Chemical | 16 August 2020
Insecticides India to invest Rs 1 billion in Capex
Investment is part of its strategy to capitalize on the Make in India initiative.
Investment is part of its strategy to capitalize on the Make in India initiative.
The four verticals that will be covered are medical robotics, agriculture and disaster management, defense, and smart manufacturing (Industry 4.0).
Sales decline 55.52% to Rs 385.62 crore.
Enhanced capabilities to boost the development of advanced material solutions.
Company earlier had temporarily shut down the 47,200-metric tons/year plant, after it was reportedly issued a closure notice for violating environmental norms.
The 1.8 million tonnes a year full steam ethylene cracker and linked downstream units to be build at Vadinar in western Gujarat state would cost $8 billion-$9 billion and would be completed in five years.
Sales declined 7.53% to Rs 388.90 crore in the quarter.
Total capex stood at Rs. 71 crore.
Profit before tax dropped during the quarter leading to loss of Rs. 1.18 crore.
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The company is expanding into new geographies and exploring new pigments.
Company's sales decline by 32.7% and stood at Rs 1621.05 crore in Q1 June 2020.
The company reported fall in revenues by 4% YoY during the quarter and sales stood at Rs 241.54 crore.
The new plant will double annual production capacity, going from 140,000 tons per year to 280,000 tons per year from the 4th quarter of 2022.
The upgrade will help increase its water-based paints production capacity and also achieve sustainability goals.
Sales decline 0.03% to Rs 222.91 crore.
The company reported net loss of Rs 10.50 crore in Q1FY21.
The company's subsidiary in the US will be distributing industrial rubber good products in North America.
Company has got final approval from the US regulatory authorities.
Net revenue for Q1 FY 2020-21 is down by 45% to reach Rs. 241.17 crore.
The transaction is subject to the approval of the relevant authorities and is expected to be closed around mid-2021.
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