Chemical
Sanginita Chemicals profitability decreases by 14.6%
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.
- By ICN Bureau
| October 24, 2020
Sanginita Chemicals Pvt. Ltd. profitability for the FY 2019-20 has decreased by 14.6% to reach Rs. 3.37 crore from Rs. 3.94 crore in FY 2018-19.
The net revenue from operations 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 globally said Dineshsinh B Chavada, Chairman & Managing Director, Sanginita Chemicals.
The impact of COVID-19 pandemic resulted in the slowdown in the production and sales of the company from January 2020 however, the company resumed normal factory and office operations from the month of May 2020 itself.
If the impact of COVID-19 gets stabilized and/or subsided, the same may be expected to result into normal business operations in the next couple of quarters or by the beginning of next financial year added Dineshsinh.
Sanginita Chemicals is engaged mainly in the production of Cuprous Chloride, Cupric Chloride and Copper Sulphate.
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