Chemical Industry

The profit fell to Rs 104 crore ($11.95 million) for the three months ended Dec. 31, 2024, from Rs 140 crore a year earlier

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 ...

The construction chemicals industry in India is valued at approximately Rs 20,000 crore. About half of this turnover is generated from construction projects

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 ...

Athos Chemicals and Raxuter Chemicals, both based in Gujarat, were each charged in Brooklyn with distributing the ingredients and conspiring to distribute them

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

Net profit fell to Rs 128 crore ($15.2 million) for the three months ended Sept. 30, from Rs 149 crore a year earlier

The export target of USD 31 billion for 2024-25 will be achieved, as there is a healthy demand for 'made in India' chemicals in countries like Brazil, the US, Japan and Saudi Arabia, CHEMEXCIL Director General Raghuveer Kini said. The Basic Chemicals, Cosmetics and Dyes Export Promotion Council (CHEMEXCIL) is set by the commerce ministry to promote exports of these goods. Kini said that the total exports of chemicals during April-September rose by 4.57 per cent to USD 14.1 billion. "So far, we are registering good growth, and we are confident of achieving the USD 31 billion target this fiscal. Last year, it was around USD 30 billion," he added. During the second half of this year, the exports will grow at a faster pace, he noted. "Last year, because of drought in Brazil, which is the key market for us, exports were down. But this year, the situation is good, and we expect high growth," Kini said. India exports these goods worth about USD one billion annually to the South American

Integrated chemical manufacturer Epigral Ltd on Saturday reported more than two-fold jump in profit to Rs 81 crore in the September quarter. The company had reported a net profit of Rs 38 crore in the year-ago period. Revenue for the previous quarter rose 32 per cent to Rs 632 from Rs 479 crore in the same period year earlier, Epigral said. The company said its sales volume grew 6 per cent year-on-year driven by derivatives and specialty business. The capacity utilisation during the quarter under review stood at 83 per cent year-on-year, the company said. Realisations dropped for all products -- except for chloromethanes -- in range of 1-7 per cent, it said. Chlorinated polyvinyl chloride resin capacity will be doubled to 1,50,000 tonnes per annum (TPA) while epichlorohydrin capacity will be enhanced to 1,00,000 TPA at the company's Dahej plant in Gujarat, it added.

Chemical firm SRF Ltd on Tuesday reported a 33 per cent decline in its consolidated net profit to Rs 201.42 crore for the second quarter of this fiscal on higher expenses and announced plans to invest Rs 1,100 crore on new plants to manufacture fourth-generation refrigerants. Its net profit stood at Rs 300.78 crore in the year-ago period. The total income rose to Rs 3,457.63 crore during the July-September period of this fiscal from Rs 3,206.48 crore in the year-ago period, the company said in a regulatory filing. The company's total expenses increased to Rs 3,173.97 crore in the second quarter from Rs 2,791.67 crore a year ago. SRF Chairman and Managing Director Ashish Bharat Ram said, While the performance this quarter has been expectedly subdued, I believe the worst is now behind us. We will start seeing an improvement from this quarter onwards with a likelihood of a strong finish to the year". SRF also informed that its Board of Directors approved "a project for setting up new

This is the third consecutive quarter the company has reported a decline in profits owing to weakness in its oil-to-chemicals (O2C) business. RIL's Q2 profits also missed street estimates

FTVC has developed a "MicroLab", an open-source controlled lab reactor (CLR) made from components easily available online

The situation is now under control with no injuries reported. An investigation is underway to see if any lapses in safety protocols resulted in the gas leak

JB Chemicals & Pharmaceuticals on Thursday said its net profit increased 25 per cent year-on-year to Rs 177 crore in the first quarter ended June 30, 2024. The drug firm had reported a net profit of Rs 142 crore in the April-June period last fiscal. Total income increased to Rs 1,010 crore in the June quarter from Rs 902 crore in the year-ago period, JB Pharma said in a regulatory filing. "Our overall performance in the first quarter has been robust. We have reached a new milestone of Rs 1,000 crore in quarterly sales for the first time during any quarter, with improvement across all parameters - revenue, gross profit, operating profit and operating profit margin," CEO and Wholetime Director Nikhil Chopra stated. Strong performance in the domestic business has continued, with each of the big brand franchises witnessing market-beating growth, he added. "We expect the international business including CDMO business to pick up in the second half of the financial year. The good start .

The chemicals industry has been grappling with high inventory and destocking for the past few quarters, leading to continuous pressure on volume and margins, according to analysts

The decline in stock price occurred following the announcement that BASF SE, the parent company, would sell its flocculants business for mining applications to Solenis

AWL expects to close the deal in three to four months and it doesn't need government or regulatory approvals, it said in its filing