India Pesticides soared 10.20% to Rs 266.90 after its wholly owned subsidiary, Shalvis Specialities has received environmental clearance from Ministry of Environment for setting up manufacturing plant in Uttar Pradesh.
The company received the environmental clearance from Ministry of Environment, Forest and Climate Change (Impact Assessment Division) of Government of India.The pesticides maker will set up manufacturing plant of agrochemicals & intermediates, API ingredients & intermediates and fine chemicals manufacturing unit in Sumerpur, Hamirpur District, Uttar Pradesh.
India Pesticides (IPL) is an R&D driven agro-chemical manufacturer of technical, with a growing formulations business. India Pesticides is the sole Indian manufacturer of five technicals and among the leading manufacturers globally for Captan, Folpet and Thiocarbamate Herbicide, in terms of production capacity.
The company reported 11.6% decline in consolidated net profit to Rs 37.22 crore in Q2 FY23 as against Rs 42.09 crore in Q2 FY22. Net sales jumped 40.4% YoY to Rs 250.66 crore in Q2 FY23.
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