Mangalam Organics jumped 11.68% to Rs 888 after the company reported 55.7% rise in consolidated net profit to Rs 22.31 crore on a 66.6% increase in net sales to Rs 143.05 crore in Q2 FY22 over Q2 FY21.
Profit before tax in Q2 FY22 stood at Rs 30.36 crore, up by 58.5% to Rs 19.15 crore in Q2 FY21.
Separately, Mangalam Organics said that as a part of modernizing and continuously deploying new technologies at its manufacturing facility located at Kumbhivali village, Maharashtra, the company has commissioned new steam boilers and thermopac.
Consequent upon the developments as above, the company will now be able to produce 10,000 MT per annum of Camphor from present capacity of 5,000 MT per annum with effect from January 2022.
The above technological improvements and developments have been financed through internal accruals, the company said.
Mangalam Organics manufactures and trades in fine specialty chemicals, including camphor, resins, and dipentene.
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