### **Overview** Kemistar Corporation Limited (formerly *Integrated Amusement Limited*, incorporated in 1994) is a publicly listed Indian company on the BSE and NSE. Over the past two decades, the company has transformed from its origins in amusement to become a key player in the specialty and agrochemicals industry, with a strategic pivot toward sustainable resource recovery through advanced recycling. The company operates primarily through its wholly owned subsidiary, **K.P. International Private Limited**, which manages manufacturing and distribution operations across Gujarat. Kemistar has established itself as a globally competitive entity, serving domestic and international markets with a strong presence in the USA, Turkey, Mexico, Bangladesh, Colombia, Africa, and the Middle East. --- ### **Core Business Segments** 1. **Chemical Manufacturing** Kemistar operates across four core verticals: - **Colors & Pigments**: Initial focus area; includes dyes and colorants. - **Chemical Intermediates**: PNTOSA, DNSDA, DASDA (coming soon), and OBA. - **Agro Chemicals**: Products supporting agricultural productivity. - **Specialty Chemicals**: High-value, performance-driven chemical solutions. 2. **E-Waste & Critical Mineral Recycling (New Growth Vertical)** A distinct and fast-expanding business line, launched between 2024 and 2026, focused on: - Lithium-ion (Li-ion) and lead-acid battery recycling - Solar panel recycling - E-waste management and metal recovery (including copper and potash) This vertical is positioned to capitalize on growing global demand for circular economy solutions and India’s evolving regulatory landscape under Extended Producer Responsibility (EPR) and Production-Linked Incentive (PLI) schemes. --- ### **Manufacturing & Infrastructure** - **Dahej, Gujarat (GIDC/PCPIR Zone)**: Kemistar owns approximately **27,000 square meters** of land at this strategic industrial hub, benefiting from: - Exclusive rights to manufacture certain restricted chemicals - Access to robust effluent treatment infrastructure - Environmental clearances for ~70 chemical products - Wastewater discharge capacity of up to 600 kiloliters/day - **Production Phases**: - **Phase I**: Commercial production began August 2020 - **Phase II**: Launched June 2021, introducing PNTOSA and DNSDA - **Phase III**: Under development, aimed at expanding production of PNTOSA, DNSDA, DASDA, and OBA—key intermediates with strong export potential. - **New Facilities**: - A **multipurpose sulphonation plant** (900 MTPA capacity) installed to support future growth. - Recycling units for e-waste, Li-ion batteries, and solar panels operational since 2019–2024, with plans for multi-location expansion across India and overseas. --- ### **Subsidiary: K.P. International Private Limited** - Established in 2000; operates **three manufacturing plants** in Dahej, Ahmedabad, and Sanand. - Runs a **state-of-the-art e-waste recycling facility** at Dahej, authorized by the Gujarat Pollution Control Board. - Offers **end-to-end e-waste management** services, including: - Asset management - Certified data destruction - Logistics and safe transport - WEEE-compliant dismantling and recycling - Recovery of metals, plastics, and glass using cost-efficient, India-appropriate technology - **Strategic Partnership (July 2024)**: Received a **Letter of Intent (LoI)** from **Solex Energy Limited (NSE-listed)** for a **Strategic Supply Agreement (SSA)** to process used and waste solar panels—marking Kemistar’s formal entry into the renewable energy recycling value chain. --- ### **Market Reach & Export Profile** - Exports account for **~47% of total revenue** (as of March 2022), with expansion continuing. - **Export Markets**: USA, Turkey, Mexico, Bangladesh, Colombia, Spain, Brazil, Japan, South Korea, Thailand, Indonesia, Malaysia, Russia, and various African nations. - Strong domestic and global customer networks across both chemical and recycling segments. --- ### **Strategic Developments (2024–2025)** - **Technology Partnerships**: Actively pursuing collaborations with foreign firms, including a **technology partnership with a Chinese company**, to enhance capabilities in battery and solar panel recycling. - **Joint Ventures & Know-How Transfer**: Focused on growth via JVs in the recycling space, emphasizing technology transfer and operational expertise sharing. - **Expansion Roadmap to 2030**: - Significantly scale **domestic and overseas manufacturing capacity** - Establish **exclusive large-scale processing facilities** for critical clients - Invest in **advanced recycling technologies** targeting **rare earth and critical minerals** - Expand **lithium-ion and solar recycling footprint** across India and internationally --- ### **Sustainability & Environmental Commitment** - Emphasis on **eco-friendly, scientifically sound recycling practices** - Certified processes for safe handling, transport, and treatment of hazardous e-waste - Converts electronic waste into reusable raw materials using environmentally responsible methods - Aligned with national and international sustainability goals, including circular economy principles --- ### **Financial & Operational Highlights** - **Dahej plant expansion (June 2021)**: Added **1,800 MTPA** sulfonated product capacity - Despite pandemic-related challenges, **EBITDA rose 29% YoY** in FY 2020–21 to **INR 85.88 lakhs** - Diversification into recycling expected to **improve revenue stability** by reducing dependence on imported raw materials