CFL has said it will import urea for the manufacture of higher nutrient grades of fertiliser such as Urea Ammonium Phosphate 28-28-0, Ammonium Sulphate Phosphates 20-20-0 and 16-20-0, Complex NPK 14-35-14 and Di Ammonium Phosphate 18-46-0.

The board has recommended a dividend of 50 per cent for the financial year 1998-99 as against 30 per cent paid for the previous year. For the year under review, CFL posted a turnover of Rs 484.47 crore as against Rs 472.53 crore in the last year.

During the same period the company has reported a net profit of Rs 46.87 crore resulting in the increase of EPS from Rs 14.13 to Rs 19.27 for the year.

In the current year, CFL has made a offer to buy back 20 per cent of the equity as per sebi guidelines. Accordinglythe company paid up capital would reduce from Rs 24.32 crore to Rs 19.46 crore.