Kanoria Chemicals hits the roof on commercial production of resin plant

Kanoria Chemicals & Industries was locked in an upper circuit of 20% at Rs 150.40 after the company announced that the commercial production of the resin plant at Ankleshwar, Gujarat will commence from 1 January 2023.

The phenolic resin plant at Ankleshwar, Gujarat will have a capacity of 6500 million tonnes per annum (MTPA).

Kanoria Chemicals & Industries is primarily engaged in manufacture of industrial chemicals in India.

The company reported a net loss of Rs 14.25 crore in Q2 FY23 as against a net loss of Rs 5.64 crore posted in Q2 FY22. Net sales rose 6.6% to Rs 361.85 crore in Q2 FY23.

 

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