UPL Ltd., a leading agrochemical company, has recently reported its financial results for Q4 FY23 and the full fiscal year. The company’s PAT (Profit After Tax) for the quarter was INR 7.92 billion, a significant decline of 43% compared to the corresponding period last year when it was INR 13.79 billion. However, the company’s revenue … Read more
Chennai Petroleum Corporation Ltd (CPCL) has recorded a commendable financial performance for the financial year 2023. This can be attributed to factors such as improved capacity utilization, the addition of Russian crude to its portfolio, higher sales of value-added products, and cost savings in energy usage. Q4 Results – QoQ Chennai Petroleum Corporation Limited (CPCL) … Read more
India’s Reliance Industries Limited (RIL) has reported a significant increase in profitability in its oil-to-chemical (O2C) business. This is attributed to India sourcing cheaper crude oil from Russia. Despite global uncertainties and disruptions in commodity trade flows, the company’s O2C segment posted its highest-ever operating profit. Chairman and Managing Director Mukesh Ambani noted that RIL’s … Read more
Bharat Petroleum Corp Ltd (BPCL), a state-owned company in India, has announced plans to invest between Rs 430-500 billion ($5.2-6.1 billion) to expand its Bina refinery and construct a petrochemical complex in central Madhya Pradesh state. BPCL has received the necessary approvals from the state government for the project. The proposed petrochemical complex is set … Read more
Anupam Rasayan India Ltd, a chemical manufacturer, announced on Thursday that it has signed a letter of intent (LoI) worth $182 million (Rs 15 billion) with a leading Japanese multinational to produce and supply three high-value specialty chemicals. New Molecules for Specialised Polymers and Liquid Crystals The three molecules to be manufactured by Anupam Rasayan … Read more
Neogen Chemicals Limited, a prominent Indian manufacturer of specialty chemicals based on Bromine and Lithium, has signed a license agreement with MU Ionic Solutions Corporation (MUIS), a joint venture between Mitsubishi Chemical Corporation (MCC) and UBE Corporation. As part of the agreement, Neogen will obtain proprietary and confidential manufacturing technology for making electrolyte solutions, which … Read more
Chambal Fertilisers and Chemicals Limited, a leading producer of urea fertilizers in India, has recently awarded an engineering, procurement, and construction (EPC) contract to Larsen & Toubro Limited on April 5, 2023. The contract is for the Technical Ammonium Nitrate (TAN) Project, which involves setting up a new plant for the manufacture of Technical Ammonium … Read more
Indigo Paints, one of India’s leading paint companies, has acquired a 51% controlling stake in Apple Chemie India Private Limited (ACIPL), a rapidly growing firm specializing in construction chemicals and waterproofing. The acquisition was a combination of primary capital infusion and secondary share purchase transactions with the promoters, with Indigo Paints having the option to … Read more
Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) have signed a Memorandum of Understanding (MoU) for synergy in the purchase and sale of hydrogen between the refineries they operate in Mumbai. This one-of-a-kind strategic partnership between the two oil marketing companies is aimed at ensuring sustained refinery operations and uninterrupted product availability … Read more
ExxonMobil said it is investing nearly INR 9 billion (USD $110 million) to build a lubricant manufacturing plant at the Maharashtra Industrial Development Corporation’s Isambe Industrial Area in Raigad. The company made the announcement in the presence of Deputy Chief Minister Devendra Fadnavis, Industry Minister Uday Samant, and senior officials from Maharashtra. • Investing nearly … Read more
Croda India, a wholly-owned subsidiary of UK-based Croda International Plc and a leading player in specialty chemicals, has announced plans to construct a new manufacturing facility at Dahej in the state of Gujarat. The company has earmarked an investment of Rs 5 billion for the first phase of the project, which will focus on producing … Read more
Evonik Catalysts has announced its plans to increase production capacities for its activated nickel powder catalysts marketed under the KALCAT and Metalyst brands. The company is set to expand its production sites in Hanau, Germany, and Dombivli, India in response to the growing demand for precious metal-free powder hydrogenation catalysts in the pharmaceutical, agrochemical, and … Read more
Anupam Rasayan, a leading manufacturer of specialty chemicals in India, has signed a memorandum of understanding (MoU) with the Government of Gujarat to set up three new chemical plants. The company will invest Rs. 67 billion in the brownfield expansions, which will be located in Surat and Bharuch in Gujarat. The plants are expected to … Read more
Navin Fluorine Advanced Sciences Limited (NFASL), a wholly-owned subsidiary of Navin Fluorine International Limited, has announced that it has approved a capital expenditure of Rs 4.5 billion to set up a new hydrofluoric acid (HF) capacity at Dahej. The new facility will have a capacity of 40,000 tonnes per annum, which will be in addition … Read more
GAIL (India), a leading natural gas company with diverse interests across the natural gas value chain, has signed an MoU with Shell Energy India to explore opportunities in different facets of the energy value chain. The move is aimed at achieving improved sustainability in GAIL’s business operations. To diversify the feedstock for its petrochemical plant, … Read more
The Board of Directors of Madhya Bharat Agro products Ltd (MBAPL) has given in-principal approval for setting up a new 1000 TPD DAP/NPK Fertilizers with Phosphoric acid Plant. The decision was made during a meeting held on March 14, 2023, which was concluded in a brief time of 45 minutes. According to company officials, the … Read more
German chemical company BASF has started producing its first bio-based polyol, Sovermol®, at its Mangalore site in India. The product meets the increasing demand for eco-friendly solutions in various industries, such as New Energy Vehicles (NEV), windmills, flooring, and protective industrial coatings in the Asia Pacific region. The Sovermol production facility is operational after comprehensive … Read more
Gulbrandsen, a global specialty chemicals leader, has started production of triethylaluminum (TEAL) at a new manufacturing facility located in Dahej, India, to meet increasing global demand. Aluminum Alkyls are used as co-catalysts for manufacturing polyolefins, synthetic rubber, pharmaceuticals, and other fine chemicals. “This investment supports Gulbrandsen’s commitment to meet the growing needs of our customers … Read more
Sumitomo Chemical India Limited recently faced an accident at their Bhavnagar site in Gujarat on February 24, 2023. Following this incident, the Gujarat Pollution Control Board (GPCB) issued an order on its website, instructing the company to restrict and close its operations at the Bhavnagar site. The GPCB has set certain conditions that the company … Read more
Gujarat Alkalies and Chemicals Limited (GACL), a leading player in the Indian chemical industry, has recently expanded its Caustic Soda Lye Plant at its Dahej Complex from 785 MTPD to 1310 MTPD in line with its growth plans. As a part of this expansion, a new 700 MTPD Caustic Evaporation Unit (CEU) has also been … Read more