News Details

News Details

Hot Pursuit News
As on 23-Jun-2022  15:16

Vinati Organics rises on capex plan
The ATBS expansion plan will entail a capital expenditure (capex) of Rs 300 crore which will be funded by internal accruals and is expected to get commissioned by December 2023.

ATBS, or 2-Acrylamido 2 Methylpropane Sulfonic Acid, is used to manufacture dispersants in water chemicals and polymers for Enhanced Oil Recovery (EOR), and also to give dye receptibility for acrylic fibre.

Further, the company added that the capital expenditure in Veeral Organics (fully owned subsidiary of Vinati Organics) is under progress. The total capex is approximately Rs 280 crore and the products include 2000 MT of MEHQ & Guaiacol and 30000 MT of ISO Amylene. These products are used in polymerization inhibitors, flavours, fragrances, pharmaceuticals and pesticides. The commissioning is expected by September 2023, it added.

Vinati Organics is a leading manufacturer of specialty chemical and organic intermediaries with a market presence spanning over 35 countries in the world.

On a consolidated basis, net profit of Vinati Organics rose 29.75% to Rs 83.22 crore on 65.10% rise in net sales to Rs 368.95 crore in Q3 December 2021 over Q3 December 2020.

Powered by Capital Market - Live News