Sumitomo Chemical India announced that the Gujarat Pollution Control Board (GPCB) has revoked the closure issued to the company's Bhavnagar site for three months.
On 25 February this year, a fire accident had occurred at the company's Bhavnagar site in the multi product plant, which produces two products.
In the first week of March, the GPCB had issued closure order for the company's Bhavnagar site.
Offering updates on the same, Sumitomo Chemical stated that the GPCB has revoked the said closure order for 3 months subject to the company fulfilling the stipulations specified in the closure order and complying with the undertaking given by it in the matter.
In view of the above, the company has restarted production at its Bhavnagar site, Sumitomo Chemical said in a statement.
Sumitomo Chemical India manufactures, imports and markets products for crop protection, grain fumigation, rodent control, bio pesticides, environmental health, professional pest control and feed additives for use in India. SCIL has also marked its presence in Africa and several other geographies of the world.
The company's consolidated net profit rose 1.74% to Rs 90.48 crore on a 6.57% increase in sales to Rs 753.65 crore in Q3 FY23 over Q3 FY22.
The scrip shed 0.41% to currently trade at Rs 435.70 on the BSE.
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