Nagarjuna Agrichem has started again the operations of Srikakulam plant. The board at its meeting held on September 26, 2012 has taken the note of it. The operations were stopped earlier as the fire broke out at one of the blocks on June 30, 2012.
The board has also noted the revised credit rating assigned by the Credit Analysis & Research (CARE) under Basel -II, based on business operations, profitability and the recent fire incident impact and the APPCB notice for closure of the operations. The rating agency has revised and assigned ‘BBB+’ ratings for long-term facilities and ‘A3+’ ratings for the short-term facilities of the company.
Besides, the said ratings have been placed on credit watch. CARE is in the process of assessing the impact of the accident on the company's credit profile and would take a view in the matter once clarity emerges.
Nagarjuna Agrichem manufactures a comprehensive range of pesticide technicals, formulations and custom manufactured fine chemicals. Nagarjuna Agrichem's product profile includes those tested and certified by best GLP Certified Independent laboratories in Europe & USA. All the products conform to national and international specifications.