Vinati Organics Ltd

Vinati Organics Ltd

Vinati Organics Limited (VOL) is a leading manufacturer of specialty chemicals and organic intermediaries and monomers with a increasing market presence spanning across 35 countries in the world. With more than three decades of experience in the industry the Company has evolved from being a single product manufacturer to an integrated player offering solutions to some of the largest industrial and chemical companies across US Europe and Asia. With two state-of-the-art manufacturing units in Maharashtra the Company is the world's largest manufacturer of Isobutyl Benzene (IBB) and 2-Acrylamido 2 Methylpropane Sulfonic Acid (ATBS) and India's largest manufacturer IsoButylene (IB) and Butyl Phenols the prime raw material for the manufacture of ibuprofen a vital bulk drug.Incorporated in Jun.'89 Vinati Organics Ltd is promoted by Maharashtra Petrochemicals Corporation (MPCL) and Vinati Enterprises a partnership firm where Vinod Saraf was the principal partner. The Company is is engaged in manufacturing of speciality organic intermediates and monomers and polymers. Its manufacturing facilities are located at Mahad and Lote Parashuram Maharashtra. Vinati Organics came out with a public issue in Nov.'91 to set up a plant to manufacture 1200 tpa of iso butyl benzene in Mahad (Raigad district) Maharashtra. Commercial production commenced in Jul.'92. The company has a technical collaboration with Institut Francais du Petrole (IFP) France one of the largest licensors in the field of petroleum refining and petrochemical processes and catalysts. IFP has provided technical assistance to reputed petrochemical units like Indian Petrochemical Corporation and Indian Institute of Petroleum.The company has spent Rs.27.95 lacs for pilot plant of Benzaldehyde and Benzoic Acid.During the year 1999-2000 the Company acquired 22 acres of land costing Rs.150.30 lacs at Lote Khed District of Maharashtra for diversification plan to manufacture fine chemicals mainly Sodium Methallyl Sulfonate (SMAS) which is produced by few manufacturers in the world whereas no manufacturers in India and Acrylamido Methyl propane Sulfonic Acid (ATBS) is being produced by only two companies in the World.Vinati Organics is only the third company in the world to produce Acrylamido Methylpropane Sulfonic Acid and started commercial production in October 2002 with the installed capacity of 1000 MT. During FY 2014-15 the company launched Isobutyl Benzene (IBB) and Acrylamido -2 Methylpropane Sulfonic Acid (ATBS) and Isobutylene (IB) and High Purity Methyl Tertiary Butyl Ether (HPMTBE) products. The company's HPMTBE is a clear colorless liquid with a 99.90% purity level. It has competitive advantage of being strong solvating power and has applications in pharmaceutical industry and in organic metallic compounds.During FY 2015-16 the Company has started diversifying its product portfolio by adding products like HPMTBE; couple of customized products and IB based derivatives like TB Amine PTBBA. The company's N-Tertiary Octyl Acrylamide (TOA) is used in personal care products like hair gel and creams adhesives and enhanced oil recovery.During FY17 the company has repaid in full it's long term debt and also completed the planned capex of Rs 200 crore which was entirely funded through internal accruals.The company is undertaking capital expenditure of around Rs.300 crore towards a. Butyl Phenols (Isobutylene Based Downstream Products): Work related to Butyl Phenol Project is in full swing at Lote site b. The debottlenecking of ATBS capacity from 26000 TPA to 30000 TPA expected to be ready by 01 September 2018. The company aims to increase ATBS capacity from 26000 tonnes per annum to 40000 tonnes per annum resulting in a capex of Rs 110 crore. It is expected to be operational by Q2FY20. Further the Butyl Phenols project is expected to commission by Q2FY20. With both these projects coming on stream in FY20 the company is aiming for doubling our revenues over the next three years. The company was declared STAR SME of the Year by the Business Standard Annual Awards 2019. VOL adjudged Company of the Year in Chemicals by FICCI Chemicals and Petrochemicals Awards 2019. The Members had passed Resolution approving Sub-division of one Equity Share of face value of Rs 2/- each into two Equity Shares of face value of Re 1/- each through Postal Ballot dated 25 December 2019. The record date for the aforesaid subdivision was 06 February 2020. Accordingly the face value of equity shares of the Company stands reduced to Re 1/- per share.During the FY2020 the company was named the Most Promising Company of the Year by CNBC-TV18 IBLA 2020. Apart from the capex of Rs. 150 crores for manufacturing 4 new specialty Chemicals and for expanding the present capacity of the PTBBA plant the Board has approved in the second quarter of FY2021an additional capex of Rs.60 Crore for new products and expansion. Expected revenue from the total capex is approximately 300 Crore.The company has subscribed to the Memorandum and Articles of Association of Veeral Organics Pvt. Ltd a subsidiary company on 05 October 2020. The Board of Directors of the company have approved a scheme of amalgamation of Veeral Additives Private Limited into Vinati Organics Limited in their meeting held on 02 February 2021. The scheme provides 01 April 2021 as appointed date.During FY'20-21 Veeral Organics Pvt. Ltd. has been incorporated as 100% subsidiary of Vinati Organics Limited on October 5 2020.During the year 2021-22 the Company commissioned 14MW solar power plant. It installed Solar Power of 45 KW in its Staff Colony at Lote- Parashuram. Similarly Solar Power Plant of 6.5 MW at Solapur was also commissioned.During the year 2022-23 the Company commissioned two solar power plants 7 MW at Solapur Karajagi and 7.5 MW at Osmanabad Tuljapur both in Maharashtra.