PI Industries Ltd., an agrochemicals manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit declined 3.05% to Rs 2.23 billion for the period ended December 31, 2021 as against net profit of Rs 2.29 billion for the previous quarter. Net sales grew … Read more
Anupam Rasayan India Ltd’s board approved the acquisition of 24.96% stake in Tanfac Industries from Birla Group Holdings Private Limited and others for Rs 1.48 billion. “The board of directors has approved the acquisition of 24.96% of the total equity shareholding of and joint control of Tanfac Industries Limited (TIL) from Birla Group Holdings Private … Read more
Chemplast Sanmar Ltd., a chloralkali manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit grew 56.5% to Rs 2.37 billion for the period ended December 31, 2021 as against net profit of Rs 1.51 billion for the previous quarter. Net sales decreased … Read more
Honeywell and Navin Fluorine International Limited, part of the Padmanabh Mafatlal Group, announced a partnership to manufacture Honeywell’s proprietary Solstice range of hydrofluoroolefins (HFO) in India. Production is scheduled to commence by Q2-2022 at NFIL’s manufacturing facility in Gujarat. This portfolio of next generation products has no ozone depletion potential and a global warming potential … Read more
Pidilite Ltd., a specialty chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit declined 4.27% to Rs 3.59 billion for the period ended December 31, 2021 as against net profit of Rs 3.75 billion for the previous quarter. Net sales increased … Read more
SRF Ltd., an industrial and specialty intermediates manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit grew 32.2% to Rs 5.05 billion for the period ended December 31, 2021 as against net profit of Rs 3.82 billion for the previous quarter. Net … Read more
Air Liquide will invest around 3.5 billion Rupees (45.2 million euros) in a new Air Separation Unit (ASU) dedicated to Industrial Merchant activities in Kosi, in the state of Uttar Pradesh, Northern India. This unit will have a production capacity of 350 tons per day, with a maximum of 300 tons of oxygen. Air Liquide … Read more
DCM Shriram Ltd., a chloralkali manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit grew 121.4% to Rs 3.49 billion for the period ended December 31, 2021 as against net profit of Rs 1.57 billion for the previous quarter. Net sales increased … Read more
Bharat Petroleum Corporation Ltd (BPCL) has set up a superabsorbent polymer (SAP) technology demonstration plant of 200 tonnes per annum at the Kochi Refinery. The plant was inaugurated by BPCL’s executive director in-charge (refineries) Sanjay Khanna, in the presence of other officials. Using the in-house acrylic acid as feedstock, SAP technology is used in various … Read more
Toyo Ink India has opened a new gravure ink factory at its Gujarat site along the western coast of India. A part of the Tokyo-based global specialty chemicals conglomerate Toyo Ink Group, the new expansion will boost the company’s production capacity by more than 5,000 metric tonnes per annum. The new plant will allow Toyo … Read more
Adani Enterprises Limited (ARL) has incorporated a wholly owned subsidiary, Adani New Industries Limited (ANIL), on 30th December, 2021, with an initial authorized and paid-up share capital of Rs 100,000. The new subsidiary will undertake business of developing and operating projects for the synthesis of low carbon fuels and chemicals, generation of low carbon electricity, … Read more
Grasim Industries has commissioned caustic soda projects at Rehla, Jharkhand and Balabhadrapuram, Andhra Pradesh. The ongoing expansion project at Rehla has been completed and the company has successfully commissioned Phase-II of the expansion project — 80 tons per day (tpd) caustic soda lye at Rehla, taking overall caustic soda lye capacity of Rehla unit to … Read more
Meghmani Organics Limited (MOL) announced that it has completed an acquisition of Kilburn Chemicals Limited (KCL). MOL paid INR 1.32 billion as per the National Company Law Tribunal (NCLT) approved resolution plan dated 16th December 2021. Thus, the Company has diversified its Pigment Division’s product offering with Kilburn Chemicals acquisition, fast-tracking its foray into Titanium … Read more
Sika is opening a new technology center and manufacturing plant for high-quality adhesives and sealants in Pune, a city in the federal state of Maharashtra in India. Developments at the new R&D laboratories and the production in the new plant are aimed at meeting the rapidly growing demand in the Indian market. On its three … Read more
Smartchem Technologies Ltd. (STL), a 100% subsidiary of Deepak Fertilisers and Petrochemicals Corporation Ltd. (DFPCL), said it would invest ₹ 22 billion to set up a technical ammonium nitrate (TAN) complex at Gopalpur Industrial Park in Odisha. The ground-breaking and foundation-laying ceremony was held on Thursday. The project is located at Tata Steel Industrial Park, … Read more
GHCL announced that it entered into a business transfer agreement for divestment of its Home Textiles business to lndo Count Industries. The company said it expects to realise a consolidated sum of Rs 5.96 billion from the divestment of its business. As per the deal, the company will transfer its Home Textiles business for a … Read more
Versalis, Eni’s chemical company, has agreed to license the continuous mass technology for a 70,000 tone per year ABS unit to Supreme Petrochem Ltd. a leading Indian polystyrene and expandable polystyrene producer. The unit will be built in the Amdoshi –Wangani, District Raigad, in Maharashtra state, India. This state-of-the-art technology will produce styrenic polymers with … Read more
Asian Paints Ltd on Monday said it will invest Rs 9.6 billion ($127 million) to expand the manufacturing capacity of its facility situated at Ankleshwar in Gujarat. The company has signed a memorandum of understanding with the Government of Gujarat commencing the proposed expansion of manufacturing capacity of paint from 130,000 KL to 250,000 KL … Read more
Tata Chemicals Ltd. is in discussions with London-based Johnson Matthey Plc to buy the company’s battery materials business, the Mint news reported, citing two people with direct knowledge. Tata Chemicals is one of the frontrunners to acquire the assets, the two people told the Indian news daily. A deal for the battery materials unit could … Read more
India’s Reliance Industries (RIL) and Saudi Aramco have opted to shelve the $15 billion deal that would see the Saudi oil gaint take a 20% stake in RIL’s oil to chemicals (O2C) business. The pair signed a “non-binding Letter of Intent” in August 2019 for the sale, but RIL released a statement over the weekend … Read more