Speciality Chemical Companies in India:- “India is one of the largest producers of Speciality chemicals in the world, and the chemical industry plays a crucial role in the country’s economic growth.
In recent years, there has been a surge in demand for specialty chemicals, which are used in various industries such as pharmaceuticals, agrochemicals, and personal care products. As a result, many companies have emerged as key players in this sector.
In this blog post, we will take a closer look at the top 10 specialty chemical companies in India and their stocks, providing insights into their performance and potential for investment.”
Top 10 Speciality Chemical Companies In India
1. Srf Ltd
SRF Limited is India’s leading speciality chemical company. The company engages in the production of industrial and speciality intermediaries, serving various industries.
The company got incorporated in 1970 as Shri Ram Fibres Limited, a subsidiary of DCM Limited. At starting the company focused on the production of tyre cord fabrics. The company’s first manufacturing plant was established in 1973 in Manali, near Chennai.
Over the years, SRF Limited expanded its business into different sectors. It formed a joint venture with Denso in 1986 called SRF Nippondenso. A separate company was formed out of the joint venture in 1993.
In 1989, SRF Limited entered the Chemicals Business by manufacturing refrigerants. In 1990, the company changed its name to SRF Limited to reflect its diversified business operations.
The Packaging Films Business was established in 1995 when SRF Limited acquired a BOPET film plant in Kashipur, India. Since then, the company has expanded globally and become a prominent manufacturer of both BOPET and BOPP films.
With expertise in fluorine-based products since the 1980s, SRF Limited ventured into the Specialty Chemicals Business in 2004. Specializing in custom synthesis, contract research, and manufacturing, the company supplies fine chemicals to the agrochemical and pharmaceutical industries.
SRF Limited has a significant presence both in India and abroad, with manufacturing plants in multiple locations. The company employs more than 7,000 individuals across its operations and exports its products to over 90 countries.
For its success and impact on business, SRF Limited was included in the Forbes magazine’s 2011 Asia’s Best Under a Billion list.
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| Year | 2023 |
| Market Cap | 748.92 Billion |
| Revenue | 148.70 Billion |
| Earnings | 21.62 Billion |
| P/E ratio | 34.51 |
| P/S ratio | 5.02 |
2. Deepak Nitrite
Deepak Nitrite Limited, founded in 1970, is one of India’s top Fine and Specialty Chemicals (FSC) companies. The company also manufactures Bulk Chemicals and Commodities (BCC), and Fluorescent Whitening Agents (FWA).
Deepak Nitrite got listed on BSE following the year of incorporation in 1971. The head office of the company is in Vadodara, Gujarat, and has established itself as a prominent player in the chemical industry.
Deepak Nitrite has manufacturing facilities located in Gujarat (Nandesari and Dahej), Maharashtra (Roha and Taloja), and Telangana (Hyderabad). The company manufactures intermediates for various applications, such as industrial explosives, paints, cosmetics, optical brighteners, and polymers.
The company serves over 1,000 customers across 45 nations globally. The company’s total workforce at the end of FY22 is 2,006 employees. Deepak Nitrite holds over 70% of the Indian market share for essential inorganic compounds, including sodium nitrite, sodium nitrate, and nitrotoluenes.
Deepak Nitrite has earned a place among the Fortune Next 500 companies. The company has been considered identified as the top 25 wealth creators in India by Fortune Magazine. Deepak Nitrite is among the exclusive 40 Indian companies that have been granted the Responsible Care logo. This emblem is awarded to industry leaders who prioritize sustainable growth.
| Year | 2022 |
| Market Cap | $3.48 Billion |
| Revenue | $0.98 B |
| Earnings | $0.15 B |
| P/E ratio | 31.9 |
| P/S ratio | 3.54 |
3. Atul Ltd.
Atul Ltd. is a pioneer in the Indian Speciality Chemical Companies. Founded in 1947, just after India’s independence, it was the first private sector company to be inaugurated by India’s first Prime Minister. Today, it is a part of the Lalbhai Group with headquarters in Gujarat. As an integrated chemical company, the company caters to around 4,000 customers from about 30 industries globally.
Atul Ltd’s product portfolio has crop protection products, agrochemicals, speciality chemicals, pharmaceuticals, and engineering products. It holds an ISO 14001 certification, which makes it one of the few companies with such a certification.
