Chemplast Sanmar Ltd. Managing Director Ramkumar Shankar
Specialty chemical substances maker Chemplast Sanmar Ltd. is planning to take a position ₹1,000 crore for increasing capacities of Speciality Paste PVC unit at Cuddalore and Custom Manufactured Chemicals Division’s (CMCD) unit at Berigai, managing director Ramkumar Shankar stated.
“As we forge ahead, propelled by the robust growth momentum, we are investing over ₹.1,000 crore towards expanding our capacities in the Speciality Paste PVC and CMCD,” he stated within the newest annual report.
According to him, these expansion initiatives are at present in progress. The 41 ktpa Speciality Paste PVC undertaking is on observe and will likely be commissioned throughout the second half of FY24 whereas Phase 1 of the CMCD will go on stream by the primary half of FY24 and subsequent part by the tip of FY24.
On the medium to long-term outlook, he stated the demand for all of the merchandise appeared very sturdy and the power prices had began dropping.
While there are fast challenges, the corporate is optimistic in regards to the general enterprise situation and the capital investments will increase the margins and aggressive place even additional, he stated.
Asserting that they’d proceed to considerably develop within the CMCD enterprise, he stated: “We plan to further expand into fine chemicals and pharmaceuticals sectors, broaden our portfolio and access new markets and customers. We will also invest opportunistically to retain our leadership position in the Chlorovinyl space.”
Talking in regards to the proposed expansion, CFO N. Muralidharan stated: “These strategic investments serve as testimonials to our commitment to stay focussed on innovation, enabling us to seize opportunities that come our way.”
He additionally stated the Suspension PVC chain is one other potential space for development. However, the capital allocation will rely upon securing secure feedstock provides.
“Moving ahead, we’ll regularly attempt for enchancment, innovation, know-how funding, collaboration and embrace rising tendencies to take care of our aggressive edge, stated chairman Vijay Sankar.
