Mumbai
Nishant Kanodia, promoter of Matix Fertilisers and Chemicals Ltd, has been appointed Chairman of the company. He succeeds the late Yogendra Kanodia.
In his previous role as Vice Chairman, a company press release says, Nishant Kanodia had been providing strategic direction to Matix with a focus on capital raising, growth and diversification that has led to its current position as one of India’s fastest-growing fertilizer companies. He has been driving Matix’s turnaround, including the induction of professional and experienced leadership with a successful track record in the fertilizer industry.
An MBA from the Wharton School, University of Pennsylvania, Kanodia is a member of the Mumbai Chapter of the Entrepreneurs Organisation (EO) and Young President Organisation (YPO).
“It’s an honour and privilege that Matix’s Board has entrusted me with this special responsibility,” Kanodia said. “I will strive to ensure that the company not only continues to focus on growth and profitability, but also sets benchmarks in professional management, governance, sustainability, and social responsibility.”
“The current growth trajectory of Matix is owing in large measure to Nishant Kanodia’s vision, dynamism, commitment, and people-orientation”, said Manoj Mishra, MD of the company. “We look forward to his strategic guidance and direction to take Matix to greater heights.”
Matix is one of India’s fastest-growing fertilizer companies, says the release. It owns and operates a fully-integrated, gas-based urea plant in Panagarh, West Bengal, whose 1.27 MTPA capacity makes it one of India’s largest “single stream” fertilizer plants. “Dr Fasal” brand of the company is the leader in India's Eastern market for urea fertilizer with a 25% market share, powered by a strong distribution network of nearly 700 dealers.
The plant has a 54 MW captive power unit, dual-rake railway siding, and utilities spread across a campus of approximately 500 acres. The company has a 20-year long-term gas supply agreement with GAIL, India’s largest gas supply company. The plant is covered as a greenfield project under the Government of India’s (GOI) New Investment Policy for Urea.