Indorama gets $300 Million Loan from IFC to Raise Recycling Capacity

The International Finance Corporation (IFC) has extended its maiden blue loan worth $300 million to Thailand-based Indorama Ventures, a leading plastic resin manufacturer, to fight marine pollution in Asia and Latin America. Indorama will utilise the loan to recycle 50 billion PET (polyethylene terephthalate) bottles globally per annum by 2025, with focus on Thailand, Indonesia, … Read more

Sudharshan Chemical Targets No.3 Spot in Global Pigment Manufacturing

Sudarshan Chemical Industries Ltd (SCIL), the largest pigment manufacturer in India (with >35% market share) is aiming to achieve the top 3rd position globally by market share by focusing on its core business, developing R&D, expanding to new markets, and improving manufacturing and operations. Currently, SCIL is the fourth-largest pigment manufacturer by market share, globally. … Read more

Bodal Chemicals to Deversify into Benzene Downstream, Expands Sulphuric Acid Capacity

Bodal Chemicals Ltd announced diversification into Benzene downstream products and expansion of Sulphuric Acid & Derivatives. The company intends to build a benzene plant with 55,000 MTPA capacity and expand Sulphuric Acid capacity to 340,000 MTPA at Saykha GIDC, Bharuch, Gujarat. The company said that these products will further enhance ‘Specialty Chemicals Segment’ for Bodal … Read more

Clariant Chemicals Reports Rs 191.8 Cr Net Profit for Q2 FY20-21

Clariant Chemicals Limited., an Indian subsidiary of specialty chemicals gaint Clariant AG announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company reported a net profit of Rs 191.8 crores for the period ended September 30, 2020 as against net profit of Rs 2.7 crores for the previous quarter. … Read more

Southern Petrochemicals Reports Rs 12.33 Cr Net Profit for Q2 FY20-21

Southern Petrochemicals Limited., a fertilizer manufacturer based in India announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit dropped 7.6% to Rs 12.33 crores for the period ended September 30, 2020 as against net profit of Rs 13.34 crores for the previous quarter. Net sales grew … Read more

Ganesh Benzoplast Reports Rs 9.55 Cr Net Profit for Q2 FY20-21

Ganesh Benzoplast Limited., an organic chemicals manufacturer based in India announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit dropped 33.1% to Rs 9.55 crores for the period ended September 30, 2020 as against net profit of Rs 14.27 crores for the previous quarter. Net sales … Read more

GAIL’s Petrochemicals Segment QoQ Sales Grew 37.9% for Q2 FY20-21

GAIL Ltd., state-owned petrochemicals manufacturer based in India announced its results for the second quarter ended September 30, 2020. Petrochemicals Segment Q2 Results- QoQ The segment’s net profit grew to Rs 176.31 crores for the period ended September 30, 2020 as against net loss of Rs 154.43 crores for the previous quarter. Net sales increased … Read more

Valiant Organics Reports 24.4% Net Profit Growth for Q2 QoQ FY20-21

Valiant Organics Limited., a specialty chemicals manufacturer based in India announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit increased 24.4% to Rs 30.7 crores for the period ended September 30, 2020 as against net profit of Rs 24.68 crores for the previous quarter. Net sales … Read more

Grasim Sells Indo Gulf Fertilizers to Indorama for $355 Million

Grasim Industries has decided to sell its fertilizer business to Indorama Corporation for Rs 2649 crore ($355 million). The flagship company of Aditya Birla Group on Thursday approved the divestment of its fertilizer business, Indo Gulf Fertilizers (IGF), by way of a slump sale to Indorama India Pvt Ltd (IIP), a subsidiary of Indorama Corporation … Read more

Indo Amines Reports 69.2% Net Profit Growth for Q2 YoY FY20-21

Indo Amines Limited., a manufacturer of organic amine-based fine chemicals, specialty and performance chemicals announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit increased 165% to Rs 6.65 crores for the period ended September 30, 2020 as against net profit of Rs 2.51 crores for the … Read more

