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Chemical Industry
SRF Ltd, a chemical-based multi-business company, reported a 92.72 per cent jump in consolidated net profit to Rs 388.18 crore for the second quarter ended September 30, driven by higher sales, the company said on Monday. Its net profit stood at Rs 201.42 crore in the July-September quarter of the previous fiscal year, according to a regulatory filing. The total income rose 6.30 per cent to Rs 3,640.19 crore during the quarter under review from Rs 3,424.30 crore in the year-ago period. Expenses fell to Rs 3,148.85 crore from Rs 3,173.97 crore. "We performed well this quarter, led by our chemicals business. While we are dealing with a very uncertain global environment, we remain confident of a good finish to the year," SRF Chairman and Managing Director Ashish Bharat Ram said. The chemicals business reported a 23 per cent increase in revenue to Rs 1,667 crore during the second quarter of this fiscal year from Rs 1,358 crore a year earlier. The performance films and foil business .
The government on Tuesday said extension of the export obligation period for chemical imports under the advance authorisation scheme from six to 18 months will provide much-needed relief to exporters amid concerns over steep US tariffs. "This measure extends essential support and flexibility to exporters dealing with chemicals and petrochemicals across India," the Ministry of Chemicals and Fertilisers said in a statement. The move is poised to simplify trade processes and elevate the global market edge of Indian goods. "The Export Obligation timeframe has now been extended from 6 months to 18 months, offering a substantial buffer to the industry," the statement added. Through the Advance Authorization Scheme, importers can bring in duty-free raw materials for export production without adhering to quality control orders (QCOs) for those inputs, ensuring a steady flow of export operations. A significant number of these authorizations cater to the chemical sector, emphasizing the val
The free trade agreement between India and the UK will help boost the country's chemical exports and domestic manufacturing as a number of product categories from the segment will enjoy duty-free access in Britain, CHEMEXCIL said on Sunday. Chemicals exporters body CHEMEXCIL (Basic Chemicals, Cosmetics and Dyes Export Promotion Council) said that under the trade agreement, more than 1,000 tariff lines (or product categories) from the chemicals sectors are granted zero-duty access to the UK market. This includes key product categories such as organic chemicals, agrochemicals, cosmetics toiletries, essential oil, speciality chemicals, and petrochemicals, CHEMEXCIL Chairman Satish Wagh said. With a 12.4 per cent contribution to the total trade agreement tariff lines, the chemical sector is among the largest beneficiaries of this agreement, strengthening its position in trade policy and classification, he said. India's current chemical exports to the UK stand at USD 570.32 million, ...
President Donald Trump is granting two years of regulatory relief to coal-fired power plants, chemical manufacturers and other polluting industries as he seeks to reverse Biden-era regulations he considers overly burdensome. Trump issued a series of proclamations late Thursday exempting a range of industries that he calls vital to national security. The proclamations cover coal-fired power plants, taconite iron ore processing facilities used to make steel, and chemical manufacturers that help produce semiconductors and medical device sterilisers. The proclamations allow the facilities to comply with Environmental Protection Agency standards that were in place before rules imposed in recent years by President Joe Biden's administration, the White House said. Trump called the Biden-era rules expensive and, in some cases, unattainable. His actions will ensure that "critical industries can continue to operate uninterrupted to support national security without incurring substantial cost
Chemical company GHCL Ltd on Friday posted a 68 per cent rise in net profit to Rs 168 crore in the December quarter mainly due to lower operating expenses. The company's operating expenses came down to Rs 548 crore during the quarter compared to Rs 648 crore in the same period a year ago, the company said in a statement. The profit after tax (PAT) grew 68 per cent to Rs 168 crore in the October-December period as against Rs 100 crore in the year-ago period, it stated. The company's net revenue was Rs 807 crores, down from Rs 813 crores a year ago, it stated. The EBIDTA grew 57 per cent to Rs 259 crore as compared to Rs 165 crore a year earlier. GHCL Managing Director R S Jalan said in the statement, "We have reported a robust financial performance for the quarter ended December 31, 2024 on the back of continued focus upon our core area of operations." GHCL Ltd is engaged in the manufacture of soda ash (anhydrous sodium carbonate), a major raw material for detergents & glass ...
