Meghmani Organics said that its subsidiary Meghmani Finechem (MFL) has bagged an order worth Rs 650 million to set up Caustic Potash plant of 60 Mt. Per day at its existing manufacturing facility situated at Plot No. CH1, CH2, GIDC Dahej, Bharuch.

The project is to commence commercial production by September, 2015. MFL will earn revenue of Rs 1.3 billion and Profit before Tax of Rs 170 million, in full financial operation of financial year 2016-17.

Shares of the company declined Rs 1.05, or 3.86%, to trade at Rs 26.15. The total volume of shares traded was 396,374 at the BSE (3.07 p.m., Monday).