Chemical | 24 June 2020
Fairchem reports growth in yearly earnings and profit
The company's sales rose 21.59% to Rs 1630.61 crore as against Rs 1341.04 crore in the previous year.
The company's sales rose 21.59% to Rs 1630.61 crore as against Rs 1341.04 crore in the previous year.
For the full year, the company has posted net profit of Rs. 201.32 crore FY20 as against Rs. 86.10 crore in FY19.
Annual sales stood at Rs.3272.55 crores as against Rs.3548.49 crores in the previous year.
The transaction is expected to close in the third quarter of 2020.
This will enable Grace to continue to meet growing global demand in a thriving specialty silica segment, where there is active innovation that enables future growth for key industries.
The estimated cost of the project is around Rs. 13,270 crore and total capacity of urea is 12.7 lakh MT at Talcher.
The project will help advance Canada’s plant protein ecosystem.
Results are expected to be modestly better than forecast in polyurethanes but weaker in textile effects.
Committee also concluded that esbiothrin should not be approved for use in insecticides and acaricides as it poses an unacceptable risk to human health.
GeM has taken this significant step to promote ‘Make in India’ and ‘Aatmanirbhar Bharat’.
Progresses seven-unit U.S. Gulf Coast mega project to the cusp of completion says the CEO
The company reported 50.27% rise in consolidated net profit to Rs 131.20 crore on 3.3% rise in total income to Rs 1,730.04 crore in the year ended 31 March 2020 (FY 2020) over FY 2019.
Chemical production was lower in all regions, with the largest year-ago declines in the West Coast, Ohio Valley and Midwest regions.
The extended contract will provide Celanese’s Nanjing facility with an ongoing and reliable supply of carbon monoxide for its 1,200 kiloton acetic acid plant.
Net profit for Q4FY20 was Rs. 32.4 crore as compared to Rs. 27.0 crore in Q4FY19.
The production capacity of the planned facility at Dahej is 105,000 TPA.
Company finalizing arrangements to hire a successor.
Total income dipped to Rs 1,510.96 crore in 2019-20 from Rs 1,591.87 crore in the previous year.
The expansion will add capacity for products including methyl ethyl ketone peroxides (MEKP) as well as dibenzyl peroxide (BPO) pastes and waxes.
The company expects its long term contract execution to be on track and it does not believe any significant impact of COVID-19 to those contracts.
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