Deepak Fertilisers and Petrochemicals Corporation (DFPCL) announced its foray into alcohol-based hand sanitizer segment to combat COVID-19 pandemic.
The announcement was made before market hours today, 25 May 2020. Stock markets are shut today on account of Id-Ul-Fitr (Ramzan Id).
Shares of Deepak Fertilisers And Petrochemicals Corporation fell 0.35% to close at Rs 99.55 on 22 May 2020.
DFPCL has launched IPA based hand sanitizers under the brand name 'CORORID', which conforms to WHO's recommended formulation. In order to prioritise domestic requirements over exports and also to ensure availability of high quality hygiene products to the end consumer, DFPCL is gradually shifting its focus from a key raw material supplier of IPA for hand sanitizers market to the final hand sanitizer product producer. Isopropyl Alcohol (IPA) is the world's most preferred active ingredient in hand sanitizer and rubbing alcohol.
The company has received due approvals from Maharashtra FDA on its own formulation. Product is available in 500ML, 1L, 5L, 10L, 20L, 25L, 200L and Tanker load. 'Cororid' has an effective anti-bacterial, anti-fungal and anti-viral agent with proven disinfectant properties which does not dehydrate and is soft on the skin.
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DFPCL is India's leading producer of merchant Isopropyl Alcohol (IPA), with approx. 75% market share, with an installed capacity of 70,000 MTPA. The company supplies IPA to pharma / industrial customers and other sanitizer manufacturers in India.
Commenting on this development, Sailesh C. Mehta, Chairman & Managing Director, DFPCL said that India is witnessing unprecedented surge in demand for disinfecting agents due to COVID-19 pandemic situation. The Central government has also included sanitizers under essential commodities list to ensure steady and sufficient availability.
Set up in 1979 as an ammonia manufacturer, DFPCL today, is a publicly listed, multi-product Indian conglomerate, with a portfolio spanning industrial chemicals, bulk and specialty fertilisers, technical ammonium nitrate and value added real estate.
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