Chemical | 29 October 2020
Sharda Cropchem reports double digit growth in sales, profit during second quarter
Company's gross profit grew by 51.5% YoY to Rs.132 crore in Q2 FY21.
Company's gross profit grew by 51.5% YoY to Rs.132 crore in Q2 FY21.
The company has made investments of about Rs. 105 crore in its 90 acre greenfield project, out of the total capex of Rs. 150 crore and is expecting to commence manufacturing of Ethylamines by the end of the last quarter of this financial year.
The new state-of-the-art preservation system for the Cosmenyl 100 range does not contain ortho-phenylphenol (O-PP), methylisothiazolinone (MIT) or parabens.
As per the agreement, Piramal Pharma will buy 49% stake of Navin Fluorine Rs. 65.10 crore thus becoming 100% owner of CCPL.
The company listed on the BSE SME platform over two years back and has met all the criteria needed for the shift.
A new cellulase, Lavergy C Bright 100 L, in combination with BASF Home Care and I&I ingredients promises dazzling results both for cotton and synthetic fabrics.
For the period, the company has reported total income of Rs.86.37 crores as compared to Rs.48.90 crores during the period ended June 30, 2020.
Revenue for Q2 FY 21 was down by 1.6% to reach Rs. 250.52 crore vis-a-vis Rs. 254.41 crore in Q2 FY20.
For the full year 2020, the BASF expects a slight decline in sales compared with the previous year, mainly due to weaker demand as a consequence of the coronavirus pandemic.
Company has earmarked an aggressive capex plan for capacity addition for growth projects largely in margin accretive HPP and specialty segments.
Index rose 0.9 percent in October on a three-month moving average basis, a marked deceleration from the 1.5 percent gain in September and 2.6 percent gain in August.
The technology was patented and developed by Prof. Mihir Kumar Purkait, Head, Centre for the Environment, and Professor, Department of Chemical Engineering along with his MTech student VL Dhadge.
The program will help the company deliver a sustainable annual contribution of additional operating EBITDA of 220 million EUR in total.
Company delivered strong growth in APAC, particularly China which helped in driving higher volumes in third quarter.
Revenues increased 34.5% year-over-year to $5.9 billion, with 14.0% non-GAAP core revenue growth including Cytiva.
Company's management board has approved the memorandum for issuance of upto 7,500 rated, listed, unsecured, redeemable, Non-Convertible Debentures having face value of Rs. 10,00,000 each.
The operating profits for the quarter ended Sep-20 were up by 18.66% at Rs. 227.96 crores while the net profits were down by 16.65% at Rs. 175.06 crores on the back of higher tax charges.
The company posted a net profit of Rs.16.15 crores for the quarter ended Sept 30, 2020 as compared to a net profit of Rs. 5.70 crores for the quarter ended June 30, 2020, reflecting a growth of over 183% YoY.
Company has purchased land in Dahej, Gujarat to set up a green-field project for agro chemicals manufacturing.
The company posted a near flat growth of 1.03 percent YoY and its total sales stood at Rs. 430.72 crores.
Subscribe To Our Newsletter & Stay Updated
