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Meghmani Organics has signed a supply agreement with a leading global agrochemical company for a period of five years.

The partnership, for the supply of specific agrochemical products is valued at nearly $100 million.

No further details on the said agrochemical company and the other salient features of the deal are available.

For the September quarter, Meghmani reported a jump of 18 percent in overall sales while net profit remained flat from last year.

Last week, the company announced the commencement of operations at its Multi Product Plant in Dahej, Gujarat, where it will manufacture high-value insecticides. The total capacity of the plant is 5,000 TPA and the total turnover of the unit will be over Rs 600 crore in a full year of operation.

Shares of Meghmani Organics recovered from the day's low and are currently trading 2.8 percent higher at Rs 118.55.

(Edited by : Rukmani Krishna)