Camlin Fine surges after securing green nod for a facility in Gujarat

Camlin Fine Sciences rose 4.26% to Rs 95.40 at 10:34 IST on BSE after the company said that the state level environment impact assessment authority, Gujarat has granted environmental clearance for the company's proposed facility at Dahej SEZ.

The announcement was made after market hours yesterday, 18 July 2016.

Meanwhile, the S&P BSE Sensex was up 35.23 points or 0.13% at 27,781.89.

On BSE, so far 58,000 shares were traded in the counter as against average daily volume of 34,127 shares in the past one quarter. The stock hit a high of Rs 96.50 and a low of Rs 94.75 so far during the day. The stock had hit a 52-week high of Rs 121.40 on 3 November 2015. The stock had hit a 52-week low of Rs 76.10 on 29 February 2016. The stock had underperformed the market over the past one month till 18 July 2016, gaining 1.1% compared with Sensex's 4.21% rise. The scrip had also underperformed the market in past one quarter, sliding 8.82% as against Sensex's 7.48% rise.

The small-cap company has equity capital of Rs 10.32 crore. Face value per share is Rs 1.

Camlin Fine Sciences announced that the State Level Environment Impact Assessment Authority, Gujarat at its meeting held on 16 July 2016, granted the environmental clearance to the company for setting up a manufacturing facility for Hydroquinone/Catechol and its down-stream products at Dahej SEZ, Bharuch District in Gujarat. The environmental clearance was granted with all the conditions recommended by the State Level Expert Appraisal Committee.

On consolidated basis, Camlin Fine Sciences' net profit fell 39.1% to Rs 14.25 crore on 10.5% decline in net sales to Rs 129.33 crore in Q4 March 2016 over Q4 March 2015.

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

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