Page 3 - Chemical Sector

Derive Trading buys 3.5% stake in Bhagiradha Chem; stock up 41% in 2 days

On June 5, 2024, Derive Trading and Resorts Private Limited bought 4.31 million equity shares representing nearly 3.5 per cent of total equity of Bhagiradha Chemicals & Industries for Rs 81.17 crore.

Bayer CropScience stock declines 6% on Friday post Q4; Check details here

Bayer CropScience's revenue slipped 19.5 per cent on a year-on-year (Y-o-Y) basis to Rs 792 crore as opposed to Rs 983 crore in the same quarter a year ago

Anupam Rasayan Q4 results: Net profit declines 44% to Rs 40.46 crore

Chemicals maker Anupam Rasayan India Ltd on Saturday posted a 44.26 per cent fall in its consolidated net profit to Rs 40.46 crore for the fourth quarter of 2023-24 on poor sales. Its net profit stood at Rs 72.63 crore a year earlier. The total income fell to Rs 413 crore in the January-March quarter of 2023-24 compared to Rs 504.2 crore in the year-ago period, a regulatory filing said. For the full fiscal 2023-24, Anupam Rasayan posted a 23 per cent drop in consolidated net profit to Rs 167.4 crore against Rs 216.8 crore in the previous fiscal. The total income declined to Rs 1,505.3 crore from Rs 1,610.4 crore in the said period. Anupam Rasayan Managing Director Anand Desai said the chemical industry, including speciality chemicals, has faced significant headwinds during the last year. However, despite the de-growth in the top line, the company has been able to sustain its profitability and maintain margins at 27 per cent levels on a full-year consolidated basis. "We believe th

Sequential recovery to neutralise chemical companies' sales slump

Alchemy of revival: Early recovery catalysts blend with stable prices and eased supplier tensions

TCG plans $10 billion oil-to-chemicals project in Tamil Nadu

TCG's investment plans comes amid strong growth for chemicals in India to drive a 7% growth, but also at a time of oversupply in the global petrochemicals business

Recovery in exports amid rising chemical prices to drive SRF stock

The demand-supply imbalance and margin pressures would be a key monitorable in the near to medium-term

JG Chemicals IPO over-subscribed on day 1: Analysts upbeat on its prospects

The company is the country's largest zinc oxide producer and among the top ten globally, as per CARE Analytics. Its domestic market share in the key product was around 30 per cent as on March 2022

Recovery in chemicals may be delayed until FY25, more downgrades ahead

Specialty chemical majors, after experiencing a 17% Y-o-Y fall in revenues in the September quarter, are projected to report an 18% decline in the top line for the December quarter

Godrej Industries' chemicals division plans Rs 600 cr investment in Gujarat

Godrej Industries Ltd on Friday said its chemicals division plans to invest Rs 600 crore over the next four years in the expansion of its unit at Valia in Gujarat. In a regulatory filing, the company said Godrej Industries Ltd (Chemicals Division) has signed a non-binding Memorandum of Understanding (MoU) with the Gujarat government for the purpose. "As part of the MoU, the company may plan to invest Rs 600 crore over the next four years on the significant expansion in Valia with employment of around 250 (people)," it said. The MoU paves the way for expansion at Valia where Godrej Industries already has a manufacturing facility. The unit located in the Bharuch district of the state produces a wide range of oleochemical products derived from organic material catering to various market segments, including personal care, pharmaceutical and food industries, the company said. "This strategic collaboration underscores our commitment to growth, innovation, and contributing to the economic

'Govt to increase exports of 10-11 sectors from $160 bn to $500 bn by 2030'

The government is working on boosting domestic manufacturing and increasing exports to USD 500 billion by 2030 from 10-11 sectors, including automobiles, pharma, textiles, medical devices and chemicals, a senior official said on Thursday. These issues were discussed during a meeting called by the Commerce and Industry Ministry on Thursday. The meeting was convened by the Department of Promotion of Industry and Internal Trade (DPIIT) in collaboration with Invest India and SCALE (Steering Committee for Advancing Local Value-Add and Exports) Committee to unveil outcomes and recommendations made during the Chintan Shivir for Manufacturing, held on October 12 at Bharat Mandapam here. The 11 sectors are auto components, automobiles (including EVs), capital goods, chemicals, drones, medical devices, aerospace and defence, leather and footwear, textiles, and space. "We are looking at investments in these sectors. We will drill down to each of the areas to see how to promote manufacturing

PCBL Ltd receive CCI approval for Aquapharm Chemicals acquisition

Anti-trust regulator CCI has approved speciality chemicals major PCBL Ltd's proposed acquisition of a 100 per cent stake in Aquapharm Chemicals, according to a notice. The Competition Commission of India (CCI) has granted its approval to the deal under the green channel route. Under the green channel route, a transaction that does not raise any risk of an appreciable adverse effect on competition is deemed to be approved on being intimated to the fair-trade regulator. PCBL Ltd is engaged in the manufacturing and sale of carbon black, and green power generation. The transaction relates to PCBL's proposal to acquire 100 per cent equity share capital of Aquapharm Chemicals from the existing shareholders of the company i.e., (members of Desai Group and Mangwani Group), CCI said. After the completion of the transaction, Aquapharm Chemicals will be a wholly-owned subsidiary of PCBL Ltd. Aquapharm Chemicals Pvt Ltd (ACPL) is a Pune-based speciality chemicals company engaged in manufactu

Gradual recovery ahead for specialty chemicals sector: Brokerages

For the September quarter, the sector's operating and net profits dropped 18 per cent and 25 per cent over the year-ago quarter

PCBL plans to acquire 100% in Aquapharm Chemicals for Rs 3,800 cr

Carbon black and speciality chemicals major PCBL Ltd on Tuesday announced plans to acquire 100 per cent in Aquapharm Chemicals Pvt Ltd (ACPL) for an aggregate consideration of Rs 3,800 crore. Subject to the agreed adjustment, the acquisition will be financed through a mix of internal accruals and external fundraising by the company and its associates, the company informed the bourses. This acquisition marks PCBL's foray into global speciality segments of water treatment chemicals and oil & gas chemicals, the company said. The transaction will be financed through a combination of internal accruals and external fund raise, it said. ACPL is a Pune-based globally top three leading specialty chemicals company, manufacturing and water treatment chemicals. The company has manufacturing facilities in India, the US, and Saudi Arabia. Overseas plants are being operated through subsidiaries. ACPL topline was Rs 2,045 crore and EBIDTA was Rs 417 crore in 2022-23. The transaction is subject t

Sadhana Nitro Chem Q2 profit at Rs 2.57 cr, revenue up 15% to Rs 42 cr

Chemical firm Sadhana Nitro Chem Ltd has posted a consolidated net profit of Rs 2.57 crore for the second quarter of this fiscal. It had posted a net loss of Rs 0.37 crore in the year-ago period. Total income rose 15 per cent to Rs 42.01 crore in July-September period of this fiscal, from Rs 36.53 crore in the corresponding period of the previous year, the company said in a statement. "This growth can be primarily attributed to the steady increase in global demand for our products," the company said. Sadhana Nitro Chem Ltd manufactures intermediate specialty chemicals. It has a manufacturing facility in Roha, Maharashtra spread over 22 acres.

Chemical stocks may underperform; brokerages stay cautious on sector

Expectations of weak September quarter results amid high inventory, demand woes and weak realisations have led to the underperformance

Govt considering PLI for chemical, petrochemicals sector: FM Sitharaman

Wants India to become manufacturing hub of sector, she says

Demand woes, lower realisations to hit specialty chemical makers in FY24

Sector is expected to underperform as brokerages cut profit estimates

PCBL surges 7% on commencement of phase 1 specialty chemical capacity

The stock has hit a 52-week high at Rs 174.55 in intra-day trades so far on Tuesday.

Aether Inds soars 10% on inking pact with US-based Oil Field Services firm

The company executed Letter of Intent (LoI) with USA based leading global Oil Field Services Company for strategic supplier and contract manufacturing partnership.

Crisil SME Tracker: Lean inventory will shore up chemicals units' profits

Revenue growth for some specialty chemicals sub-segments is expected to moderate, in line with the correction in feedstock prices