The new order and new volume expansion will allow it to target and focus on the FMCG industry and niche segments within it, to drive future growth.
Buy / Sell Fineotex Chem share
Recommended ArticlesView All
Decoding multi-year health insurance policy — What is it and what are key benefits?
IST3 Min(s) Read
View | Pakistan Election: Will Imran Khan's changed tack from long march to resignations to snap poll work?
IST5 Min(s) Read
View | G20 Presidency: India can shape global Web3 narrative
IST6 Min(s) Read
Fineotex Chemical Ltd. secured a specialty performance chemical order from a leading FMCG company on Tuesday. The value of the order is said to be worth Rs 150 crore. The order will be executed at the company's facility in Ambernath.
The company attributed the order to its focus on contract performance and efforts to build long-term global relationships with customers.
It expects the new order to allow further exploration in partnerships within the global FMCG market for the supply of cleaning and hygiene products.
Additionally, Fineotex has also expanded capacity at its Ambernath facility by an additional 21,000 tonnes, taking the total capacity to 1.04 lakh tonnes per annum. The expansion will help the company cater to future potential orders as well.
The facility is equipped with the latest new-generation infrastructure with modern amenities which are essential to produce chemicals in a sustainable way.
The company intends to focus on FMCG and niche segments to drive future growth opportunities.
No information has been shared on the capital expenditure undertaken by the company to expand capacity at the Ambernath unit.
The company's shares ended at Rs 340.45, up 0.96 percent.