Aditya Birla, Nirma eye stake in Punjab Alkalies & Chemicals

Aditya Birla Chemicals, Nirma Ltd, Kudos Chemie Limited and Alshemail Consortium have carried out their due diligence for buying Punjab State Industrial Development Corporation Limited’s (PSIDCL) 44.26% stake in Punjab Alkalies & Chemicals Ltd (PACL) which is up for sale. IFCI Limited is the global advisor for the proposed disinvestment by PSIDCL in PACL.
 
Punjab Alkalies & Chemicals, which has a plant located at Naya Nangal in Ropar district in Punjab, is one of the largest manufacturers of caustic soda in India, with an installed capacity of about 99,000 tonnes per annum (tpa). PACL is engaged in the manufacture and sale of caustic soda (lye & flakes), liquid chlorine, hydrochloric acid, sodium hypochlorite and hydrogen gas.
 
In 2013-14, the company had recorded revenue of Rs 267.43 crore, compared with Rs 288.99 crore in 2012-13. PACL had reported a net loss of Rs 9.57 crore in financial year 2013-14 against a net profit of Rs 2.81 crore during the previous year.