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Heranba Industries starts production at new Unit -IV

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Heranba Industries on Monday announced that it has commenced commercial production at its new Unit - IV facility situated at GIDC, Vapi in the state of Gujarat

Heranba expects the new production facility to generate annual revenue of Rs 100 crore. The production capacity and capacity utilisation of the new Unit-IV will be 1200 MTPA at maximum capacity. The company said that no further capital expenditure is required in near future for Unit-IV.

Commenting on the development, R K Shetty, MD of Heranba said, This commercial production will generate additional revenue for our company. This is in line with our commitment and promises made in the past. This commencement of commercial production is a recognition of Heranba's established track record, healthy accruals and resiliency of the business model. Our continued growth trajectory shows the strong and resilient DNA that we are built on. We are dedicated to accelerate revenue growth and to improve productivity in order to achieve significant margin expansion, and we continue to view FY22 as a crucial acceleration point in Heranba's growth trajectory. We remain focused in delivering better services thereby benefiting all the stakeholders.

Heranba is a leading agrochemical company in India. It manufacturers synthetic pyrethroids and its intermediates in India. It has four manufacturing facilities across India with employee strength of 650 (approx).

The company posted a 20.9% rise in net profit to Rs 45.62 crore on a 1.2% increase in net sales to Rs 353.44 crore in Q2 FY22 over Q2 FY21.

Shares of Heranba Industries were trading 1.44% lower at Rs 661.15 on BSE.

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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 22 2021. 10:55 IST