A-1 Limited (formerly **A-1 Acid Limited**) is a diversified Indian industrial leader with a **50-year legacy**. Historically a dominant force in the wholesale trading of industrial acids and chemicals, the company is currently undergoing a strategic transformation into a multi-vertical green enterprise. By leveraging its extensive logistics infrastructure and deep-rooted supplier relationships, A-1 Limited is aggressively expanding into **Electric Vehicle (EV) manufacturing**, **Industrial Urea**, and **Pharmaceuticals**, positioning itself as a future-ready **ESG leader** by **2028**. --- ### **Industrial Chemical Distribution & Logistics Backbone** A-1 Limited serves as a critical link in the industrial chemical value chain, acting as a primary distribution and marketing partner for India’s largest chemical manufacturers. * **Core Trading Operations:** The company sources, markets, and distributes a wide array of acids and chemicals to national-level industrial groups across the pharmaceutical, textile, steel, and fertilizer sectors. * **Key Supply Partners:** Maintains long-standing relationships with industry giants including **GNFC, GSFC, Hindalco Industries, Nirma Ltd, SRF Ltd, KIRI Industries, GACL, and Grasim Industries**. * **Strategic Supply Arrangement (Nov 2025 – Mar 2026):** * **Product:** Concentrated Nitric Acid. * **Quantity:** **10,000 Metric Tonnes**. * **Value Chain:** Sourced from **GNFC** for supply to **Solar Industries India Limited & Group**. * **Logistics Infrastructure:** The company operates a vertically integrated model with a fleet of **71 vehicles/tankers**. * **Debt-Free Target:** As of April 2026, over **90%** of the fleet is debt-free, with a target to reach **100% debt-free status by October 2026**. * **Expansion:** Recently added **10 multi-axle vehicles** to reduce third-party dependency and capture higher logistics margins. #### **Comprehensive Product Portfolio** | Product | Key Variants | Primary Applications | | :--- | :--- | :--- | | **Nitric Acid (HNO3)** | **18-98%** (incl. Fuming) | Explosives (**T.N.T.**), fertilizers, rocket propellants. | | **Sulphuric Acid** | Concentrated/Dilute | Wastewater processing, detergents, chemotherapy drugs. | | **Hydrochloric Acid** | **HCl** | PVC production, water treatment (**PAC**), oil well acidizing. | | **Methanol** | Polar liquid solvent | Antifreeze, fuel, acetic acid production. | | **Formic Acid** | Preservative | Rubber latex processing, leather tanning, livestock feed. | | **Industrial Urea** | **Automobile Grade** | Secured a major **25,000 MT** order valued at **₹127.5 Crore**. | --- ### **Strategic Pivot: The "Yellow EV" Mobility Vertical** A-1 Limited has transitioned into a holding company for green energy through its subsidiary, **A-1 Sureja Industries** (increased stake from **45% to 51%** in October 2025). This makes it one of India’s first listed chemical companies with a direct stake in a certified EV manufacturer. * **Brand & Manufacturing:** Operates under the **"Yellow EV"** and **"Hurry-E"** brands. The manufacturing facility in **Bavla, Gujarat**, utilizes **99% indigenous components** and holds exclusive design patents until **2028**. * **Certification:** High-speed models are **ARAI-certified** (Automotive Research Association of India). * **Market Traction:** Secured purchase orders for **1,425 units** in January 2026 from Zipnova Enterprise LLP and Aayushman Engineering. * **Digital Ecosystem:** Launched the **"Yellow EV"** mobile app in February 2026 for digital onboarding and service coordination. #### **Hurry-E Electric Motorbike: Technical Specifications** * **Power:** **2 kW BLDC PMSM Hub Motor** (Peak **3.7 kW**); **IP67** rated. * **Battery:** **3.5 kWh LFP** (**73.6V 48 Ah**) with **Smart BMS**. * **Range:** **144 km** (Eco), **115 km** (City), **90 km** (Sports). * **Charging:** **4.5 hours** for a full charge. * **Warranty:** **3 Years / 60,000 km**. --- ### **Growth Roadmap & Future Targets** The company is diversifying its revenue streams to reduce reliance on cyclical chemical segments and attract institutional green funds. * **EV Revenue Target:** Aiming for **₹1,000 Crore** from the EV segment alone by **FY 2030**. * **Network Expansion:** Target to expand the dealer network to **100+ cities** by the end of **FY 2026**. * **Vertical Integration:** Plans to integrate **Battery Chemicals** manufacturing by **FY 2028**. * **Infrastructure:** Applied for a **20,000 Sq. Mtr.** industrial plot in **GIDC-Saykha** for capacity expansion. * **New Sectors:** Formal entry into **Pharmaceuticals** (contract manufacturing) and **Sports Equipment** marketing. --- ### **Financial Performance & Capital Restructuring** A-1 Limited has demonstrated explosive growth, with net profits more than tripling in the most recent full fiscal year. #### **Annual Financial Highlights** | Metric | FY 2024-25 | FY 2023-24 | Growth (%) | | :--- | :--- | :--- | :--- | | **Revenue from Operations** | **₹331.49 Crore** | **₹210.62 Crore** | **57.39%** | | **Net Profit (PAT)** | **₹3.64 Crore** | **₹1.09 Crore** | **233.94%** | | **Earnings Per Share (EPS)** | **₹3.17** | **₹0.95** | **233.68%** | #### **Corporate Actions & Liquidity** To improve market liquidity and reward long-term investors, the company executed the following in **Dec 2025/Jan 2026**: * **Bonus Issue:** **3:1 ratio** (3 bonus shares for every 1 held). * **Stock Split:** Sub-division of shares from a face value of **₹10 to ₹1**. * **Authorized Capital:** Increased from **₹20 Crore to ₹46 Crore**. * **Market Cap:** Approximately **₹1,200 Crore** (as of 2025). --- ### **Risk Management & Governance** The company operates under a structured governance model with a Board of **10 Directors** (**50% Independent**). * **Operational Contingency:** A fire incident in April 2025 at the Ahmedabad office impacted assets; insurance claims are currently being processed following surveyor assessments. * **Financial Risk Mitigation:** * **Credit Risk:** Managed via an **Expected Credit Loss (ECL)** model under **Ind AS 109**. * **Currency Risk:** **Zero exposure**, as the company currently avoids foreign currency transactions. * **Liquidity:** Maintains a **₹10 Crore** channel financing facility with IndusInd Bank, backed by promoter guarantees. * **Debt Profile:** Interest-bearing borrowings stood at **₹21.50 Crore** as of March 2025. The company actively monitors its gearing ratio to balance growth with financial stability. * **Defined Benefit Risks:** Actively manages interest rate and investment risks associated with employee gratuity and provident funds, primarily through regulated insurance instruments.