Chemical stock up 20% on environment clearance for production in Maharashtra

“We are pleased to inform you that, the Company has received an Environment Clearance for the expansion of “Synthetic Organic Chemical” for its manufacturing plants located at Plot No. A-35/1, MIDC, Badlapur, Tal. Ambernath, Dist. Thane and Plot No. J-5, MIDC Avadhan Taluka, Dist. Dhule, Maharashtra,” the chemical manufacturing company announced in a BSE filing on Wednesday.

Indo Amines is a chemical manufacturing company, committed with expertise in Fine Chemicals, specialty chemicals, performance chemicals, aromatic chemicals and active pharmaceutical ingredients (APIs). Headquartered in Mumbai, the company was incorporated in 1992 and produces a wide range of fatty amines and amine derivatives for use in a variety of industries. Shares of Indo Amines are up nearly 5% since listing in April this year.

For the first quarter ending June 2022 (Q1 FY23), the company’s consolidated profit after tax (PAT) grew 19% from the year-ago quarter, while its revenue from operations registered a growth of nearly 46%.

Commenting on the result, Rahul Palkar, Joint Managing Director, Indo Amines said, “In the current year, we have maintained our growth trajectory and increased our EBITDA margin. We also made significant contributions to the global ESG and sustainability movement. and has shown climate. Consciousness. Strategic partnerships and our advanced capabilities position us well to sustain growth, add value to our customers, and maximize shareholder value.”

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