Meghmani Organics announced its fourth quarter results for the January to March period a couple of days back. The Pesticide manufacturer reported a loss of Rs 2.99 crores for the quarter ended March 31, 2011 versus Rs 12.14 crores for the quarter ended March 31, 2010.
Moreover, a closure notice showed by Gujarat Pollution Control Board (GPCB) to its pigment plant in Panoli has also become a matter of concern for the company since this negative news flow has affected its stock, dragging it down to a 52-week low of around Rs 10. Speaking to CNBC-TV18, Ashish Soparkar, managing director of Meghmani Organics, said that the Panoli plant is fully operational and the company hopes that the board and government will take positive action in the coming week, giving a green signal to the plant operations. Talking about the companyDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
