Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) said it has awarded a contract valued at about Rs 3.6 billion to Toyo Engineering India for the supply of an Ammonium Nitrate-II plant on a lump-sum engineering, procurement and construction (LEPC) basis.

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 qualify as a related party transaction.

GNFC is engaged in the manufacture and sale of fertilisers and industrial chemical products, and also provides IT services. In the second quarter of FY26, the company reported a 70.5 per cent jump in consolidated net profit to about Rs 1.79 billion, while revenue from operations rose 2.7 per cent year-on-year to around Rs 19.68 billion.

Shares of Gujarat Narmada Valley Fertilizers & Chemicals ended 0.10 per cent higher at Rs 490.05 on the BSE.