SRF Reports 78% QoQ Net Profit Growth for Q2 FY20-21

SRF Limited., an industrial and specialty intermediates manufacturer announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit increased 78% to Rs 315.2 crores for the period ended September 30, 2020 as against net profit of Rs 177.09 crores for the previous quarter. Net sales grew 36% … Read more

Chemcon Reports 76.4% QoQ Net Profit Growth for Q2 FY20-21

Chemcon Speciality Chemicals Limited., a speciality chemicals manufacturer announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit increased 76.4% to Rs 15.58 crores for the period ended September 30, 2020 as against net profit of Rs 8.83 crores for the previous quarter. Net sales grew 34.1% … Read more

Transpek Industry Reports 96% Drop in YoY Net Profit Growth for Q2 FY20-21

Transpek Industry Limited., a sulphur-chlorine based chemicals manufacturer announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit declined 85% to Rs 0.57 crores for the period ended September 30, 2020 as against net profit of Rs 3.77 crores for the previous quarter. Net sales grew 1% … Read more

Reliance Petrochemicals Segment YoY Sales Decline 23% for Q2 FY20-21

Reliance Industries Ltd., one of the world’s largest petrochemicals manufacturer based in India announced its results for the second quarter ended September 30, 2020. Petrochemicals Segment Q2 Results- QoQ The segment’s earnings before interest and taxes (EBIT) grew 44.3% to Rs 4,895 crores for the period ended September 30, 2020 as against EBIT of Rs … Read more

Pidilite Industries Completes Acquisition of Huntsman’s India Subsidiary

Pidilite Industries Ltd announced that the company has completed the acquisition of 100% stake in Huntsman Advanced Materials Solutions Private Limited (HAMSPL), on 3rd November 2020. As such, HAMSPL will now be a subsidiary of Pidilite Industries Ltd, the company said. At its meeting on October 28, the board of Pidilite Industries approved a definitive … Read more

BASF, Adnoc, Borealis, Adani put $4 Bn India Petchem Project on Hold due to COVID-19

BASF said on Thursday that its plans to build a petrochemicals complex in India worth up to $4 billion with partners had been put on hold due to the economic uncertainty caused by the pandemic. As part of four-party Memorandum of Understanding (MoU), signed on October 4, 2019, Abu Dhabi National Oil Company (ADNOC), Adani … Read more

Hikal Records 323.1% YoY Net Profit Growth for Q2 FY20-21

Hikal Limited., a chemicals manufacturer based in India announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit grew 79.7% to Rs 26.95 crores for the period ended September 30, 2020 as against net profit of Rs 15 crores for the previous quarter. Net sales increased 5.5% … Read more

UPL Reports 76% Drop in YoY Net Profit Growth for Q2 FY20-21

UPL Limited., an agrochemicals manufacturer based in India announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit declined 30% to Rs 104 crores for the period ended September 30, 2020 as against net profit of Rs 149 crores for the previous quarter. Net sales grew 19% … Read more

Paushak Reports 18.3% Drop in YoY Net Profit Growth for Q2 FY20-21

Paushak Ltd., a specialty chemicals manufacturer based in India announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit declined 29.2% to Rs 6.11 crores for the period ended September 30, 2020 as against net profit of Rs 8.63 crores for the previous quarter. Net sales fell … Read more

Lubrizol, Grasim Industries Partner for India’s Largest CPVC Resin Plant

Lubrizol Advanced Materials, a global specialty chemical leader and the market leader for CPVC, and Grasim Industries Limited have entered into a definitive agreement to manufacture and supply CPVC resin in India to meet growing demand for chlorinated polyvinyl chloride (CPVC) pipe and fittings. Once commissioned, this near 100,000 metric-ton state-of-the-art CPVC plant at Grasim’s … Read more