In an interview to CNBC-TV18, Ashish Soparkar, MD of Meghmani Organics said that chloromethane plant will be commissioned in Q4 of FY18.
Meghmani Organics, a chemical company that is into pigment products and a range of pesticides reported a steady set of numbers this quarter. There is an improvement in margins and profits as well aided by lower finance costs.
The basic chemical business is seeing very good growth because it is directly related to India‘s growth, said Ashish Soparkar, MD, Meghmani Organics, adding that the capacity utilisation for the segment is also at its optimum currently.
The company currently is sitting on a land bank of 2.7 million square feet at Sanand but has not plans of monetising it, said Ashish Soparkar, MD, Meghmani Organics.
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.
The government has allowed foreign direct investment in the development and production of seeds. In an interview with CNBC-TV18, Ashish Soparkar, MD, Meghmani Organics says, this is a good news for the company.