A farmer shows soil mixed with fertilizers (Photographer: Riccardo Gangale/Bloomberg)

Madras Fertilizers Expects To Return To Black By March 2019

Madras Fertilizers Ltd. expects to turn in a profit by March 2019, its Chairman and Managing Director AB Khare said. The company has been posting loss since March 2014, according to data compiled by BloombergQuint .

It has requested the government to waive off Rs 1,000 crore, including Rs 500 crore interest accumulated for the loan it took in the 90’s, Khare told BloombergQuint in an interview.

The company’s debt stands around Rs 1,387 crore as of March 31, 2017, according to its financial statement.