Vinati Organics gained 2.78% to Rs 1828 after the company announced that it will be its expanding ATBS capacity from 40,000 million tonne to 60,000 million tonne, since there is a strong demand for it.
The ATBS capacity expansion would cost Rs 300 crore, which will be funded by internal accruals and is expected to get commissioned by December 2023.Apart from that, Vinati Oragnics made another capital expenditure in Veeral Organics, a fully owned subsidiary of the company of Rs 280 crore. This capex includes 2,000 million tonne of mequinol (MEHQ) & guaiacol and 30,000 million tonne of iso amylene. These products are used in polymerization inhibitors, flavours, fragrances, pharmaceuticals and pesticides and its commissioning is expected by September 2023.
Vinati Organics is a leading manufacturer of specialty chemical and organic intermediaries with a market presence spanning over 35 countries in the world.
On a consolidated basis, net profit of Vinati Organics rose 29.75% to Rs 83.22 crore on 65.10% rise in net sales to Rs 368.95 crore in Q3 December 2021 over Q3 December 2020.
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