Chemical | 18 June 2020
Thirumalai Chemicals reports lower profits as well as sales
Annual sales declined 13.98% to Rs 1084.79 crore in 2020 as against Rs 1261.04 crore last year.
Annual sales declined 13.98% to Rs 1084.79 crore in 2020 as against Rs 1261.04 crore last year.
The company has recommended final dividend of Rs. 3 per share of face value of Rs. 2/- each.
The ministry has also extended the timeline for submission of representation by the stakeholders from 45 days to 90 days.
The company said it is halting work on a new dicamba plant in Luling, Louisiana, because global overcapacity for producing the chemical made the investment less attractive.
As part of this MoU, Lygos will provide its proprietary yeast platform to Praj for jointly developing into various solutions for commercial applications.
Rakesh Bhartia, CEO of India Glycols Limited has resigned from his position with effect from June 16, 2020.
The requirement of urea during Kharif season is estimated at 170 Lakh MT while production may be around 133 Lakh MT.
The $1 billion project is expected to start in 2022.
The collaboration between the two companies is already underway and brings together their complementary expertise and common commitment to a low-carbon future.
The consignment is expected to reach Iran by 16th June 2020.
Sales decline 6.70% to Rs 520.35 crore in Q4 FY20.
Sales decline 17.22% to Rs 33.40 crore.
The transaction is subject to regulatory approvals and is expected to be closed during autumn 2020.
Increased production to help expand the company's functional resin business in China.
Tosoh Silica will hold 67% stake in the JV with commercial operations planned in October 2021.
The company's annual revenue for FY20 from chemical segment was also down to Rs 711.96 crore as against Rs 765.34 in FY19.
The company has received a notice from the global agrochemical major, opting to terminate the 10-year contract it had entered on June 15, 2017 to supply a high-value agrochemical intermediary with application into Herbicides.
The oil and gas and chemical sectors will start recovering in Q3 2020
The acquisition of Erber Group further strengthens DSM’s expertise and reputation as a leading provider of animal health and nutrition solutions for farm productivity and sustainability, with an emphasis on emissions reduction, feed consumption efficiency, and better use of water and land.
Ahmed el-Hoshy will succeed Nassef Sawiris as CEO on 1 August.
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