Jubilant Ingrevia rallied 6.14% to Rs 822.80 after the company's wholly owned subsidiary, Jubilant Agro Sciences (JASL), has entered into an agreement with a leading Agrochemical company to produce an Agro Intermediate.
This partnership will focus on the production of an agro intermediate essential for one of the customers key agro active products.Manufactured Agro Intermediate will be exported from India. The overall consideration will pay based on the revenue of around $300 million plus from supplies of the Agro intermediate to the customer, over a period of next few years after commencement of production.
A synergistic relationship where JASL leverages its manufacturing prowess coupled with customers technology knowhow of key Agro intermediates and Agro actives, global distribution network and brand image in the agrarian space, the firm said.
Jubilant Ingrevia is a global integrated life science products and innovative solutions provider serving, pharmaceutical, nutrition, agrochemical, consumer and industrial customers with its customised products and solutions that are innovative, cost effective and conforming to premium quality standards. The company is engaged in manufacturing and supply of speciality chemicals, nutrition & health solutions and chemical intermediates through five manufacturing facilities in India.
The company reported 15.36% decline in consolidated net profit to Rs 48.74 crore in Q1 FY25 as compared with net profit of Rs 57.59 crore in Q1 FY24. Total revenue from operations stood at Rs 1,024.34 crore in Q1 FY25, down 4.71% from Rs 1,075.02 crore in Q1 FY24.
The scrip hit 52-week high at Rs 836.95 in intraday today.
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