Atul Ltd is a pioneer to begin manufacturing dyes (including Vat dyes), para Cresol and Phosgene in India. As of March 31, 2022, the company revenue is Rs. 5,083 crore (US$ 683 million). The total workforce of Atul Ltd as of March 31, 2022, is 3,089 people. It has a strong global presence with presence in over 90 countries. The company is listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) stock exchanges.
| Year | 2023 |
| Market Cap | $2.41 Billion |
| Revenue | $0.66 B |
| Earnings | $85.89 M |
| P/E ratio | 33.1 |
| P/S ratio | 3.61 |
4. Pidilite Industries
Pidilite Industries Limited is one more name added to the list of Top Speciality Chemical Companies in India. The head office of the company is in Andheri, Mumbai. It is known for being the dominant and leading adhesives company in India. In addition to adhesives, Pidilite also manufactures various other products in different sectors.
Pidilite’s product portfolio includes art materials, food and fabric care products, stationery, car products, adhesives, and sealants. In Speciality industrial products Category the company has pigments, leather chemicals, textile resins, and synthetic chemicals.
The company has several well-known brands, Like Fevicol, FeviKwik, Dr Fixit, and many more. Pidilite is also responsible for marketing and manufacturing WD-40 in India.
Pidilite Industries Limited operates manufacturing facilities across multiple regions in India, encompassing Mahad in Maharashtra, Vapi in Gujarat, as well as Baddi and Kala Amb in Himachal Pradesh.
In 2022, Pidilite Industries entered into a partnership with 100x.VC, which is an Indian venture capital firm. This partnership aims to support and nurture startups in the adhesives and construction chemicals space, allowing Pidilite to explore new avenues and expand its presence in the industry.
| Year | 2023 |
| Market Cap | 16.17 Billion |
| Revenue | $1.45 Billion |
| Earnings | $0.21 Billion |
| P/E ratio | 94.9 |
| P/S ratio | 11.2 |
5. Aarti Industries Ltd
India is home to some of the leading specialty chemical companies in the world. One such company is Aarti Industries Ltd. (AIL), a prominent manufacturer of basic chemicals, agrochemicals, speciality chemicals, and pharmaceuticals. The company was founded in 1984. The company’s headquarters is in Mumbai, India & Franchises in U.S.A & Europe.
With over 400+ global and 700+ domestic customers, Aarti Industries has earned a reputation for providing quality chemical products and services. The company has a strong presence in both domestic and international markets. It serves a global customer base, exporting its products to over 60 countries.
The company’s manufacturing facilities are in Gujarat and Maharashtra, equipped with advanced technology and infrastructure to ensure efficient production and quality control.
The company has been listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) in India. AIL has also made recent developments in the field of green chemistry and has been recognized for its sustainable practices.
| Year | 2023 |
| Market Cap | $2.28 Billion |
| Revenue | $0.94 B |
| Earnings | $83.81 Million |
| P/E ratio | 15.1 |
| P/S ratio | 2.43 |
6. Meghmani Organics Ltd.
The next name registered to the list of top specialty chemical companies in India is Meghmani Organics Ltd. The company is a well-known name in the global markets in the chemical industry. The company was started in 1986. The head office of the company is in Ahmedabad, Gujarat.
Meghmani Organics primarily focuses on the manufacturing and marketing of pigments, agrochemicals, and intermediates. The company’s products are used in a variety of applications which include paints, inks, plastics, nylon, paper, and other synthetic fibers.
The company is the largest manufacturer of Phthalocyanine Pigments globally. Apart from this, Meghmani Organics Ltd. also has 650+ CIB & export registrations for agro-business in 75+ countries, creating a wide global distribution network. Furthermore, the company manufactures and markets 36+ brands of various pesticide formulations across India.
| Year | 2023 |
| Market Cap | 2,081 Crore |
| Revenue | 574.08 Crore |
| Earnings | 54.15 Crore |
| P/E ratio | 9.85 |
| P/S ratio | 1.26 |
7. Himadri Speciality Chemical
Himadri Speciality Chemical is one more added to the list top speciality chemical companies in India. Incorporated in 1987, the company specializes in the production of coal tar by-products and their derivatives. The headquarters of the company is in Kolkata, India.
The company manufactures various products such as coal tar pitch (CTP), creosote oils, naphthalene, carbon black, advanced carbon materials, and SNF (sodium naphthalene formaldehyde).
