investor sentiments.
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Core Business Description: FACT is involved in the production of fertilizers such as ammonium phosphate, ammonium sulfate, and organic manures, and petrochemical products such as caprolactam.
Sources NSE Disclosure of Receipt of Order Market Screener News on FACT