Bodal Chemicals gains after commencing production

Bodal Chemicals rose 1.24% to Rs 118 at 09:32 IST on BSE after the company said that expansion/ upgradation of the manufacturing facilities has been completed and production has started at Gujarat plant.

The announcement was made after market hours yesterday, 27 March 2018.

Meanwhile, the S&P Sensex was down 168.41 points or 0.51% at 33,005.98. The BSE Small-Cap index was down 117.47 points or 0.68% at 17,035.46.

On the BSE, 4,117 shares were traded on the counter so far as against the average daily volumes of 91,000 shares in the past two weeks. The stock had hit a high of Rs 118.45 and a low of Rs 117 so far during the day. The stock had hit a record high of Rs 193.60 on 13 July 2017 and a 52-week low of Rs 111.50 on 26 March 2018.

The small-cap company has equity capital of Rs 24.44 crore. Face value per share is Rs 2.

Bodal Chemicals said that expansion/ upgradation of the manufacturing facilities has been successfully completed and production has started at Unit VII of the company, situated at Village Dudhwada, Taluka Padra, District Vadodara, Gujarat. The company has completed expansion of dyestuff plant by 12,000 metric tonne per annum (MTPA).

After the expansion, the total capacity of dyestuff plants of the company stands at 29,000 MTPA, excluding liquid dyestuff. The company also completed upgradation of utility section including establishment of co-generation power plant of 5 megawatts (MW).

Bodal Chemicals' net profit dropped 9.03% to Rs 30.54 crore on 8.52% rise in total income to Rs 306.33 crore in Q3 December 2017 over Q3 December 2016.

Bodal Chemicals is engaged in manufacturing of acid, direct and reactive dyestuffs and dye intermediates for textile, leather, plastics and papermaking applications.

Powered by Capital Market - Live News