Chemical | 07 August 2020
Deepak Nitrite revenues hit by weakend demand
Revenue dropped by 35.82% yoy and stood at stood at Rs 674.49 crore
Revenue dropped by 35.82% yoy and stood at stood at Rs 674.49 crore
.jpg)
Both companies believe depolymerisation has the potential to close the loop, creating a circular economy for polystyrene making the material a more valuable polymer.
The additional proposed capacity of 30,000 TPA is expected to be commissioned in the first quarter of Financial Year 2021-22.
Net profit dropped by 20% yoy and reached Rs 5.42 crore as against profit of Rs 6.82 crore last year.
The expansion will help satisfy market growth as well as Nouryon’s own increased consumption of MCA to produce carboxymethyl cellulose (CMC), following its recent acquisition of J.M. Huber’s CMC business.
Agreement significantly strengthens AGM’s route into the coatings and polymers markets in the UK, Germany, Spain, France, Portugal and Scandinavia.
The consolidated net profit in Q1FY21 came in at Rs 79.40 crore that increased by 48.79% yoy, as compared to Q1FY20, when it had reported Rs 53.36 crore.
The project has been capitalised and commissioned on 3rd August, 2020 at an approximate cost of Euro 80 million.
Key businesses like materials, industry solutions and surface technologies reported a loss during the quarter under review.
The total cost of the project incurred is Rs. 180 crore.
Company's standalone net sales stood at Rs 768 crore declining by 57% over the same quarter last year.
The company said that the crude throughput for the quarter was significantly lower due to lower demand for petroleum products on account of Covid-19 pandemic.
Prior to this, Shukla was holding the position of Executive Director (Technical) in EIL.
Maroon Group will introduce AGM's graphene dispersions technology into the United States and Canadian coatings and polymers markets.
Company didn't provide full year guidance due to market uncertainties.
The business acquired will be named as "JC Kako Co., Ltd." and is due to begin operations from December 01, 2020.
Acquisition will help meet the growing demand for alkoxylates in the APAC market, especially in China.
The objective of this enterprise is the commercialization of joint recycling technology for lithium-ion batteries.
EBITDA rose 55% to Rs 236 crore in Q1 compared to Rs 153 crore in same quarter of the preceding fiscal.
Total fertilizer sales grew more than 20% and touched 18.79 Lakh MT in April-July, 2020.
Subscribe To Our Newsletter & Stay Updated
