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Shares of Vipul Organics Ltd rose 5 per cent to hit the upper circuit on Tuesday after securing its first commercial order for a newly developed organic intermediate, intended for use in the automobile industry.
The specialty chemicals firm's stock rose as much as 5 per cent during the day to an upper circuit of ₹188.25 per share. This compares to a 0.27 per cent decline in BSE Sensex as of 12:25 PM.
The stock currently trades at the highest level since January 27 this year, but has fallen over 1.6 per cent from its March lows. The counter has fallen 1.61 per cent this year, compared to a 4.4 per cent fall in the benchmark Sensex. Vipul Organics has a total market of ₹334.04 crore, according to BSE data. Track LIVE Stock Market Updates Here
Vipul Organics forays into new segment
The company has received final approval and its first commercial order for a newly developed organic intermediate, marking a strategic foray into a new product category and industry vertical, according to an exchange filing on Tuesday.
The product, developed in-house by Vipul Organics' R&D team over the past three years, will be used in manufacturing automotive components such as shock absorbers and bumper extensions. According to the company, the compound enhances durability, impact resistance, and wear tolerance of the parts it is applied.
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The approval follows an extensive 18-month qualification process and a successful trial export shipment. Order fulfilment will take place in line with the customer’s schedule, the company said in the statement.
"This is a landmark moment for Vipul Organics," said Vipul P. Shah, managing director. "This development not only adds a high-value product to our portfolio but also marks our entry into a completely new industry segment beyond dyes and pigments."
About Vipul Organics
Vipul Organics is a specialty chemicals company in the pigments and dyes segment. The company is one of the foremost manufacturers of pigments, dyestuffs, lake colours, and pigment intermediaries/fast salts in the country. It has three manufacturing facilities across Maharashtra and a global footprint in over 50 countries.
In the December 2024 quarter (Q3 FY25), Vipul Organics reported a total revenue of 41.54 crore and a net profit of ₹1.45 crore. In the FY24, the company’s total revenue stood at ₹150.99 crore and net profit was at ₹3.34 crore.
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