India based Finotex Chemicals Limited (FCL) has posted an impressive growth in sales as well as revenues in second quarter of the current fiscal

 

The company has reported a jump of 67% YoY with a total income of Rs. 58.55 crores in Q2 as against Rs. 35.69 crores in the same period last year.

 

It's net profit also grew by 34% YoY and reached Rs.10.48 crores in the second quarter versus Rs.7.79 crores previous year.

 

The company has reported EPS of Rs.0.95 for the period ended September 30, 2020 as compared to Rs.0.70 last year.

 

FCL had also announced last month about its plan to invest Rs. 27 crore to commission the first phase of the brownfield facility in Q1 FY2022.

 

The upcoming facility will be located on a 4 acre land at Ambernath in Maharashtra and will provide additional manufacturing capacity for existing product lines and new growth areas.

 

The plant will cater to customer demands in the existing textile specialities and fast growing home care and hygiene and drilling specialities business.

 

The upcoming brownfield facility at Ambernath to be future ready for the next phase of growth. The company will also partner with International companies to establish manufacturing facilities in India.