Ahmedabad based Rs 1795 crore agrochemicals company Atul Limited today informed the Bombay Stock Exchange (BSE) that it has restarted manufacturing operations at its Valsad site after the Gujarat Pollution Control Board (GPCB) permitted the same.
The GPCB had issued a notice directing the company to take remedial measures and meanwhile shutdown of manufacturing operations at Valsad on the grounds that some of the old pipelines that were installed at the site many years back to carry effluents have to be dismantled now. Post this, the company had informed the BSE on October 11 that it is working on achieving the mandate of the pollution control board and has shut down manufacturing operations at the site.
Atul today said that based on the steps taken by the company, GPCB has issued an order permitting the firm to restart operations. It, however, added that the incident is expected to affect the company's short-term performance.
Atul limited posted revenues worth Rs 1795.57 crore in 2011-12, and a net profit of Rs 88.11 crore.
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