Shree Pushkar Chemicals & Fertilisers has drawn up capital expenditure (capex) plans worth Rs 120 crore. The funds will come from internal accruals. The company will invest Rs 75 crore in the dye intermediaries’ segment. The project is expected to commence production in FY21.

The company is also in the process of acquiring Madhya Bharat Phosphate through the National Company Law Tribunal (NCLT) process for Rs 28 crore. Additionally, it will infuse Rs 12 crore in a solar park at Lote Parshuram MIDC in Maharashtra and revamp the existing manufacturing facilities at an investment of Rs five crore.

The company’s revenue was expected to increase to Rs 650 crore by 2020-21 on the back of capacity addition and revamp its existing unit.

Currently, the company exports dyes and dye intermediates to Europe, China, Pakistan and Bangladesh, and is looking for new markets in South America and Turkey, besides growing its domestic market share in phases.