Chemfab Alkalis Limited has reportedly commenced the PVC-0 project at the company’s manufacturing facility in Sri city, Tada, Andhra Pradesh. The project was successfully commissioned on Saturday, 22 December 2018 and is aimed at manufacturing and selling PVC-O pipes & fittings, sources familiar with the matter informed.
For the record, Chemfab Alkalis Limited (CAL) is a group company of Dr. Rao Holdings Pte. Ltd, which is based out of Singapore. CAL is operating in the chemical industry segment in India and the firm is involved in the manufacture of products like Barium Sulphate, Hydrochloric Acid, Liquid Chlorine as well as Caustic Soda Lye in two grades (33% & 48%), among several others.
Market reports show that the prices of Chemfab Alkalis Ltd (Merged) ended the day at Rs 261.40, down by 5.41% or Rs 14.95 from its previous BSE closing price of Rs 276.35. The scrip had opened at Rs 277.20 and had reached a high of Rs 278.15 and low of Rs 260. In total, 25,513 shares of the company had been traded on the counter, both NSE and BSE combined.
Reports further mentioned that Chemfab Alkalis had reported a net loss of Rs 7.03 crore for Q2 Sept. 2018 in comparison to a net profit of Rs 6.36 crore in Q2 Sept. 2017. Net sales had supposedly fallen 2.27% to Rs 43.57 crore in Q2 Sept. 2018 over Q2 Sept. 2017.
Chemfab Alkalis was allegedly the first company in India to utilize power saving ion exchange membrane cell technology for manufacturing caustic soda. After the successful implementation of the technology, the Government of India had taken a policy decision advising that no more caustic soda plants that use mercury cells would be permitted to set-up or even expand and all caustic soda plants in India in the future must use the membrane cell technology.