Shree Pushkar Chemicals spurts as Maharashtra-based unit commences operations

Shree Pushkar Chemicals & Fertilisers surged 9.72% to Rs 277 after the company announced that it has commenced commercial production of one of its plant with respect to Unit V after obtaining all the necessary approvals.

The company said that the pending approval from Petroleum & Explosives Safety Organisation (PESO) for its Unit V, the provisional approval which was received on 8 August, 2022 has been renewed upto 7 November, 2022. The necessary post provisional approval inspection compliances and formalities have also been completed.

The Unit V is located at MIDC, Lote Parshuram, Ratnagiri district, Maharashtra. All the necessary approvals are obtained and hence it has commenced commercial production at one of its plant with respect to this unit.

The company received license for storage of the compressed gas, ethylene oxide in two numbers of pressure vessels.

Shree Pushkar Chemicals & Fertilisers is engaged in the business of manufacturing and trading of chemicals, dyes and dyes intermediate, cattle feeds, fertilizers and soil conditioner.

The company's consolidated net profit rose 7.8% to Rs 14.43 crore on a 42.4% jump in net sales to Rs 168.76 crore in Q1 FY23 over Q1 FY22.

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