Chemical stock jumps 7% after acquiring land and building for business expansion

This chemical stock is in focus after it jumped 6.69 percent following its announcement of buying land and a factory building in Raigad, Maharashtra for business expansion purposes.

Share Price Movement

With a market capitalization of Rs. 879 Crore, the stock of Indo Amines opened at Rs. 133.90, up 6.69 percent from yesterday’s close of Rs. 125.50, and the opening is also the day high for the stock.

Update from Company

The company informed that they have acquired an Industrial land situated at Plot No – C 105 & C 105 / 1, situated at Mahad, Industrial Area, at Village Birwadi, Raigad, Maharashtra. Along with the land they have also acquired the factory building. The acquisition has been done for further business expansion.  

The company has major operations in Fine chemicals, specialty Chemicals, and Performace Chemicals. With 10 manufacturing sites across Baroda, Dombivli, Rabale, Tarapur, Dhule & Mahad with four new manufacturing sites underway 

Also read: 20% Upper Circuit: Microcap stock skyrockets after promoter increases stake

Financial Highlights

The company reported a 33.50 percent YoY increase in revenue from Rs. 194 Crore in Q3FY24 to Rs. 259 Crore in Q3FY25. On a QoQ basis, the company reported a decrease of 3.71 percent in revenue from Rs. 269 Crore in the previous quarter.

Their Net profit saw an increase of 10 percent YoY from Rs. 10 Crore to Rs. 11 Crore for the same period. On a QoQ basis, the company reported a decrease of 21.42 percent in Net profit from Rs. 14 Crore in the previous quarter.

About the Company

Established in 1994 and headquartered in Thane, Maharashtra, Indo Amines Limited (IAL) is an Indian chemical manufacturing company specializing in the production of fine chemicals, specialty chemicals, performance chemicals, perfumery chemicals, and active pharmaceutical ingredients (APIs). These products are used in various industries, like pharmaceuticals, petrochemicals, road construction, pesticides, dyes, and intermediates, among others.

Written By Abhishek Das

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