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Seya Industries shines on foraying into China for supply of specialty chemical intermediate

Seya Industries is currently trading at Rs. 389.50, up by 14.65 points or 3.91% from its previous closing of Rs. 374.85 on the BSE.

The scrip opened at Rs. 375.00 and has touched a high and low of Rs. 385.00 and Rs. 363.05 respectively. So far 2394 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 620.00 on 19-Nov-2018 and a 52 week low of Rs. 357.00 on 10-Oct-2019.

Last one week high and low of the scrip stood at Rs. 392.45 and Rs. 357.00 respectively. The current market cap of the company is Rs. 947.10 crore.

The promoters holding in the company stood at 74.53%, while Institutions and Non-Institutions held 8.24% and 17.22% respectively.

Seya Industries has entered into a Long-term export contract for Supply of one of its key products to a major Chinese Specialty Chemical Company. The supply contract is initially for a period of one year and of around $5 million. The contract is extendable for a period of 3 years with Total Value of upto $20 million. The company has commenced the exports for the contract.

The maiden foray through this contract will open up the market potential in the medium term. The long-term contract would contribute to sustainable volume pick up and utilization of its existing capacity. As a part of this contract terms, the customer shall provide a certain advance to the company in instalments, which shall be adjusted against supplies in future.

Seya Industries is engaged in manufacturing and exporting of Pigment, Pharmaceuticals, Agrochemicals and Rubber chemicals intermediates.

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