The company plans to fund its expansion through internal accruals and loans.
Under backward integration, the company is planning to produce basic raw materials for the manufacturing activity. Under forward integration, it plans to expand its existing manufacturing capacity.
Under the first phase, 12,000 mtpa of dyestuff capacity and 3,600 mtpa of beta naphthol in the second phase will be added. In the third phase, 1,45,000 mtpa manufacturing capacity for sulphuric acid and derivatives will be added.
"After the completion of the backward integration process, the company will become the first in the country to have a complete chain of production facility from basic raw materials to dyestuffs," he said.
The company is open to grow inorganically and has started the amalgamation process of Milestone Organic, near Vadodara. The entire process of amalgamation is expected to be completed by June. The company is already exporting to more than 25 countries.