- Wealth PMS
Sudarshan Chemical – manufacturer of organic and inorganic pigments, effect pigments, agro chemicals and other products.
While Income from Operations remained flat at Rs. 340 crore, the company reported Other Income of Rs. 5.96 crore against Rs. 0.62 crore previously. This along with the 55% growth in the Agro business propelled the PAT to Rs. 26.65 crore against Rs. 18.34 crore. Agro business growth was attributed to good monsoon.
PAT has grown on account of higher contributions and significant steps taken by the company towards reduction in raw material and manufacturing costs clubbed with lower interest rates.
Aspiring to become the fourth largest company in the world, the company is planning to invest Rs 1,000 crore over the next five years. The global market of pigment manufacturing is of $5.5 billion.
Rajesh Rathi, deputy managing director, Sudarshan Chemicals said:
We have signed a memorandum of understanding (MoU) with Maharashtra government of Rs 1,000 crore of investment in the next five years. The first stage of the investment has already kicked off and we are already seeing very good utilisation of those capacities.
Supreme Petrochem – engaged in manufacturing and trading of petrochemicals. It offers products including general purpose polystyrene, XPS INSUboard, compounds, high impact polystyrene, and specialty polystyrene.
Reporting positive profits at Rs. 28.63 crore, Supreme Petrochem declared a dividend of Re.1/- per share costing the company Rs. 11.61 crore.
Finance cost dropped from Rs. 1.49 crore to Rs. 0.93 crore or from 1.47 crore sequentially. QoQ the company also witnessed drop in Excise Duty and Raw Material cost.