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GACL gains after product gets BIS license

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Gujarat Alkalies & Chemicals (GACL) rose 0.88% to Rs 610.55 after the company said its product, Ortho Phosphoric Acid, has been granted license by Bureau of Indian Standards (BIS), with effective from 24 November 2021.

GACL said it is the first Indian company to get license for Ortho Phosphoric Acid under this compulsory registration scheme.

Ortho Phosphoric Acid is used to make phosphate salts for fertilizers. It is also used in dental cements, in the preparation of albumin derivatives, and in the sugar and textile industries.

The Ministry of Chemicals and Fertilizers, Department of Chemicals and Petrochemicals vide Order dated 15 June 2021 issued the Ortho Phosphoric Acid (Quality Control) Order, 2021 ('Order'). As per the order, Ortho Phosphoric Acid should bear the standard mark under a licence from the Bureau of Indian Standards as per the Bureau of Indian Standards (Conformity Assessment) Regulations, 2018.

On a consolidated basis, Gujarat Alkalies & Chemicals' net profit jumped 12.9% to Rs 74.57 crore on 29.4% surge in net sales to Rs 825.76 crore in Q2 September 2021 over Q2 September 2020.

GACL is engaged in the business of industrial chemical. It is one of the largest producers of caustic soda in India.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, November 29 2021. 11:04 IST