NOCIL gains on expansion of plant capacity
DSIJ Intelligence / 17 Mar 2017
The board of NOCIL has approved capacity expansion of Navi Mumbai & Dahej facilities. The company’s capital expenditure envisaged for expansion is approximately Rs 170 crore.
The board of NOCIL has approved capacity expansion of Navi Mumbai & Dahej facilities. The company’s capital expenditure envisaged for expansion is approximately Rs 170 crore. Its expansion project is likely to be commissioned by end of Q2FY19.
NOCIL’s capital expenditure will be financed largely through internal accruals. The company’s Dahej plant is a zero-wastage plant, resulting in significant cost reduction. It has strong pipeline of new generation rubber chemicals.
On the financial front, NOCIL’s revenue increased 4.2 per cent in Q3FY17 as compared to same period in previous financial year. The company’s EBITDA too rose 10.6 per cent to Rs 40 crore in Q3FY17 on a yearly basis. Its net profit also boosted 26.8 per cent to Rs 25 crore in Q3FY17 as compared to same period in previous fiscal.
The stock price of NOCIL increased 2.95 per cent in early trade, and is trading at Rs 86.55 on an intraday basis. The company’s stock price has hit new 52 week high at Rs 87.35, on Friday.
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