Kishor Rungta says goodbye to FACT by turning it around.

Kishor Rungta, who helped bring public sector FACT to the top spot in the country’s fertilizer and chemicals industry, has stepped down as CMD after five years in the post. Under his leadership, FACT created a new chapter in the company’s history by achieving the largest market capitalization among fertilizer companies in India, crossing ₹ 56,000 crore. The turnaround from loss to record profits was remarkable and elevated the company to the ranks of dividend-paying companies. It should be noted that FACT was struggling for money when it took over as CMD in February 2019. However, his initiatives have transformed the company from a non-profitable enterprise to a profitable entity. In the last four years, FACT has been consistently profitable with a record profit of ₹ 612.99 ₹ 6,200 in FY23.

Expansion projects In a brief discussion with the business, Rungta said that ₹ 700 crore which are new expansion phases, which are in the commission for an expansion phase. fertilizer factory, tanks for storage of sulfuric acid, phosphoric acid, ammonia and at the wharf in Cochin Harbour. “The future of FACT looks very bright as its production capacity is 15,000 tons from the current 10,000 tons. It will generate good profits in the coming years”, adding that FACT has regained its former glory, achieving 30 percent growth annually during the last five years. The implementation of the employee salary reform significantly increased work morale, which raised the company to new heights and increased the positive and motivated work atmosphere. “Employees are the real asset of any organization and giving them complete freedom will achieve good results”. The revival of the caprolactam factory in 2021 after a nine-year shutdown restored a significant part of the company’s operations. An important milestone was the launch of Pan-India operations, which meant the strategic expansion of marketing activities to both the eastern and western regions of the country.

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