Shree Pushkar Chemicals jumps on starting trial production at Ratnagiri’s unit
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Shree Pushkar Chemicals & Fertilisers is currently trading at Rs. 285.50, up by 4.05 points or 1.44% from its previous closing of Rs. 281.45 on the BSE.
The scrip opened at Rs. 280.00 and has touched a high and low of Rs. 288.80 and Rs. 270.55 respectively. So far 19682 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 301.10 on 24-Mar-2022 and a 52 week low of Rs. 133.00 on 30-Mar-2021.
Last one week high and low of the scrip stood at Rs. 301.10 and Rs. 263.45 respectively. The current market cap of the company is Rs. 839.98 crore.
The promoters holding in the company stood at 67.03%, while Institutions and Non-Institutions held 2.69% and 30.28% respectively.
Shree Pushkar Chemicals & Fertilisers has commenced trial production of new plant i.e Unit 5 at D-10, MIDC in Ratnagiri in Maharashtra. The capex of around Rs 105 crore has been completed by the company through internal accruals and cash surplus of the company.
The new facility has production capacity of 66000 MTPA for Sulphur Chemistry and its derivatives and 7200 MTPA for Dyes intermediates. This facility is completely integrated facility. The dry trial run with respect to the plant has been commissioned successfully and the trial production has been started on 27 March, 2022. The commercial production with respect to Dyes intermediates, being integrated facility, will be commenced on successful completion and starting of Commercial production of Sulphur Chemistry and its derivatives products.
Unit 5 shall augment company’s Dyes and Dyes intermediates supply to various parts of the globe. The new plant will be an important base for expanding global as well as domestic sales in the future. This development is in line with the company’s commitment towards fostering sustainable growth while also creating job opportunities in the region. This capacity addition will enable us to expand our chemical footprints and ensure sufficient and timely supplies thereby adding to efficiencies of the supply chain.
Shree Pushkar Chemicals & Fertilisers is amongst India’s large manufacturers of K-Acid, a dye intermediate used to manufacture Reactive Dyes for dying of textiles.
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