Ishan Dyes & Chemicals Limited receives order of Rs. 40 crore

Ishan Dyes & Chemicals Limited ("IDCL" or "the Company") has received local and exports orders aggregating to 680 MT having approx. value of INR 40.00 Crores, thereby the entire production capacity of the Company is totally booked till end of 31st March 2021.

The Company is encouraged to mention that post lock down the demand for the products of the Company are very strong and is likely to remain strong for 2021 also for following main reasons:

- The products of the Company are mainly used for Inks, Paints, Plastics, Textiles, Rubbers and Coatings industry which are at present outperforming globally due to increase in demand and consumption of essential products like soap, detergent, foods, medical packaging, digital media etc.

- Strong international demand due to increased consumption by USA and European market

- Stimulus financial package by USA has increased liquidity accelerating growth and consumption

- India becoming preferred source of supply for the products manufactured by the Company due to reliability and quality production

- The advantage of consistent quality producer and supplier is supporting the Company to increase its business in terms of volume and value

In view of the prevailing situation, IDCL is expecting strong growth in the turnover both in terms of value and volume. Also due to strong demand the Company is able to improve its sales realization and margins which barring unforeseen circumstances the Company is anticipating to maintain and further improve.

Shares of ISHAN DYES & CHEMICALS LTD. was last trading in BSE at Rs.48 as compared to the previous close of Rs. 47.2. The total number of shares traded during the day was 31878 in over 90 trades.

The stock hit an intraday high of Rs. 48.95 and intraday low of 46.7. The net turnover during the day was Rs. 1533330.

Source : Equity Bulls

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