Petrochemical
Himadri Speciality raises Rs.50 crores
Company has allotted 1000 units of commercial paper of Rs. 5,00,000/- each, aggregating to Rs.50 crores at a discount rate of 4.75% p.a.
Pursuant to power delegated by the Board of Directors of Himadri Speciality Chemical Ltd at its meeting held on 17 December 2019, the Finance and Management Committee of the Board of Directors at its meeting held on today 16 October 2020, has allotted 1000 units of commercial paper of Rs. 5,00,000/- each, aggregating to Rs. 50 crores at a discount rate of 4.75% p.a.
In February this year, the company had updated that its greenfield specialty carbon black plant at West Bengal with an annual capacity of 60,000 MTPA became operational in Q3 last year.
The company had also announced plans to set up an advance carbon materials plant of 20,000 MTPA and the plant commissioning is expected to be in phases starting from H1 this year.
The company had reported a sharp decline in proifts as well as revenues in FY20. For the full year, the company's net profit declined by 36.64% and stood at Rs 205.47 crore in FY20 as against as against Rs 324.30 crore in FY19. Sales declined 25.45% to Rs 1805.80 crore versus Rs. 2422.39 crore in FY19.
Register Now to Attend Gujarat Chem & Petchem Conference 2025 on May 8-9th 2025, at Hyatt Place, Bharuch
Register Now to Attend NextGen Chemicals & Petrochemicals Summit 2025 on June 18-19th 2025, The Leela Mumbai
