NACL Inds rises after subsidiary gets environment clearance for new plant in Andhra Pradesh

NACL Industries gained 3.14% to Rs 85.30 after the company's subsidiary received environment clearance for establishing manufacturing facility in Andhra Pradesh.

In an exchange filing made after market hours on Wednesday, the agrochemicals maker announced that the Ministry of Environment, Forest and Climate Change (MoEF&CC) has granted the environment clearance to NACL Multichem (a wholly owned subsidiary of the company) with respect to its proposed establishment of manufacturing facility at Ranastalam Mandal, Srikakulam District, Andhra Pradesh

The said facility would be involved in the manufacturing of various agrochemicals, synthetic organic chemicals and fluorine based chemicals with a production capacity of 264.615 TPD and co-generation power plant (6 MW).

NACL Industries manufactures and exports crop protection technical (active ingredient) and formulations. It manufactures all kinds of pesticides, insecticides, herbicides, fungicides and other plant growth chemicals. The company's formulation business is mainly in the Indian market, and it sells through its large retail dealer network spread across India; it also has a range of branded formulations.

The company's consolidated net profit rose 14.71% to Rs 16.53 crore on a 20.61% increase in sales to Rs 482.15 crore in Q3 FY23 over Q3 FY22.

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