Camlin Fine Sciences in demand on restarting Palghar unit

Camlin Fine Sciences jumped 4.49% to Rs 143 after the company announced that it will restart its manufacturing unit situated at Tarapur, district Palghar in Maharashtra from 2 March 2021.

Earlier on 9 February 2021, the Regional Officer of Maharashtra Pollution Control Board (MPCB) directed the company to close the Palghar manufacturing unit on account of alleged violations of the provisions of Water (Prevention and Control of Pollution) Act, 1974 and Air (Prevention and Control of Pollution) Act, 1981 and the rules made thereunder.

The unit was closed on 22 February 2021. MPCB, vide its letter dated 1 March 2021, has issued restart directions with respect to the said manufacturing unit subject to the company fulfilling certain terms and conditions. The company has immediately initiated necessary steps for fulfilling the terms and conditions mentioned in the said directions. The manufacturing unit shall now be functional from 2 March 2021.

Camlin Fine Sciences is a provider of high-quality shelf-life extension solutions including antioxidants, aroma ingredients and performance chemicals.

On a consolidated basis, the company's net profit jumped 199% to Rs 15.42 crore on a 8.8% rise in net sales to Rs 297.92 crore in Q3 FY21 over Q3 FY20.

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