Sudarshan Chemical Industries after market hours on Monday announced that its board has approved the fund raising upto Rs 200 crore.
In an exchange filing, the company said, the Board of Directors, at its meeting held today approved fund raising by way of issue of Non-Convertible Debentures aggregating up to Rs 200 crore, on private placement basis in one or more series / tranches.Sudarshan Chemical Industries manufactures color pigments, which are used in paints, printing inks, plastics, rubber artist materials, and textile printing. The group also manufactures a basic range of pesticides.
On a standalone basis, the chemical maker's net profit dropped 31.15% to Rs 31.25 crore on a 17.12% increase in revenue from operations to Rs 535 crore in Q3 FY22 over Q3 FY21.
Shares of Sudarshan Chemical were trading 1.01% higher at Rs 535.80 on BSE in morning trade.
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