News | November 14, 2022
Chemcon Q2 FY23 revenue down 5.4%; Profit down 46.6%
Q2 FY23 business performance has been slow primarily due to lower volume offtake from pharmaceutical manufacturers
Q2 FY23 business performance has been slow primarily due to lower volume offtake from pharmaceutical manufacturers
The Group will continue to make proactive investments of its management resources in the life science business
The company has successfully developed Methyl salicylate using Flow Chemistry and successfully erected a Flow reactor at Jhagadia plant and expects to start production from Q3 FY23
Revenue from operations for the half year was Rs. 178.5 crore, declined by 23% whereas net profit for the half year was Rs. 16.9 crore, declined by 70%
Most of the new growth Capex investments are happening on the Specialty Chemicals and Nutrition side
NFIL’s ambition is to reach revenues of US$100mn from CDMO by FY25.
Both products are broad-spectrum, foliar insecticides used across wide range of crops
We are launching the five new products in the new manufacturing facility and they're all pharmaceuticals and this should lead to an increase in pharma numbers.
The company will strengthen its position in the ‘green solvent’ market by increasing its capacity by 20% to 120,000 MTPA from 100,000 MTPA before the end of current fiscal
Both the plants have a total Capex of Rs. 75 crore and expected production timeline is Q3 FY23
Subscribe To Our Newsletter & Stay Updated
_256_275.jpeg)
