You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Meghmani Organics gains on plans to set up multipurpose plant

Capital Market 

Meghmani Organics rose 3.80% to Rs 77.80 after the company announced plans to set up the multipurpose plant at Dahej at the cost of Rs 310 crore.

"The plant is expected to be commissioned by Q4 FY22, it further said in a BSE filing made during market hours today.

Further, Meghmani Organics informed that it commenced commercial production of two plants in Bharuch, Gujarat on 25 November 2020.

The herbicide 2, 4D acid plant is at GIDC, Dahej - District Bharuch. The cost of setting up this plant, having an annual capacity of 10,800 MTs, is Rs 127 crore. The company expects to achieve additional turnover of Rs 200 crore on full year of operation. With this expansion the total production capacity of herbicide 2,4D acid plant is now 21600 TPA.

The agrochemical formulation plant is at GIDC Panoli - District Bharuch. The cost of setting up this plant is Rs 25 crore. The company expects to achieve additional turnover of Rs 150 crore on full year of operation.

Meghmani Organics (MOL) is in the business of manufacturing of agrochemical and pigments. It reported 3.8% drop in consolidated net profit to Rs 81.15 crore on a 17.5% rise in net sales to Rs 625.63 crore in Q2 FY21 over Q2 FY20.

Powered by Capital Market - Live News

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

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, November 26 2020. 10:30 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU