Microcap stock that is engaged in the manufacturing of Boron products and Lithium Hydroxide received consent to operate from Madhya Pradesh State Pollution Control Board for its new chemical plant.
On November 13, 2023, the shares of Indo Borax and Chemicals Limited closed at Rs. 151, down 0.20 percent from its previous day close price of Rs. 151.30 and its market capitalization is Rs. 494 Crores.
As per the company’s filing on BSE, Borax and Chemicals Limited has received consent to operate from Madhya Pradesh State Pollution Control Board for its new value added Boric Acid Derivative, Agricultural Chemical Di Sodium Octaborate Tetrahydrate (DOT) plant.
Its revenue from operations grew 28.09 percent from Rs. 175.72 Crores in FY22 to Rs. 225.08 Crores in FY23, accompanied by increasing profits of Rs. 37.55 Crores to Rs. 51.11 Crores and it has reported net profit margins of 22.52 percent in FY23.
It has reported a return on equity (ROE) of 21.94 percent and a return on capital employed (ROCE) of 29.89 percent, it is making good returns on its equity and capital employed.
Indo Borax and Chemicals Limited is engaged in the manufacturing and selling of Boron and Lithium products which include Boric Acid Technical Grade Powder & Granular, Boric Acid IP Grade (Indian Pharmacopoeia Grade) Powder & Granular, and Lithium Hydroxide Monohydrate.
Written by: Bharath K.S
