Khasdim has strong presence in tier III towns of eastern India and sells products under 10 brands.
Last year, the parent pumped Rs 1,120 crore into Ricoh India for 27 per cent stake in the company.
On the positive side, the volume in the European business rose by 13 per cent.
Company has raised prices by about 6% since January, but this doesn't seem to have dented demand.
Lithium, cobalt, and manganese are major metals used in the manufacturing of batteries.
Investors need to track the demand scenario in the coming quarters to confirm if a turnaround is indeed visible.
Globally, the prices of zinc have risen 20 per cent in the past three months.
Of the Rs 40,000 crore raised since April 2017, Rs 32,000 crore went towards giving a partial or full exit to PEs and in some cases to promoters.
The company's revenues have grown from Rs 69 crore in FY09 to Rs 2,230 crore in FY17.
With the exemption on PMLA, the 2nd half of the fiscal is likely to be strong for the company.
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