The announcement was made before market hours today.

Chemplast Sanmar is a major manufacturer of specialty chemicals such as specialty paste PVC resin and custom manufactured chemicals for agro-chemical, pharmaceutical and fine chemicals sector. The company also produces other chemicals such as caustic soda, chloromethane products, hydrogen peroxide and refrigerant gas.

The company's consolidated net profit declined 32.41% to Rs 26.05 crore on a 17.30% fall in sales to Rs 987.75 crore in Q2 FY24 over Q2 FY23.

The scrip fell 1.06% to currently trade at Rs 465.15 on the BSE.