PetroVietnam Ca Mau Fertilizer Joint Stock Company was for the first time in the list of "50 best listed companies in 2021", as announced by Forbes Vietnam.
Forbes Vietnam rankings for this year are distributed in 15 business lines, including two enterprises operating in the field of fertilizer and chemical. PetroVietnam Ca Mau Fertilizer Joint Stock Company (Ca Mau Fertilizer, HOSE: DCM) is the only enterprise in this field, appearing in this list for the first time.
Along with other businesses, PetroVietnam Ca Mau Fertilizer has to pass two rigorous rounds of testing. The company has met the criteria in the quantitative assessment round of the compound growth rate of revenue, profit, ROE, ROC, EPS growth in the last 5 years. PetroVietnam Ca Mau Fertilizer undergoes another round of qualitative investigation by Forbes Vietnam to assess its sustainable development, according to the criteria of position in the industry, profit origin, management quality, industry development prospects...
The representative of the management board of the company said that over the years, the company has maintained sustainable growth, bringing value to shareholders and customers. The 10-year milestone of establishment in 2020, the company achieved a record revenue of VND 7,700 billion, exceeding 11% of the plan. Profit before tax reached over VND 716 billion, increased by 40% compared to the plan and 55% compared to last year.
PetroVietnam Ca Mau Fertilizer pursues the business philosophy of providing nutritional solutions for agricultural production and for farmers. This enterprise has continuously improved the quality of environmentally friendly products as well as researched new products for plants. Responding to drought and salinity conditions in the Southwest is also one of the top priorities of Ca Mau Fertilizer.
"This time last year, the company tried to develop towards the goal of leading, establishing a new position in the fertilizer market in Vietnam and successfully implemented it," said a representative of PetroVietnam Ca Mau Fertilizer. Last year, the total production and trading volume exceeded 1 million tons, accounting for 10% of the domestic market share. The average annual product consumption rate increased by 9.12%. When the Ca Mau NPK factory was put into operation, the growth potential is more affirmative. The company also actively expands its participation in the international market, prioritizing Southeast Asia, South and North America to solve the problem of oversupply in the country.
"This year, the company aims to maintain the financial targets of double-digit growth and develop and complete the fertilizer distribution channel to strengthen its position as a leading enterprise in the industry," said the representative of the company. "Consolidated revenue is expected to increase 12% to VND 7,664 billion and profit after tax to increase 38% to VND 662 billion".
As stated in the financial report for the first quarter of 2021, revenue and profit of of PetroVietnam Ca Mau Fertilizer respectively reached VND 161 billion (up 61%) and VND 152 billion (increased by 64%).
Representative of Forbes magazine said that, after more than a year of coping with the pandemic, the business results of 50 businesses on this list still show the ability to turn around and boldly invest to find opportunities amid difficulties. Business activities have many disturbances, but these businesses still establish and maintain competitive positions in the market.
According to data recorded by Forbes, the total revenue of 50 enterprises reached VND 1.21 million billion and profit after tax of more than VND 174,000 billion, increased by 9% and 26% respectively over the previous year. Total capitalization reached 145 billion USD, equivalent to 3.36 million billion VND and increased by 78% compared to the list of 2020.