Yasho Industries, which is into speciality chemicals, Tuesday said it has completed Rs 40 crore expansion plan to increase manufacturing capacities by 2,500 tonnes per annum at its facility in Gujarat.

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Yasho Industries is a leading manufacturer of aroma, antioxidants, rubber chemicals, specialty chemicals and lube additives. It is a BSE SME listed company and launched its initial public offer in March 2018, to raise Rs 29 crore.

The company said in a statement that it has completed "planned expansion of Rs 40 crore to its rubber chemicals & lube addictive manufacturing capacities."

Post-expansion, the total capacity stands at 8,000 tonnes, it added.

"After raising the money from the IPO, we have successfully completed our expansion program at our existing site in Vapi, Gujarat. We are very positive about the growing demand for our products, due to existing industrial & trade conditions in China," said Parag Jhaveri, MD of Yasho Industries.

The company achieved robust growth of 35 per cent year-on-year in revenues during the last fiscal at Rs 343.41 crore. Its net profit grew by 49 per cent to nearly Rs 12 crore.

"We already have significant presence in international markets like Europe, USA, Asia, Middle East, Latin America, Africa, Australia etc. With the additional capacities on stream we are poised to continue our growth trajectory and expanding our footprint in India and internationally," he said.