Camlin Fine to set up new unit in Gujarat, invest Rs 180 crore

Food antioxidant and ingredient manufacturer Camlin Fine Sciences Ltd has decided to set up a new facility to produce hydroquinone and vanillin in Gujarat with an investment of Rs 180 crore.
"The company has acquired a land at Dahej SEZ in Gujarat for setting up a plant for manufacturing catechol, hydroquinone and vanillin for Rs 180 crore," Camlin Fine Sciences managing director Ashish Dandekar was quoted as saying in a statement here.
"We have already appointed the project management consultant of international repute and the project is expected to be commissioned sometime during the later of part of financial year 2017-18 and the full-scale manufacturing operations are expected to start from FY 2018-19," he added.

The facility will have capacity to manufacture 9,000 tonnes per annum of hydroquinone and 6,000 tonnes per annum of vanillin.
While hydroquinone is the key ingredient in skin whitening products, vanillin (an artificial version of pure vanilla extract) is used as artificial flavouring agent in food industry.
"The main driver for this expansion project is to become the major diphenol supplier in in the world, with product portfolio having a growing demand globally for catechol and vanillin as well as its derivative/down-stream products and maintaining its leadership and technological superiority for retaining the dominant position in the global market.

"These steps would ensure the use of 'Science & Technology' for large basket of diphenol product groups in future," Dandekar said.

Meanwhile, the company reported marginal improvement in net profit at Rs 5.48 crore for the quarter ended June 2015 as against Rs 5.46 crore in the same period last year.
The company's total income stood at Rs 99.48 crore in Q1 FY 16 as compared to Rs 88.34 crore in the corresponding period last year.
Consolidated EBIDTA stood at Rs 30.40 crore during the 3 months ended June, 2015 as against Rs 22.06 crore during the same period of previous year, thereby registering a growth of 37.8 per cent.
The company's consolidated cash accruals from operations stood at Rs 20.84 crore during the 3 months ended June, 2015 as against Rs 13.84 crore during the same period of previous year, thereby registering a growth of 50.6 per cent.