Jubilant Ingrevia rose 3% to Rs 545 after the company announced the commissioning of its new Diketene derivatives facility at its manufacturing site in North India at Gajraula, Uttar Pradesh.
Jubilant Ingrevia for many years has niche expertise in using Ketene chemistry technology. Using the Ketene chemistry capability, the company has developed a range of Diketene derivatives.The newly commissioned facility marks the entry of Jubilant Ingrevia into the fast growing Diketene business portfolio. This reiterates Jubilant Ingrevia's commitment towards growth through its integrated business model, by providing value added products & innovative solutions to its customers.
The commissioned facility has about 7,000 TPA capacity to produce various Esters (Mono Methyl Acetoacetamide, Methyl Acetoacetate, Ethyl Acetoacetate and Ter-Butyl Acetoacetate). The company's long-standing association with leading customers in pharmaceuticals, agrochemicals and other industries and its advance efforts to get product approval from customers, will help in utilizing a major portion of the capacity of this new facility in the coming months. Jubilant Ingrevia undertakes to commission future phases of Diketene Derivatives as per plan.
Rajesh Srivastava, chief executive officer and managing director, Jubilant Ingrevia said, It gives me immense pleasure to showcase yet another instance where Jubilant Ingrevia has developed a strong chemistry platform proposition using inhouse R&D and technology transfer backed with high operating excellence and clear strategic direction. The commercial launch of the Diketene facility marks the next stage in the growth of the company, positioning us closer to our client's requirements of innovative products and solutions using novel and niche chemistry platform."
Separately, Jubilant Ingrevia informed that India Ratings and Research has affirmed its ratings for various facilities of the company. It has affirmed IND AA/Stable/IND A1+ rating on the company's fund-based limits worth Rs 4,400 crore. It has affirmed IND A1+ rating on the company's non-fund-based limits worth Rs 8,075 crore.
Jubilant Ingrevia is a global integrated life science products and innovative solutions provider serving pharmaceutical, nutrition, agrochemical, consumer and industrial customers with customised products and solutions that are innovative, cost-effective and conforming to excellent quality standards.
On a consolidated basis, Jubilant Ingrevia reported net profit of Rs 129.07 crore and net sales of Rs 1283.01 crore in Q3 December 2021.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
