The contract has been awarded to a domestic entity and is scheduled to be executed over a period of 20 months.

GNFC clarified that neither the promoter nor the promoter group has any interest in Toyo Engineering India, and the transaction does not fall under related party transactions.

Gujarat Narmada Valley Fert. & Chem is leading entities engaged in the manufacturing and selling of fertilizers, industrial chemical products and providing IT services.

The company’s consolidated net profit jumped 70.5% to Rs 179 crore on 2.7% rise in revenue from operations to Rs 1,968 crore in Q2 FY26 over Q2 FY25.

Shares of Gujarat Narmada Valley Fertilizers & Chemicals rose 0.10% to Rs 490.05 on the BSE.