ISGEC Heavy Engineering jumped 6.73% to Rs 601.15 after the company announced the commencement of commercial production at the 100 KLPD ethanol plant by its wholly owned subsidiary.
In a regulatory filing made after trading hours yesterday, the company said that its wholly owned subsidiary Saraswati Sugar Mills (SSML) has commenced commercial production on 22 December 2021 at its 100 KLPD Ethanol plant, set up at Yamuna Nagar, Haryana, after obtaining all statutory approvals.
SSML had invested approximately Rs 178 crore in the construction of the plant and making it operational.
ISGEC Heavy Engineering is a diversified heavy engineering company engaged in manufacturing and project businesses with an extensive global presence.
The company's consolidated net profit declined 86.33% to Rs 10.52 crore on a 2.34% rise in sales to Rs 1,376.11 crore in Q2 FY22 over Q2 FY21.
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