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Meghmani Finechem Ltd commences commercial operations of Chlormethane

Posted On: 2019-07-08 15:50:40

Meghmani Finechem Limited (MFL), a material subsidiary of Meghmani Organics Limited (MOL)has commenced commercial production of Chlormethane (CMS) from 04th July, 2019. MFL, is a material subsidiary of Meghmani Organics Limited (MOL) in which MOL holds 57% of Equity Shares. MFL has completed installation of Chlormethane (CMS) project with capacity of 40,000 MTs. per annum in the existing Caustic Chlorine complex situated at GIDC Dahej, Dahej, Bharuch, in South Gujarat.

MFL has commenced commercial production in Chlormethane (CMS) from 04th July, 2019. CMS Plant will produce Methylene Dichloride (MDC), Chloroform and Carbon Tetra Chloride (CTC). MDC will enable MFL to meet the growing demand of Pharma and Agrochemical customers while Chloroform will meet demand for Raw Material of Pharma & Refrigerant Gases.

The cost of setting up the Chloromethane (CMS) plant with an annual capacity of 40,000 MTs is Rs. 160 Crore. MFL expects to achieve Turnover of Rs. 80 Crores in Current Financial Year 2019-20 and Rs. 160 Crore in full year of operation in 2020-21.

Shares of MEGHMANI ORGANICS LTD. was last trading in BSE at Rs.63.55 as compared to the previous close of Rs. 64.35. The total number of shares traded during the day was 131294 in over 774 trades.

The stock hit an intraday high of Rs. 65.3 and intraday low of 63.5. The net turnover during the day was Rs. 8494500.


Source: Equity Bulls

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