The commercial operations at the said facility were commenced on 5 April 2023.

At the time of its initial public offer (IPO), Tatva Chintan Pharma Chem had announced that the company proposes to utilize the net proceeds of the fresh issue towards funding capital expenditure requirements for expansion of its Dahej manufacturing facility amounting Rs 147.1 crore, funding capital expenditure requirements for upgradation at its R&D facility in Vadodara amounting Rs 23.971 crore and balance towards general corporate purposes.

While commenting on Q1 FY23 results, Chintan Shah, managing director, had announced updates with regard to the company's then ongoing expansion at the Dahej unit. “The expansion is underway and progressing as schedule at our Dahej SEZ plant,” the company's MD had stated.

Tatva Chintan Pharma Chem is an integrated specialty chemical company, present across the value chain manufacturing phase transfer catalyst, structure directing agents, electrolyte salts and pharma & agrochemical intermediates and specialty chemicals.

The company's consolidated net profit declined 17.09% to Rs 17.51 crore on 9.33% decline in net sales to Rs 98.53 crore in Q4 March 2022 over Q4 March 2021.