"The company is not producing Hydrazine Hydrate at present. Therefore, there is no existing capacity of Hydrazine Hydrate," said Gujarat Alkalies in a press note to the exchanges on Friday.
Accordingly, the company will establish a project through the engineering, procurement, construction, and management (EPCM) mode. "The project, when implemented, will contribute ~Rs300cr in sales at prevailing market prices," the company added.
Gujarat Alkalies "will fund the project cost from internal accruals and the surplus generated from internal operations; need-based gap, if any, shall be met from External Commercial Borrowings (ECB) or rupee term loans," the company added.
Gujarat Alkalies & Chemicals share price is currently at Rs544.30, up Rs3.75, or 0.69%, from its previous close of Rs540.55 on the BSE.
The scrip opened at Rs543.10 and has touched a high and low of Rs549.10 and Rs539.05, respectively. So far, 40,550 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs3,969.80cr.