DCW jumped 8.16% to Rs 30.5 after the specialty chemical maker announced that it has completed refinancing its debt with the issuance of non-convertible debentures and optionally convertible debentures.In an exchange filing during market hours today, DCW said that it has completed the refinancing of its debt with the issuance of NCDs (non-convertible debentures) amounting Rs 350 crore and OCDs (optionally convertible debentures) to be converted into equity within 18 months, amounting to Rs 60 crore.
DCW said it will utilise the funds in refinancing the existing term loans and augment working capital. The company expects this fundraise to enhance capacity utilization, and meet increasing product demand. These NCD s carry a moratorium of 18 months and a tenure of six years.
On a consolidated basis, Galaxy Surfactants net profit surged 77.6% to Rs 85.23 crore on 7.8% rise in net sales to Rs 674.70 crore in Q3 FY21 over Q3 FY20.The specialty chemical maker said increase in revenue was on account of better sales volumes in both performance surfactants and specialty care business along with better sales mix. The chemical maker s consolidated total volume increased by 7.3% year on year to 58,238 MT.
Profit before tax surged 63.2% to Rs 103.22 crore in Q3 FY21 from Rs 63.23 crore in Q3 FY20. Current tax expense spiked 17.5% to Rs 18.7 crore in Q3 FY21 as against 15.91 crore in Q3 FY20.
EBITDA stood at Rs 122.5 crore, registering a 43% year on year growth, driven by increasing share of specialty, better product mix due to new products and higher capacity utilization. The board has declared interim dividend of Rs 14 per equity share.
BASF India jumped 3.89% to Rs 1700.55 after the specialty chemical maker reported a consolidated net profit of Rs 115.15 crore in Q3 FY21 as against net loss of Rs 32.38 crore in Q3 FY20.Net sales for Q3 FY21 grew 24.4% to Rs 2,506.54 crore as against Rs 2,014.38 crore in Q3 FY20. The result was announced during market hours today, 9 February 2021.
The company recorded a pre-tax profit of Rs 196.57 crore in Q3 FY21 as against a pre-tax loss of Rs 38.92 crore in Q3 FY20. The company posted a tax expense of Rs 81.42 crore in Q3 FY21 as against tax credit of Rs 6.54 crore in the same period last year
Navin Fluorine International posted a 29.7% rise in consolidated net profit to Rs 58.89 crore on a 18.7% rise in net sales to Rs 309.1 crore in Q3 FY21 over Q3 FY20.The chemical maker registered a 17.4% rise in profit before tax to Rs 79 crore in Q3 FY21 from Rs 67.29 crore in Q3 FY20. Current tax expense spiked by 19.7% to Rs 24.33 crore in Q3 FY21 over Q3 FY20.
Consolidated operating EBITDA jumped 23% YoY to Rs 80.5 crore in Q3 FY21 from Rs 65.5 crore in Q3 FY20. EBITDA margin improved by 90 basis points to 26% in Q3 FY21 from 25.1% in Q3 FY20.
Shares of Navin Fluorine were down 0.25% at Rs 2562. Navin Fluorine International is one of the largest manufacturer of fluorochemicals in India. The company has four strategic business units: Refrigeration Gases, Inorganic Fluorides, Speciality Fluorides & Contract Research and Manufacturing Services (CRAMS).
Tata Chemicals rose 3.99% to Rs 543.70, following the media report that the Tata Group company is in advanced talks to acquire the industrial salt unit of Archean Group.The media reported that Tata Chemicals is in advanced talks to acquire the industrial salt unit of Archean Group that could value the business at Rs 450 crore ($61 million) at a minimum. The board of Tata Chemicals is set to discuss the potential offer as soon as this month, the report added.
The BSE has sought clarification from Tata Chemicals on 13 January 2021, with reference to a media report. The reply is awaited.
Archean Group is a privately held business conglomerate, with diversified business interests across sectors including industrial salt, industrial chemicals & fertilizers, mining & minerals and granites. operations and strategic investments are spread across India, South America, Middle East, Africa, Far East and South East Asia.