Paushak Limited receives approval for capacity expansion; stock shines
Paushak Limited has received approval to its application for the amendment in industrial licence from the Department for Promotion of Industrial & Internal Trade, Ministry of Commerce and Industry vide its communication dated August 3, 2020, for the expansion of licenced manufacturing capacity at its existing manufacturing facilities located at Panelav (Gujarat).
With this approval, the company has announced an expansion of licenced manufacturing capacity for Phosgene from 4,800 million tonnes (MT) per annum to 14,400 MT per annum and graded capacity for its other phosgene-based derivatives. The above-said referred approval will allow the company to gradually expand its capacity in a phased manner.
The company also reported its first-quarter result of FY21 on Tuesday where it recorded revenue of Rs 32.24 crore as against Rs 35.87 crore in Q1FY20. It posted PAT of Rs 8.63 crore in the quarter as against Rs 10.04 crore in Q1FY20.
The stock of Paushak Ltd in Wednesday’s trading session surged nearly 10 per cent to touch an intraday high of Rs 4,315 apiece.
Paushak Ltd is engaged in the manufacture of Phosgene and its derivatives. Phosgene is a versatile molecule and its derivatives have applications in diverse fields like pharmaceuticals, agrochemicals, polyurethanes, perfumeries, dyes, etc.