NINH BINH NITROGENOUS FERTILIZER LTD. COMPANY (CÔNG TY TNHH MỘT THÀNH VIÊN ĐẠM NINH BÌNH) is a large-scale nitrogen fertilizer manufacturer owned by Vietnam National Chemical Group (Vinachem). Established in 2011, the company is located at Lot D7, Khanh Phu Industrial Park, Khanh Phu Commune, Yen Khanh District, Ninh Binh Province, Vietnam, and is registered with the Tax Code: 2700622899.

As of the end of 2023, the company held total assets of USD 325.63 million and employed around 800 workers. However, financial challenges are evident. The company recorded a net loss of USD 21.63 million, reversing its prior-year profit of USD 38.64 million. Sales also dropped sharply by 29.42%, down to USD 164.42 million. Despite these setbacks, the company maintains active operations in the production of nitrogenous fertilizers and basic chemicals, and it also engages in electric power generation and the wholesale of industrial equipment.

One of the most concerning indicators is the company’s negative equity of USD -201.89 million, resulting from prolonged financial strain. Its working capital is also negative at USD -167.83 million, indicating serious short-term liquidity issues, despite its operational status with state-owned backing.

For analysts, lenders, and procurement managers working in agriculture, energy, or heavy industry, companies like Đạm Ninh Bình require careful attention. To make informed decisions when engaging with such high-capacity but financially distressed firms, it’s crucial to consult trusted data sources. VBI (Vanguard Business Information LLC) offers expert-level credit evaluations, financial stress diagnostics, and industry-specific insights that support better risk management in Vietnam’s state-owned enterprise landscape.