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The date of maturity of the said CPs is 4 January 2024. The coupon rate for the unsecured CPs is 7.35% per annum. They bear a credit rating "IND A1+" from India Ratings.
Laxmi Organic Industries is the flagship company of the Goenka Group. It is engaged in the business of acetyl intermediates and specialty chemicals. The company primarily manufactures ethyl acetate, acetic acid and diketene derivative products (DDP).
The company's consolidated net profit decline 40.5% to Rs 38.33 crore in O1 FY24 as compared with Rs 64.43 crore in Q1 FY23.The net sales decreased 3.0% YoY to Rs 733.58 crore in Q1 FY24.
The scrip rose 0.50% to settle at Rs 280.25 on Friday 6 October 2023.
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