Sabero Organics' consolidated net profit grew 4 times year-on-year to Rs 16 crore and net sales jumped 57.5 percent to Rs 214 crore during July-September quarter.
The Sarigam unit of the company will be operating at about 60 percent capacity since it has not reached full capacity yet. Sabero Organics is targeting about 15 percent EBITDA going forward.
Fertiliser chemical manufacturer has received a letter from the Environmental Engineer, Gujarat Pollution Control Board (GPCB), Gandhi Nagar, advising to close production process at Sarigam Unit in Gujarat, stating that there were certain non-compliances of the environmental parameters.
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.