Coal tar pitch (CTP) is a key product manufactured by HCIL. It is widely used in industries such as aluminum, steel, graphite, and carbon electrodes. CTP is a crucial raw material for the production of graphite electrodes used in electric arc furnaces in the steel industry.
The company’s product range also includes carbon black, which is utilized in the rubber industry for manufacturing tires, conveyor belts, and other rubber products. Furthermore, HCIL produces SNF (sodium naphthalene formaldehyde), which is a superplasticizer used in the construction industry as a concrete admixture to improve its workability and strength.
| Year | 2023 |
| Market Cap | 55.44 billion |
| Revenue | 1.03TCr |
| Earnings | 76.26Cr |
| P/E ratio | 19.3 |
| P/S ratio | 1.81 |
8. Laxmi Organic Industries
One more famous name in specialty chemical manufacturers is Laxmi Organics. The company was incorporated on May 15, 1989. The corporate office of the company is located in Mumbai, India.
The company primarily operates in two key business segments: Acetyl Intermediates and Specialty Intermediates.
In the Acetyl Intermediates segment, the company focuses on the manufacturing of ethyl acetate, acetaldehyde, and other related products. These chemicals find applications in various industries, including pharmaceuticals, agrochemicals, coatings, and textiles.
In the Specialty Intermediates segment, Laxmi Organic Industries specializes in the production of a range of chemical intermediates. These intermediates serve as building blocks for the synthesis of various specialty chemicals used in diverse sectors such as pharmaceuticals, agrochemicals, dyes, and pigments.
| Year | 2023 |
| Market Cap | 68.73 Billion |
| Revenue | 27.97 Billion |
| Earnings | 1.25 Billion |
| P/E ratio | 55.42 |
| P/S ratio | 2.27 |
9. Chemplast Sanmar
Chemplast Sanmar Limited is one of the top speciality chemical companies in India. The company produces PVC resins, fluorochemicals, and piping systems. The company was established in 1962 and became a pioneer in introducing PVC pipes to India.
One of the significant milestones in the company’s history occurred in 1967 when it commissioned a PVC plant in Mettur, Tamil Nadu, with a capacity of 6,000 tons per annum (TPA). This project was undertaken in collaboration with BF Goodrich, a renowned American chemical company. It was during this time that Chemplast Sanmar Limited also began its production of PVC pipes. The company played a pioneering role in introducing PVC pipes to the Indian market.
Another significant development in Chemplast Sanmar’s history was the commissioning of the Cuddalore PVC project in September 2009. This project marked an expansion of the company’s PVC manufacturing capabilities and further solidified its position in the industry.
| Year | 2023 |
| Market Cap | 6,941.80 Crores |
| Revenue | 427.72 Crores |
| Earnings | $85.89 M |
| P/E ratio | 45.56 |
| P/S ratio | 3.77 |
10. Alkyl Amines Chemicals Ltd.
Founded in 1979, Alkyl Amines Chemicals Ltd. (AACL) has grown into a global Chemical supplier. The company is specialized in the production of speciality amines, aliphatic amines, and amine derivatives. Aliphatic amines are compounds that originate from ammonia (NH3) by replacing one or more hydrogen atoms (H) with alkyl groups like methyl, ethyl, or propyl.
These amines have crucial roles in various industries due to their adaptable properties and use. They act as intermediates in the production of pharmaceuticals, agrochemicals, rubber chemicals, water treatment chemicals, and other speciality compounds.
AACL serves various industries such as pharmaceuticals, rubber chemicals, agrochemicals, water treatment, and more. The company’s success is rooted in its committed research and development team. AACL’s technology center is located in Hadapsar, Pune, and employs research scientists and engineers.
| Year | 2023 |
| Market Cap | 126.47B INR |
| Revenue | 16.82 Billion |
| Earnings | 2.29 Billion |
| P/E ratio | 55.39 |
| P/S ratio | 44.68 |
Conclusion
“In conclusion, the specialty chemical industry in India is witnessing significant growth, and the top 10 companies listed above have established themselves as key players in this sector.
With their diverse product portfolios, strong R&D capabilities, and focus on sustainability, these companies are well-positioned to capitalize on the increasing demand for specialty chemicals.
Investors looking to invest in this sector should consider these companies based on their financial performance, market position, and growth potential. As always, it’s important to conduct thorough research and seek professional advice before making any investment decisions.”