### **Overview** **AksharChem (India) Limited**, founded in 1989 by Mrs. Paru M. Jaykrishna, is a leading Indian specialty chemicals manufacturer headquartered in Ahmedabad, Gujarat. The company is publicly listed on both the BSE and NSE and has built a strong reputation over three decades for quality, reliability, and innovation. It operates in two key segments: **organic chemicals** (dyes and pigments) and **inorganic chemicals**, serving a global clientele across more than 30 countries. --- ### **Core Business & Product Portfolio** AksharChem manufactures and supplies high-performance specialty chemicals catering to six core industries: textiles, printing inks, paints, rubber, plastics, and agrochemicals. #### **Key Products:** - **Vinyl Sulphone (VS):** A reactive dye intermediate for textiles; one of India’s largest exporters (~40% of national exports), with non-carcinogenic grades serving high-end international markets. - **H-Acid:** A critical dye intermediate for textile fastness; produced via backward integration, enhancing cost and supply control. - **CPC Green:** A stable, insoluble pigment used in printing inks, rubber, plastics, and paints; AksharChem is recognized as a **global leader**, holding an estimated **10% global market share**. - **Precipitated Silica:** A strategic growth engine, used as a reinforcing agent in tyres, rubber, agrochemicals, and animal feed. Marketed under the brand **AKSIL**, it includes conventional, micro pearl, and highly dispersible grades. --- ### **Manufacturing Infrastructure** The company operates **two modern, fully integrated manufacturing facilities** in Gujarat’s chemical hub: 1. **Mehsana Plant:** Produces Vinyl Sulphone, H-Acid, and CPC Green with automated systems and centralized controls. 2. **Dahej Plant (Inorganic Chemicals Unit):** A state-of-the-art, centralized, DCS-controlled facility producing various grades of **Precipitated Silica**. **Capacity Highlights (as of Aug 2025):** - **Vinyl Sulphone:** 7,800 TPA - **H-Acid:** 1,200 TPA - **CPC Green:** 2,400 TPA - **Precipitated Silica:** Expanded from 12,000 to **18,000 TPA** (completed FY24–25) Both facilities are equipped with: - Fully automated **Distributed Control Systems (DCS)** - In-house laboratories with ISO/ASTM-compliant testing - PLC-controlled utilities (ETP, RWTP, Boiler) - Flexible automated packaging for small and jumbo bags Strategic location ensures proximity to raw material suppliers, ports, and highways—enhancing supply chain resilience and reducing logistics costs. --- ### **Strategic Diversification & Growth Drivers** #### **1. Expansion into Precipitated Silica** - Launched commercial production in July 2021; achieved **100% capacity utilization** by FY24. - Precipitated Silica contributed **16% of total revenue** in FY24–25, with sales of **11,911 MT**. - **170% YoY volume growth** in FY22–23, and **26.2% increase** in FY23–24 demonstrate strong market acceptance. - Products approved by **all major Indian tyre manufacturers** and several global players in Asia and Europe (e.g., Sri Lanka, Bangladesh, Turkey, Vietnam). - Strategic focus on **eco-friendly, high-performance silica** as a sustainable alternative to carbon black in green tyres. #### **2. Capacity & Capital Investment** - ₹45.5 Crore invested in capex to expand Dahej Precipitated Silica unit. - Successful commissioning of **Phase-wise capacity expansion** from 12,000 to 18,000 TPA. - Future plans include **Phase 3 expansion** and development of **highly dispersible silica (HDS)** for advanced tyre applications. #### **3. Product Innovation** - Development of **customized, specialty grades** tailored to customer specifications. - R&D focus on **sustainable variants**, including high-absorptivity grades for agrochemicals and animal feed. - Application-focused innovation to penetrate coatings, plastics, and packaging inks. --- ### **Market Position & Customer Base** - **Exports:** Accounted for ~50% of sales in FY23, declined to **43% in 9MFY25** due to strong domestic traction. - **Domestic Focus:** Deliberate shift to reduce reliance on volatile global markets; growing domestic sales of dye intermediates and silica. - **Global Reach:** Exports to over **30 countries** across North America, Europe, Middle East, Africa, and Asia-Pacific. - **Customer Relationships:** - Long-standing ties with international clients (some >25 years). - **95% repeat business rate**, with several global customers recognising AksharChem as a **“Preferred Supplier”**. - REACH-registered for CPC Green exports to EU up to 1,000 MTPA. --- ### **Regulatory & Operational Excellence** - **Quality Standards:** Zero customer returns due to quality; strict adherence to ISO 9001, ISO 14001, and REACH norms. - **EHS Compliance:** Full compliance with global environment, health, and safety standards. - **Automation & Efficiency:** High level of automation ensures consistent quality, precision, and operational synergy. - **Supply Chain Resilience:** - 75% of raw material suppliers under **long-term contracts**. - Strategic location in Gujarat enables just-in-time procurement and multimodal logistics. --- ### **Financial & Strategic Outlook** #### **Recent Performance (FY24–25):** - **14.6% revenue growth**; return to profitability after a corrective period. - Strong net worth of **₹2,591.86 crores** and a low **net debt-to-equity ratio of 0.20**, ensuring financial stability. - Effective cost management, improved product mix, and higher capacity utilization have enhanced margins. #### **Growth Strategy:** - **Diversification:** Reduce dependence on dye intermediates (revenue share from 66% in FY18 to 44% in FY23) by scaling CPC Green (30%) and Precipitated Silica (21% in FY23 → 16% in FY24, increasing in volume). - **Capacity Scaling:** Fully utilize expanded 18,000 TPA silica capacity; target top 3 silica supplier in India and globally on **quality and service**. - **Domestic & International Expansion:** - Strengthen presence in Indian tyre and rubber sectors. - Leverage domestic success to expand overseas, especially in Southeast Asia and Europe. - **Sustainability Focus:** Align with global trends toward eco-friendly chemicals; position silica as a green alternative in tyre manufacturing. --- ### **Leadership & Governance** - **Chairperson & Managing Director:** Mrs. Paru M. Jaykrishna (30+ years of industry experience). - **Joint MD & CEO:** Mr. Munjal Jaykrishna. - **President – Silica Unit (Dahej):** Mr. Sachin M. Jaykrishna (26 years old, Lehigh University graduate), credited with rapid growth of the AKSIL brand. - Professional leadership team with **average 29 years of industry experience**. --- ### **Recognition & Market Standing** - **Three Star Export House** (Government of India) - Certified under **ISO 9001:2015** (Quality) and **ISO 14001:2015** (Environmental Management) - Ranked among **India’s top exporters** of Vinyl Sulphone and a **world leader in CPC Green** - Positioned to benefit from global supply chain shifts away from China, with growing demand for **"Make in India"** chemical products.