Shree Pushkar Chemicals & Fertilisers Limited, a market leader in dyes & dyes intermediaries has planned capex of Rs. 120 crore through internal accrual which is progressing well for the company. 

The company has planned capex of Rs. 75 crore in the dye intermediaries segment which is in advanced stage of obtaining EIA/MPCB clearance. The expected timeline for commencement is FY21. 

The company is awaiting final NCLT order for acquisition of Madhya Bharat Phosphates Pvt. Ltd. (MBPL) with the total cost of Rs. 28 crore including refurbishment of plant. 

The company is also planning for Rs. 11 crore capex for implementation of solar power plant at Tuljapur, Osmanabad under Open Access Scheme of the government based on the connected lead of Unit 1 at MIDC, Lotte Purshuram. 

The Q3 revenue of the company grew by 5% to reach Rs. 85.6 crore thanks to Rs. 25.3 crore from exports and Rs. 60.3 crore from domestic market whereas PAT grew by 24% due to lower tax outgo. 

Commenting on the result, Punit Makharia, CMD, Shree Pushkar Chemicals & Fertilisers Limited said, "The company was able to grow in volume terms compared to last quarter even in these challenging times. However, there was pressure on sales realisation which partially impacted our revenue growth." 

As a strategy, the company continue to consume dye-intermediates for in-house needs and focus on dye segment. Dyecol brand was able to clock in volume growth of 23% q-o-q basis even in the backdrop of continuing macro challenges. In the domestic market as well, Dyecol brand has been strengthening its position which is a huge positive for the company. 

We continue to focus on increasing our revenue contribution from dye segment which is high margin business, cost optimization and environmental friendly initiatives in the coming future, thus creating a sustainable business model.

The company is being fully backward integrated with zero discharge and we are confident about the long term prospects of our business.