The net proceeds from the public offer will be used for long term working capital requirements and general corporate purposes.
The company is primarily engaged in the business of importing and distribution of hydrocarbon-based chemicals of the product family viz. Acetyls, Alcohol, Aromatics, Nitriles, Monomers, Glycols Phenolic, Ketones, and Isocyanates, which are critical raw materials and inputs and have application across a wide spectrum of industries.
In the petrochemical industry, there is a wide array of base chemicals that serve as the foundation for various derivative chemicals. These chemicals serve as secondary and tertiary chemicals for application in various industries.
Its business focuses on the import and redistribution of these secondary and tertiary chemicals, which are essential raw materials for multiple industries. The company manages the supply chain of these secondary and tertiary chemicals derived from base chemicals.
For example, benzene serves as a fundamental building block for producing essential secondary and tertiary chemicals such as phenol, styrene and aniline. These secondary and tertiary chemicals are indispensable base raw material inputs in various industries including paints, coatings, printing inks, agrochemicals, pharmaceuticals, specialty polymers, and industrial chemicals.The company’s role involves sourcing these chemicals from international producers and suppliers, redistributing them to domestic industries, and ensuring sufficient and timely supply to manufacturers.India has been one of the largest consumers of chemicals & petrochemical products in the Asia Pacific region for the bulk of the last 10 β 15 years. The rapid growth in Indiaβs manufacturing infrastructure during this time period have created strong demand for a wide range of chemical & petrochemical input materials and intermediates
For the year ended March 2024, the company clocked total revenues of Rs 1536 crore and net profit of Rs 30.11 crore.
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