Bombay HC directs MPCB to allow Hikal to re-open Taloja facilityHIKAL - 257 Change: -5.50 (-2.09 %)
News: Hikal had filed a writ petition in the Bombay High Court against the MPCB closure direction for Taloja facility and the court, vide its order dated June 23,2022 has set aside the MPCB direction and directed MPCB to grant permission to Hikal, to restart manufacturing activities at the company's manufacturing unit at MIDC Taloja within a week from the date of the order.
Views: Hikal’s Taloja plant reopening is a relief for pending order-book in crop protection, which has been built up over the course of this quarter. However, owing to the nature of the business at facility, Hikal will have to gradually ramp up the scale of operations, which could have some short-term impact on crop protection business. Overall, resuming Taloja unit is a positive development for Hikal, which contributed ~ Rs 260 crore (15% of turnover in FY21).