Fine Organic rises after MPCB clears Thane facility

Fine Organic rose 1.54% to Rs 2608.80 after the Maharashtra Pollution Control Board (MPCB) approved the company to resume manufacturing activities at its Thane facility.

MPCB has vide its letter dated 8 January 2021 has approved Fine Organic to continue manufacturing activities at the factory premises situated at Ambernath in Thane.

In December 2020, MPCB had ordered closure of the factory premises for alleged violation of the provisions of Water (Prevention and Control of Pollution) Act, 1974, Air (Prevention and Control Pollution), Act, 1981 and the Rules made thereunder.

Fine Organic Industries is engaged in the manufacturing of oleochemical additives for various end-user industries such as foods, plastics, rubbers, paints, inks, cosmetics, coatings, textile auxiliaries, lubes etc.

On a consolidated basis, the company's net profit declined 45.3% to Rs 31.21 crore on a 1.1% decline in net sales to Rs 270.98 crore in Q3 December 2020 over Q3 December 2019.

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