Camlin Fine Sciences jumped 4.49% to Rs 143 after the company announced that it will restart its manufacturing unit situated at Tarapur, district Palghar in Maharashtra from 2 March 2021.
Earlier on 9 February 2021, the Regional Officer of Maharashtra Pollution Control Board (MPCB) directed the company to close the Palghar manufacturing unit on account of alleged violations of the provisions of Water (Prevention and Control of Pollution) Act, 1974 and Air (Prevention and Control of Pollution) Act, 1981 and the rules made thereunder.The unit was closed on 22 February 2021. MPCB, vide its letter dated 1 March 2021, has issued restart directions with respect to the said manufacturing unit subject to the company fulfilling certain terms and conditions. The company has immediately initiated necessary steps for fulfilling the terms and conditions mentioned in the said directions. The manufacturing unit shall now be functional from 2 March 2021.
Camlin Fine Sciences is a provider of high-quality shelf-life extension solutions including antioxidants, aroma ingredients and performance chemicals.
On a consolidated basis, the company's net profit jumped 199% to Rs 15.42 crore on a 8.8% rise in net sales to Rs 297.92 crore in Q3 FY21 over Q3 FY20.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU