Vipul Organics spurts on commencing construction at Sayakha in Gujarat

Vipul Organics jumped 5.30% to Rs 179.90 after the company said it has initiated the construction of a facility in Sayakha in Gujarat.

The facility would be situated in Gujarat's Petroleum, Chemicals and Petrochemicals Investments Region (PCPIR), it will have production facilities in a very strategically located area.

Vipul Organics had acquired an industrial plot of 24,633.11 square meters at Sayakha from Gujarat Industrial Development Corporation (GIDC). The GIDC has now approved the building plan totalling 22,209 square meters.

The company commenced the construction activity after receiving the approvals. The environmental clearance for the project has already been received.

The Sayakha facility which is coming up in the chemical hub of Gujarat, will be a critical asset for Vipul Organics and will firmly establish it as one of the leading producers of dyes and pigments & pigments intermediaries in the world. The facility will strengthen the manufacturing capabilities of the company and optimize operational efficiencies, the firm stated in the press release.

Vipul Organics Sayakha facility will have the additional advantage of the being located on the Delhi-Mumbai Industrial Corridor and the proposed Dedicated Freight Corridor (DFC). Alongside the impressive road and railway connectivity, it is right next to Dahej Port, which is strategically located on international maritime routes. This will help Vipul Organics to effectively reach out to its domestic and global customers as well, said the company.

Vipul Organics is a specialty chemicals company in the pigments and dyes segment. The company provides total colouring solutions to paint, printing ink, plastics and masterbatches, textiles, rubber & latex, agriculture, leather, dietary supplements and pharmaceuticals, food beverages and confectionaries industries.

The companys consolidated net profit stood at Rs 1.07 crore in Q4 FY24, steeply higher than Rs 0.26 crore posted in Q4 FY23. Revenue from operations stood at Rs 39.99 crore in Q4 FY24, resigtering a growth of 27.4% year on year.

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