Nano urea is revolutionary Liquid Fertilizer and is effective in enhancing the nutritional quality, crop's productivity and additionally, it is environmentally safe. India's urea demand stands at 35 Million metric tons (MMT) per annum, of which nearly 29 MMT is produced domestically while the balance is imported. Government of India targets to eliminate India's dependency on urea imports by 2025 as more farmers adopt the usage of Nano Urea. Additionally, it will help reduce Government's subsidy burden on the conventional urea.

MCNL will incur a capex of Rs 150 crore for setting up the plant in Gujarat. The plants annual capacity is pegged at 5 crore bottles (~500 ml) per year. MNCL is expected to commence the commercial production by Q4 FY24. MNCL projects to achieve a top line of Rs 1,000 crore on an annual basis.