Hindustan Organic Chemicals
Hindustan Organic Chemicals net loss widens to Rs 23.03 crore in Q1
State-owned Hindustan Organic Chemicals Ltd (HOCL) on Tuesday posted a consolidated net loss of Rs 23.03 crore for the first quarter of 2023-24 despite witnessing a 17 per cent rise in sales. The company had posted a net loss of Rs 14.76 crore in the year-ago period, according to a regulatory filing. Total income increased 17 per cent to Rs 145.45 crore during the quarter compared with Rs 124.40 crore in the year-ago period. Expenses, too, increased to Rs 171.98 crore during the quarter from Rs 141.65 crore a year ago. HOCL said it is in the process of implementing a government-approved restructuring plan. Sale of unencumbered land in Rasayani through NBCC and Panvel land through e-auction are in progress, while the Phenol plant in Kochi is in operation, it said. "In view of this, the financial statement has been prepared on a going concern basis," it said. The company also said it has undertaken the closure of its subsidiary firm Hindustan Fluorocarbons Ltd and management had m
 "Hindustan Organic Chemicals net loss widens to Rs 23.03 crore in Q1")
This PSU stock zoomed over 100% in one month
Hindustan Organic Chemicals locked in upper circuit of 10% at Rs 39.60, rallied 103% in past one month from Rs 19.55, as compared to 3.4% rise in the Sensex.
 "This PSU stock zoomed over 100% in one month")
Hindustan Organic Chemicals surges 20% on land sale plan to BPCL
The board will meet on January 20 to consider the proposal to sell part of the company's land at Rasayani to BPCL.
 "Hindustan Organic Chemicals surges 20% on land sale plan to BPCL")
700 HOC workers not paid for 14 months
HOC's total dues in the Rasayani unit towards salary, wages and statutory dues are of Rs 200 cr
 "700 HOC workers not paid for 14 months")
