Meghmani Finechem Limited (MFL), India’s leading integrated chemical manufacturer, posted a 27% jump in its revenue for Q3FY23 to Rs 538 crore as compared to Q3 of FY22. Commenting on the results, Maulik Patel; Chairman and Managing Director, MFL said: “We have witnessed 18% volume growth in Q3FY23 resulting in YoY revenue growth of 27%. Even in this volatile market, we have seen volume growth in all our products and have also grown on absolute basis. The new products that we commissioned in 9MFY23 have started contributing to P&L and we expect that contribution to enhance from Q4FY23 onwards. Revenue contribution from Derivatives & Specialty segment increased to 31% in Q3FY23 vs 25% in Q3FY22. For CPVC resin, our product is well accepted by all customers and we are expected to reach optimum capacity utilization in Q4FY23. Considering the market size and growth potential, we are increasing our CPVC resin capacity to 75,000 TPA, by adding another 45,000 TPA. As we a...

SABIC, a global leader in the chemical industry, has joined an innovative project with value chain partners to help UPM Raflatac launch the world’s first packaging label materials made from SABIC certified circular polypropylene (PP) based on advanced recycled ocean bound plastic (OBP). The label materials are marketed under the UPM Raflatac Ocean Action trademark. “We are proud to offer our customers another more sustainable choice through the advanced recycling of used plastic that could otherwise end up in our rivers and oceans,” adds Lada Kurelec, General Manager PP, PET, PS, PVC, PU & Elastomers Businesses for Petrochemicals at SABIC. “These labels containing ocean bound plastic connect with our TRUCIRCLE program of circular solutions designed to help reduce plastic waste, mitigate fossil depletion and protect our planet.” Ocean bound plastic is abandoned plastic waste found in areas up to 50 km inland from waterways that may...