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.
Net Revenue for Q2 FY21 is at Rs. 779 crore as compared to Rs. 826 crore in the corresponding quarter ended Sept 30, 2019.
Company's second quarter sales stood at Rs. 171.7 crore.
The acquisition of Fertiláqua enhances ICL's position in the high growth, high margin Brazilian specialty plant nutrition market.
Kirit H Shah, CFO, Yash Chemex has resigned effect from 23rd October, 2020 due to health issues.
The net revenue of the company for FY 2019-20 has decreased from Rs. 187.59 crore to Rs. 159.78 crore due to decrease in prices and COVID-19 pandemic.
The Karnataka Appellate Tribunal vide its order dated 22nd October, 2020 has granted stay on recovery of demand from BASF India aggregating to Rs. 24.74 crore pertaining to the period 2015-2016.
Company has appointed Red River Specialties LLC, an Azelis company, as exclusive distributor for agricultural inert ingredients and tankmix adjuvants in North America
In September, chemical production continued to improve in many segments, including, chlor-alkali, organic chemicals, industrial gases, synthetic dyes and pigments, consumer products, synthetic rubber, manufactured fibers, other specialty chemicals, and fertilizers. Production eased in plastic resins, coatings, adhesives, and crop protection chemicals.
Despite restrictions due to COVID-19 pandemic, the company manufactured 530.10 MT of Malathion Technical in H1 as compared to 375.5 MT in corresponding period of last financial year registering a growth of 41%.
During September, specialty chemicals volumes were off 8.1 percent on a year-over-year (Y/Y) basis, a slight improvement from August.
€300 million share buyback announced, to be completed in the first half of 2021.
National Fertilizers Limited distributed 75 cotton plucking machines to farmers in Rajasthan.
The acquisition of Nardev is aligned with Barentz’ strategy to strengthen their position in Asia-Pacific, as well as to become a global leader in life science ingredients.
JM’s state of the art, £7.5 million fuel cell component facility in Shanghai complete and commissioning now in progress.
The cluster should be developed in a way where larger units might have their own independent systems but for MSME units there should have a common effluent system, common utility support etc.
The facility will become the largest MCA plant in India and it will use chlorine and hydrogen manufactured by Atul to produce up to 32,000 metric tons of MCA per year, with the possibility to expand this to 60,000 metric tons per year in the future.
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