A fire broke out following an explosion at a chemical plant in the Badalpur area of Greater Noida early Sunday morning, officials said, adding around two dozen fire tenders were pressed into service. The fire at the Shri Banke Bihari Chemical Plant on Dujana Road was put out after more than seven hours of intense fire fighting, the officials said, adding no one was injured but the factory has suffered massive damages. It was not immediately clear what caused the fire. Chief Fire Officer (CFO) Pradeep Kumar said the blaze broke out around 3 am and the factory workers tried to douse it using the equipment they had at their disposal, but it could not be contained. The workers evacuated the premises and the fire department was informed. A thick column of black smoke, visible from a distance, billowed into the sky from from the factory. Locals said the fire started following an explosion at the chemical plant. Deputy Commissioner of Police Shakti Mohan Awasthi, said, "We received ...
India has initiated a countervailing duty probe into increased imports of a chemical - Calcium Carbonate Filler Masterbatch - used in the plastic industry, from Vietnam following a complaint from domestic players. The move is aimed at guarding domestic manufacturers from the increase in imports that are subsidised by Vietnam. The investigation has been initiated by the Directorate General of Trade Remedies (DGTR), an arm of the commerce ministry. Compounds and Masterbatch Manufacturers Association of India and Masterbatch Manufacturers Association have filed a petition before the directorate on behalf of the domestic industry for initiation of the probe on the chemical exported from Vietnam into India. The DGTR in a notification has said that the applicants have alleged that the product is being imported into India from Vietnam at subsidized prices in significant quantities for a prolonged period, causing material injury to it. They have requested for imposition of countervailing
Four workers died after inhaling toxic fumes following a gas leak at a chemical plant at Dahej in Gujarat's Bharuch district, police said on Sunday. The company said all four were given immediate medical care but could not be saved. It has announced Rs 30 lakh ex gratia to the kin of each victim. A company employee and three contractual workers fell unconscious after poisonous fumes leaked from a pipe at a production unit of the Gujarat Fluorochemicals Limited (GFL) on Saturday night, Dahej police station inspector BM Patidar said. They were rushed to a private hospital where all four of them died, he said. The bodies were sent for postmortem and further probe into the incident was underway, the official said. The deceased have been identified as Rajesh Kumar Maganadiya (48), (hailing from Bharuch), Mudrika Yadav (29) (from Adhaura in Jharkhand), Suchit Prasad (39) and Mahesh Nandlal (25) (both from Sonbhadra in Uttar Pradesh), police said. In a media statement, GFL said the inci
Indian Rare Earth Limited (IREL) has signed an agreement with a Kazakhstan-based company to develop the titanium value chain in India by harnessing the potential of rare-earth minerals in the coastal parts of the country. The joint venture between IREL (India) Limited and Ust-Kamenogorsk Titanium and Magnesium Plant JSC (UKTMP JSC) proposes to convert low titanium oxide (TiO2) ilmenite produced in Odisha to titanium slag, which is in great demand in the aerospace and defence sectors. "The setting up of this JV plant is expected to catalyse the establishment of chloride pigment/Ti Slag/sponge manufacturing industry, which has been hindered by non-availability of high TiO2 feedstock," Minister of State in the Prime Minister's Office (PMO) Jitendra Singh told the Rajya Sabha in a written reply to a question. Titanium is highly corrosion-resistant and remains unaffected by most acids, bases, environmental conditions, and has a low density paired with high strength. These qualities make
Tata Chemicals on Tuesday said its wholly-owned subsidiary Tata Chemicals Europe (TCEL) is planning an investment of 60 million Euro (Rs 655 crore) to build a 1,80,000 tonnes per annum pharmaceutical grade sodium bicarbonate plant in Northwich in the UK. This new plant will triple TCEL's production capacity of pharmaceutical grade sodium bicarbonate in the UK, Tata Chemicals aid in a regulatory filing. The construction of the plant is expected to commence in 2025, with first production likely to begin in 2027. The new plant, using a patented process, will use carbon dioxide captured from energy generation emissions as a key raw material and will meet growing demand for high grade sodium bicarbonate from pharmaceutical manufacturers for use in medicines and hemodialysis. Further, Tata Chemicals said that as part of the restructuring operations to facilitate this investment, the Board of TCEL has approved the proposal to cease chemical production at its loss-making Lostock plant by t