Tanfac Industries Ltd Share Price – NSE  / BSE

Chemicals, Small Cap

Net profit of Tanfac Industries rose 69.83% to Rs 19.31 crore in the quarter ended September 2024 as against Rs 11.37 crore during the previous quarter ended September 2023. Sales rose 37.04% to Rs 111.51 crore in the quarter ended September 2024 as against Rs 81.37 crore during the previous quarter ended September 2023.

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Tanfac Industries will hold a meeting of the Board of Directors of the Company on 23 October 2024.

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In February last year, the company had announced its decision to expand hydrofluoric (HF) acid capacity in its existing unit from 14,850 MT to 29,700 MT. The project was to be implemented in a period of 15 to 18 months.

In a regulatory filing made before market hours today, Tanfac stated that it has completed the expansion project and commissioned the expanded capacity on 7 October 2024.

K. Sendhil Naathan, managing director of Tanfac Industries, said: “We are excited to announce that we have completed the expansion project at the cost of around Rs 100 crore and commissioned the new State of the art HF plant as planned.

With this TANFAC site has become one of the largest HF plants in India. In line with earlier communication, we intend to use majority of HF to manufacture high-end specialty fluoride molecules within our group companies. This expansion will sustain our growth trajectory going forward.”

Tanfac Industries (TIL) is a joint venture (JV) between Tamil Nadu Industrial Development Corporation (TIDCO) and Anupam Rasayan India (ARIL); the management control vests with ARIL. The company mainly produces hydrofluoric acid (HF) and aluminium fluoride (ALF). TIL also produces sulphuric acid. In addition, it manufactures specialty fluorides that are sold to diverse customers.

The company's net profit declined 38.61% to Rs 11.29 crore on a 10.20% fall in sales to Rs 95.35 crore in Q1 FY25 over Q1 FY24.

The scrip shed 0.17% to currently trade at Rs 1983.05 on the BSE.

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Tanfac Industries has completed the brownfield expansion project of its hydrofluoric acid capacity from its existing unit from 45 MT to 90 MT and commissioned expanded capacity on 07 October 2024.

Speaking on the occasion, K. Sendhil Naathan, Managing Director of Tanfac Industries, said, “We are excited to announce that we have completed the expansion project at the cost of around Rs 100 crore and commissioned the new State of the art HF plant as planned. With thisTANFAC site has become one of the largest HF plants in India. In line with earlier communication, we intend to use majority of HF to manufacture high-end specialty fluoride molecules within our group companies. This expansion will sustain our growth trajectory going forward.”

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