Sub: Foray into manufacturing of Nano Urea (Liquid) Fertilizer through its Wholly Owned Subsidiary (WOS) Meghmani Crop Nutrition Ltd (MCNL)
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the Company forays into manufacturing of Nano Urea (Liquid) Fertilizer through its Wholly owned subsidiary Company i.e. Meghmani Crop Nutrition Limited. We are enclosing herewith brief information on forays into manufacturing of Nano Urea (Liquid) Fertilizer for the benefit and information of members and other stakeholders.
You are requested to take the same on your record and disseminate to the members.
Yours faithfully,
For, Meghmani Organics Limited
(Formerly known as Meghmani Organochem Limited)
Jayesh Patel
Company Secretary
ICSI Mem. No: A14898
Encl: As Above.
Meghmani Organics Limited (MOL) ) announces its foray into manufacturing of Nano Urea (Liquid ) Fertilizer through its Wholly Owned Subsidiary (WOS) Meghmani Crop Nutrition Ltd (MCNL).
Ahmedabad, December 23,2022: Meghmani Organics Limited (MOL) today announced that MCNL a wholly owned subsidiary has entered into a licensing agreement with one of leading domestic fertiliser manufacturer for producing Nano Urea (Liquid) Fertilizer by using their domestically developed patented Technology.
Nano urea is revolutionary Liquid Fertilizer and is effective in enhancing the nutritional quality, crop's productivity and additionally, it is environmentally safe. India's urea demand stands at 35 Million metric tons (MMT) per annum, of which nearly 29 MMT is produced domestically while the balance is imported. Government of India targets to eliminate India's dependency on urea imports by 2025 as more farmers adopt the usage of Nano Urea. Additionally, it will help reduce Government's subsidy burden on the conventional urea.
MCNL will incur a capex of INR 150 crore for setting up the plant in Gujarat. The plants annual capacity is pegged at 5 crore bottles (~500 ml) per year. MNCL is expected to commence the commercial production by Q4 FY24. MNCL projects to achieve a top line of INR 1,000 crores on an annual basis.
Foray into Liquid Fertilizers amplifies the growth strategy of the company and in agrochemical division. MOL's foray into Nano Urea is aligned with the Prime Minister's vision of Atmanirbhar Bharat and increasing farmers' income.
For additional information visit us at www.meghmani.com
Gurjant Singh Chahal, CFO
Bharat Mody, Advisor IR Strategies
ir@meghmani.com
bharat.mody@meghmani.com
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Meghmani Organics Ltd. published this content on 23 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 December 2022 06:23:02 UTC.
Meghmani Organics Limited is an India-based diversified chemicals company. The Company is engaged in manufacturing and selling pigment and agrochemical products. In the pigment business, the Company specializes in green and blue pigments, which have varied end-use applications in printing inks, paints and coatings and plastics. It has three pigment manufacturing facilities at Vatva, Panoli and Dahej SEZ in the state of Gujarat. The Company also exports its pigments. It manufactures three categories of agrochemical products, namely, pesticide intermediates, technical products, and formulations. Its agrochemical products include insecticides, herbicides and fungicides. Its agrochemical product applications include crop protection, veterinary, public health and wood protection. The Company's customer base includes multinational corporations (MNCs) and extends to more than 75 countries globally. It has six multifunctional production facilities located in Gujarat.
MEGHMANI ORGANICS LIMITED 
