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Pharma will cover up revenue drop of oil well sector: Chemcon Speciality

Updated : October 20, 2020 05:08 PM IST

“We will be having a cash surplus in the coming time and the cost of finance will be nullified using finance available to us from the IPO proceeds,” said Kamalkumar Aggarwal, CMD of Chemcon Speciality Chemicals in an interview to CNBC-TV18.

On SEBI settlement case, he said, “Within this week it will be settled; the matter will be taken care by the promoters. It has nothing to do with the company.”

Speaking about business, Aggarwal said the oil well chemical business has been impacted drastically due to decline in oil and gas business.

“Oil well sector revenue drop would be covered up by the pharma sector; it would be balanced up and margins would also be taken care of,” he added.

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