Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Paradeep Phosphates Ltd. ( (IN:PARADEEP) ) has issued an announcement.
Paradeep Phosphates Ltd. has disclosed that the Customs Department has issued a seizure memo covering 25,000 metric tonnes of technical grade urea, valued at about Rs 103.30 crore, imported for use as a raw material in its NPK fertiliser production at its Goa plant. The seizure follows customs testing that found the biuret content in the imported urea exceeded permissible limits, with authorities alleging violations of a DGFT notification, the Foreign Trade Policy and the Customs Act; the company disputes the testing methodology, is seeking provisional release of the goods for captive use, has requested retesting under the relevant Indian Standard, and currently does not expect a material impact on its financials or operations, though the development underscores regulatory and supply-chain risks for stakeholders.
More about Paradeep Phosphates Ltd.
Paradeep Phosphates Limited is a fertiliser manufacturer focused on producing NPK fertilisers, using imported raw materials such as technical grade urea, with manufacturing operations that include a plant in Goa serving the agricultural inputs market in India.
Average Trading Volume: 320,679
Technical Sentiment Signal: Hold
Current Market Cap: 133.8B INR
See more insights into PARADEEP stock on TipRanks’ Stock Analysis page.