Aarti Industries gains 4% on $125 million multi-year deal

Aarti Ind

Aarti Industries shares gained 4 percent in morning on Wednesday after the company signed multi-year deal a global chemical conglomerate.

The contract entails supply of a high value specialty chemical intermediate for a period of 10 years.

“….signed a $125 million (Rs 900 crore at current Exchange Rate) supply contract with a leading global chemical conglomerate,” the chemical supplier said in its filing.

The plant is expected to commission in Q4 FY 2021, with average annual revenue of $12.5 million, it added.

Company estimates a capital investment of approximately $15 milllon to setup a commercial scale manufacturing facility for the production of this speciality chemical intermediate. The upcoming facility will be located in the state of Gujarat.

At 09:20 hours IST, the stock was quoting at Rs 1,332.00, up Rs 5.05, or 0.38 percent on the BSE.

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