Indo Amines surged 19.12% to Rs 119.30 after the company received an environment clearance for expansion of synthetic organic chemical for its manufacturing plants in Maharashtra.
The manufacturing plants are situated at MIDC, Badlapur, Ambernath, Thane and MIDC, Avdhan Taluka, District Dhule, Maharashtra.Synthetic organic chemicals (SOCs) are carbon-based compounds of man-made origin that can get into water through runoff from croplands or discharge from factories. SOCs may also come from urban storm water runoff and septic systems.
Indo Amines is engaged in the business of manufacturing, selling and distribution of specialty chemical with diversified end-user into agrochemicals, pharmaceuticals, high performance polymers, paints, etc.
The company recorded 18.9% rise in consolidated net profit to Rs 8.48 crore on a 45.9% increase in net sales to Rs 258.27 crore in Q1 FY23 over Q1 FY22.
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