Meghmani Organics Ltd (MOL) today announced that its subsidiary, Meghmani Finechem, has commenced commercial production of caustic potash flake at its existing facility in Bharuch, Gujarat.
"Meghmani Finechem Ltd (MFL) has commenced commercial production of caustic potash flake (KOH) of 60 tonnes per day on April 21 at its existing manufacturing facility situated at GIDC Dahej, Bharuch," MOL said in a regulatory filing.
The company has successfully commissioned the KOH project within the estimated cost of Rs 65 crore. The cost has been funded from internal accrual, it said.
As a result, in a full year of operation of 2016-17, MFL will earn an additional revenue of about Rs 125 crore and profit before tax of Rs 20 crore, it added.
MOL, which holds 57 per cent equity in MFL, manufactures pigments and agrochemicals, besides pesticides for crop and non-crop applications. It has a market share of 43 per cent in the domestic market.
