NEW DELHI: Oriental Aromatics jumped 12 per cent in early trade on Friday after the company’s subsidiary received environmental clearance for the proposed Greenfield project.

The company in a filing said the Ministry of Environment accorded environmental clearance for the proposed Greenfield project for manufacturing of specialty chemicals and chemicals intermediates by

& Sons, a wholly-owned subsidiary of the company.

The company’s share price rose to a high of Rs 589 as against Rs 526.15 at the previous close on the BSE. The company is a smallcap firm, with a market capitalization of Rs 1,900 crore. The shares are trading above the short-term moving averages of 5,10,20 but below 50,100, 200-DMAs.

The company posted a 53 per cent year-on-year (YoY) decline in consolidated profit after tax (PAT) to Rs 10 crore in the fourth quarter ended March 2022. It had registered a profit after tax (PAT) of Rs 22 crore a year ago.

Revenue from operations in the reported quarter also declined by about 8 per cent to Rs 202.87 crore from Rs 221.38 crore in the March 2021 quarter.

Promoters held a 74.17 per cent stake in the company as of March 31, 2022, while FIIs owned 0.11 per cent and DIIs 0.63 per cent.


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