Sudarshan Chemical shines as second facility resume operations

Sudarshan Chemical Industries Limited has informed the bourses that it has received necessary permissions to restart production at its manufacturing facility located at Mahad (Maharashtra).

Earlier on April 7 2020, the company had restarted its facility at Roha (Maharashtra) after receiving approval from the appropriate authority.

The company has also informed that it is undertaking all safety measures and guidelines, including standard operating procedure for social distancing at the said sites, as issued by Government of India.

After the announcement of 21-day lockdown in India, from March 25 2020, the company’s manufacturing facilities at Roha & Mahad as well as company’s other offices were temporarily suspended due to pandemic of novel Coronavirus (COVID-19).

The manufacturing site at Roha was built in 1973 and products like AZO, HPP, effect pigments and dispersions are manufactured at this facility. Whereas, the manufacturing site at Mahad was built in 1993 and B&G, HPP, effect pigments, etc are manufactured there.

Also, India Ratings & Research (Ind-Ra) has revised the company’s outlook to positive from stable while, affirming its long-term issuer rating at ‘IND A+’.

Sudarshan Chemical Industries is a leading, world-class colour solutions provider with a strong global outreach in the production of performance colourants, an extensive range of organic, inorganic and pearlescent pigments as well as dispersions. It is the largest pigment producer in India with 35 per cent market share.

On Friday, the stock of Sudarshan Chemical jumped 7.2 per cent to Rs 439.95 from its previous close of Rs 410.50 on BSE.