Alkyl Amines Chemicals’ board think about expansion plan

 Alkyl Amines Chemicals has informed its board of directors will consider the proposal for setting up of “new project(s) including amines” during its meeting scheduled for February 2, 2021. In a stock exchange fi ling, the fi rm said the board will also consider the proposal of sub-division of equity shares of the company from the face value of Rs. 5 to a lower denomination. Further, the company added that in the said meeting, the board will approve fi nancial results for the quarter and nine months ended December 31. The board will also consider the declaration of interim dividend, if any, on the equity shares of the company for the fi nancial year 2020-21. share of existing products. “Increased competition from global and domestic players are putting pressure on sales prices. Increase in prices of certain raw materials has also put pressure on contribution. 

However, with the global growth of chemicals focused more on Asia, it is expected that there will be further growth in the chemical industry,” the management said in FY20 annual report. During the year 2020-21, the management expects investments in various projects to add to both the top-line and bottom-line. The company will continue with its efforts for improving bottom-line by expanding product-range while re-looking at business strategies and models, wherever necessary, it said. Generally, a company plans to go for a stock split to make the shares more affordable for small retail investors and increase liquidity. In the past one year, the company’s stock has rallied 240%. For the year 2020-21, the management said the company’s focus will continue on sustainable growth by taking measures for increasing market.