Chemcrux Enterprises - A dark horse?

EC granted. and that too in B2 category - good news finally.
Next triggers on this counter - results on Monday and hopefully soon main board listing

surprising to see no communication from the company to exchange - may be they are waiting for official letter as it shows below this was granted on couple of days ago

disc: invested, transacted this week

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Yes, until the official letter is issued, they can’t inform to exchanges based on the online status. Soon it will come.

@Bikash , would it be possible to share the precise link to search this information in Parivesh site? Thanks.

http://environmentclearance.nic.in/onlineTrackproposal.aspx?type=EC&status=11&statename=Gujarat&pno=SIA/GJ/IND2/151592/2020

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Minutes_762nd_SEIAA_Meeting.pdf (251.4 KB)

The latest update here shows the querries by the SEIAA to the SEAC and to resubmit the application.

The below are from their application to the SEAC

  1. PESO does not apply to this as per their application submitted to the SEAC

  2. Solvents used are provided in their application too.

  3. The total number of products to be manufactured in any part of the year is three
    4.The construction post the EC is on the second or third floor and as for the green project, the company has to cultivate 33% of the total land in vegetation. Since this is the old approval the deficit land that the company couldn’t take up will be catered outside the plant premises.

  4. The company has acquired storage permissions and has a separate unit devoted to the storage facility.

  5. Water permissions have been obtained by authorities and are well within the limits of utility.
    All the above are from the applications to SEAC.

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So, from this latest update, the EC is still awaited for the proposed expansion. It sounds like just a matter of few more weeks or months?

Minutes_795th_SEIAA_Meeting.pdf (317.9 KB)

Finally the much awaited EC is granted.
Thank you @ayushmit for guiding and building my conviction.
A long way to go from now.

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and finally company announcement as well

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Good timely update. Nice work @karanthharsha999 !

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Thank you @ayushmit for the kind words.
it’s encouraging and very humble of you to acknowledge.
Looking forward to the company expansion plans and their execution in the financial year leading to sales growth without any delays.
If you can share any insights or knowledge on the same, would be valuable.
Thank you once again @ayushmit you’ve been an inspiration.

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Thanks for your kind words but I don’t think I have been able to contribute too much. many of the members have done good work on the thread and brought out the good points around the company and its business.

Broadly, Chemcrux had been eagerly waiting for this approval and was aiming to double their business post the approval but the process took too long. Interestingly the H1 results were pretty good and the company could grew without any new capacity - it could be due to better product mix or maybe pricing.

Numbers of Chemcrux have been high quality till now. Its not easy to come across cos doing 40%+ gross margins and 25%+ operating margins. If they can double the business over next 2 years keeping these ratios intact…it will be great.

Ayush
Disc: Invested in family acs and client acs

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Generally speaking, would the construction of any plant happen during the EC-process itself(even before EC being granted) or would it need to be started strictly after the EC? How does it typically work? If a plant is to be constructed after the EC, what could be like some sort of typical time-duration for the construction completion?

Also would there any further approvals needed to start the production post-the-EC or EC itself is the final thing?

5_6314375577579029528.pdf (36.8 KB)

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When will they get NOC from GPCB, and how long they would take for full capacity utilization?
As per project estimates shared by them, it would take roughly 13 months to commercialize post NOC.

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Today Chemcrux got EC Approval for its Industrial Project 2 in Anklesvar, Gujarat. Which the company filed in February last year.

The specified unit is proposed to manufacture Pharma & its Intermediates. Total Production capacity going forward will be 836.33 MT / Month, which is currently 488.33 MT / Month.

The expected cost of the proposed project is about 6 Cr.
Break up of the mentioned cost will be:

  • Building - 2 Cr.
  • Machinery - 2.6 Cr.
  • Miscellaneous - 1.3 Cr.
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@karanthharsha999, Can you please share the original announcement along with the source. Thanks

google search finds it.

Finally Company got approval for Migration of Equity Shares of Chemcrux Enterprises Limited from BSE SME Platform to BSE Mainboard Platform.

Trading Members of the Exchange are hereby informed that effective from Thursday , May 05, 2022 , the equity shares of Chemcrux Enterprises Limited which are already listed under BSE SME Platform will now be migrated & admitted to dealings on the Mainboard Platform in the list of ‘B’ Group.

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692dadf5-2078-44ce-b0bf-b626d691d644.pdf (541.2 KB)

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Hi, i was going through this tread and earlier it was mentioned that they were asked to apply under B1 category instead of B2 category. However now they were granted EC under B2 category. Can someone please shed some light on this?