Sadhana Nitro Chem Ltd., a leading manufacturer of intermediate speciality chemicals, has embarked on a groundbreaking initiative to enter the green hydrogen market. The company plans to build a 15-20 MW green hydrogen facility powered by solar and wind energy, primarily for captive use at its existing plant and expansion of its para-aminophenol (pAP) production. This move aligns with Sadhana’s commitment to environmental sustainability and positions the company as a frontrunner in the green energy space.
To finance this ambitious project, Sadhana has announced a rights issue to raise up to Rs. 49.95 crores. The rights shares will be offered at Rs. 121 per share, representing a premium of Rs. 120. The funds raised will primarily be used for acquiring a 126-acre land plot to house the green hydrogen facility. This initiative demonstrates Sadhana’s proactive approach to securing its energy supply and achieving cost savings.
Building the green hydrogen facility offers several strategic advantages for Sadhana. It allows the company to:
Sadhana’s recent financial performance demonstrates its strong position in the market and bolsters its expansion plans:
Sadhana’s management anticipates continued growth in H2FY24, driven by declining Chinese inventories and rising global demand. This optimistic outlook is further supported by:
Sadhana Nitro Chem’s green hydrogen venture positions the company as a leader in sustainability and innovation within the intermediate speciality chemicals industry. This ambitious project, coupled with the strategic rights issue, provides the financial resources needed to fuel Sadhana’s growth and solidify its position as a global leader.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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