Gujarat Fluorochemicals

Gujarat Fluorochemicals Limited
Company typePublic, part of InoxGFL Group
BSE: 500173
NSE: FLUOROCHEM
IndustryIndustrial gases
Founded1987[1]
HeadquartersInox Towers
Noida, Uttar Pradesh, India
RevenueIncrease ₹5,775 crore (US$680 million) (FY23)[2]
Increase ₹1,328 crore (US$160 million) (FY23)[2]
Websitewww.gfl.co.in

Gujarat Fluorochemicals Limited (GFL) is an industrial refrigerant manufacturer in India. It is one of the largest producers (by volume) of chloromethane, refrigerants and polytetrafluoroethylene (PTFE).[3]

History

The company was incorporated in 1987, is a subsidiary of Inox Leasing and Finance Limited. GFL has two manufacturing facilities in Gujarat, a refrigerant plant at Ranjitnagar near Ghoghmba town Panchmahal, and a PTFE facility at Dahej.[4][5] It has two subsidiaries - Gujarat Fluorochemicals Americas LLC and Gujarat Fluorochemicals GmbH to cater Americana and European operations respectively.[citation needed]

Controversies

In 2000s, the company was embroiled in "shoddy practice" of destroying HFC 23, a byproduct released in the coolant-making process at its plant at Nathkuva village in Halol. In return, company was earning "lucrative" carbon credit.[6] As per the 2010 Hindustan Times reporting, the company earned nearly half of its revenue for FY 2009-2010 from the sale of carbon credits.[7]

Accidents

  • On 16 December 2021, 7 people died and 23 others were injured in a blast that took place at GFL's refrigerant manufacturing plant in Ranjitnagar village, Ghoghamba taluka of Panchmahal district.[8][9][10]

References

  1. ^ "Archived copy" (PDF). Archived from the original (PDF) on 18 February 2017. Retrieved 21 September 2016.{{cite web}}: CS1 maint: archived copy as title (link)
  2. ^ a b "Gujarat Fluorochemicals Ltd Q4FY23 consolidated PAT up at Rs. 331.88 crores". EquityBulls. 5 May 2023. Retrieved 8 July 2023.
  3. ^ indiainfoline.com. "Deepak Asher, Director & Group Head (Corporate Finance), Gujarat Fluorochemicals". Retrieved 21 September 2016.
  4. ^ "About Gujarat Fluorochemicals Limited".
  5. ^ "Gujarat fluorochemicals ltd Stock/Share Price, Live BSE/NSE Gujarat fluorochemicals ltd Price, Gujarat fluorochemicals ltd Financial News at www.Indiainfoline.com".
  6. ^ Rosenthal, Elisabeth (8 August 2012). "In a Factory's Shadow, Fears About Health". The New York Times. ISSN 0362-4331. Retrieved 18 December 2021.
  7. ^ "Carbon credit scam slur on Indian firms". Hindustan Times. 1 September 2010. Retrieved 18 December 2021.
  8. ^ "Death toll rises to 7 in chemical factory blast in Gujarat's Panchmahal district | Ahmedabad News - Times of India". The Times of India. ANI. 18 December 2021. Retrieved 18 December 2021.
  9. ^ ANI (18 December 2021). "7 dead, 23 injured in a chemical factory blast in Gujarat's Panchmahal". Business Standard India. Retrieved 18 December 2021.
  10. ^ "Gujarat: Explosion at chemical factory leaves 5 dead, 15 injured". The Indian Express. 17 December 2021. Retrieved 18 December 2021.