Mcon Rasayan India Limited — Important, 12-11-2024: Updates

Mcon Rasayan has received special approval from the Maharashtra Housing Development Corporation (MHDC) to supply its specialty building chemicals to all Pradhan Mantri Awas Yojana (PMAY) projects across Maharashtra. With approximately 80,000 Cr worth of projects sanctioned, this breakthrough allows Mcon to cater to around 850 housing projects that include nearly 9,85,591 units, of which only 30% are completed.

Additionally, the company has established a strategic franchise tie-up with a Solapur manufacturer for exclusive production under a FOCO (Franchise Owned, Company Operated) model, ensuring timely delivery and maintaining quality control while the franchisee will handle capital expenditures. The new manufacturing facility is expected to be operational by the end of December 2024, alongside ongoing supplies from the Vapi plant. This move positions Mcon favorably within the expanding housing sector, indicating a positive outlook for revenue growth and operational expansion.