By: ICN Bureau
Last updated : February 17, 2020 4:57 pm
Southern Magnesium and Chemicals Limited (SMCL) Q3 2019-20 revenue is down by 64% to reach Rs. 65 Lakh in comparison to Rs. 1.80 crore in Q3 2018-19.
Southern Magnesium and Chemicals Limited (SMCL) Q3 2019-20 revenue is down by 64% to reach Rs. 65 Lakh in comparison to Rs. 1.80 crore in Q3 2018-19.
Incorporated in February 1985, Southern Magnesium & Chemicals Limited (SMCL) is promoted by Dr. NB Prasad and family. The company has set up a project at Gowripatnam, Andhra Pradesh, to manufacture Magnesium metal, in a joint venture with the Andhra Pradesh Industrial Development Corporation.
The company acquired a pilot plant set up the National Metallurgical Laboratory for the manufacture of Magnesium by Pidgeon process with a capacity of 200 tpa. The company then carried out necessary alterations, modifications, additions and enhanced the capacity to 600 tpa. Commercial production commenced in 1990, becoming the first and only company in India to commercially produce Magnesium metal.
Due to unfavourable market conditions, the company has stopped Magnesium metal production and currently manufactures Magnesium chips, turnings, granules and powders.