IG Petrochemicals has received an approval to set up brown field Phthalic Anhydride Plant (PA-3) at a cost of Rs 224.74 crore. The company has completed the financial closure for the said project by External Commercial Borrowings (ECB) and Rupee Term loans aggregating to Rs 140 crore and the balance Rs 74.74 crore by Internal accruals and unsecured loans by promoters. The company has received an approval to set up plant at its board meeting held on August 03, 2011.
The company’s net profit for the quarter ended June 30, 2011 has declined by 59.60% at Rs 2.04 crore as compared to Rs 5.05 crore for the corresponding quarter last year. Its total income has grown by 18.60% at Rs 195.29 crore for the quarter under review from Rs 164.66 crore for the same quarter last year.
IG Petrochemicals is a dominant player in the domestic Phthalic Anhydride (PAN) industry. IGPL has its manufacturing facilities located at Taloja, Maharashtra with an installed capacity of 1,16,110 metric tonnes per annum (mtpa) as on March 31, 2011.
Company Name | CMP |
---|---|
Tata Chemicals | 1059.85 |
SRF | 2284.00 |
Pidilite Inds. | 2913.90 |
Aarti Inds | 678.60 |
Gujarat Fluorochemic | 3261.65 |
View more.. |