Mangalore Chemicals & Fertilizers Ltd. has announced that the Board of Directors of the company at its meeting held on May 16, 2013, has recommended a dividend of INR 1.20 per equity share of nominal value of INR 10 for the financial year 2012-13, subject to the approval of the shareholders. The dividend will be paid/dispatched to the shareholders within 30 days from the date of such approval.

Mangalore Chemicals & Fertilizers Limited reported audited standalone earnings results for the fourth quarter and full year ended March 31, 2013. The company posted about 22% drop in standalone net profit at INR 168.4 million, as sales dropped due to poor demand in drought-hit states and rise in prices of non-urea fertilizers. The company had clocked a net profit of INR 214.6 million in the same period last financial year. Net sales/income from operations declined sharply by 36% to INR 6,498.0 million as against INR 10,146.6 million in the same quarter last year. Profit from operations before other income, finance cost and exceptional items was INR 463.778 million against INR 744.710 million a year ago. Profit from ordinary activities before tax was INR 183.710 million against INR 316.555 million a year ago. Earnings per basic and diluted share were INR 1.42 against INR 1.81 a year ago. For the year, the company reported a marginal fall in its net profit to INR 665.7 million from INR 690.9 million in the previous fiscal. Net sales/income from operations of declined to INR 27,795.8 million from INR 37,070.0 million in the review period. Profit from operations before other income, finance cost and exceptional items was INR 1,457.641 million against INR 1,666.762 million a year ago. Profit from ordinary activities before tax was INR 692.412 million against INR 1,024.690 million a year ago. Earnings per basic and diluted share were INR 5.62 against INR 5.83 a year ago.

Mangalore Chemicals & Fertilizers Limited announced that they will report fiscal year 2013 results on May 16, 2013