Chembond Material Technologies is a specialty-chemicals maker that began in 1975 when its founder, Dr. Vinod D. Shah, started experimenting in a small kitchen in Lucknow before moving to a Mumbai balcony and eventually a shed in Parel - a journey from a one-man lab to a listed company with over five decades behind it. The recurring approach that explains the business is simple: it develops chemical formulations that solve specific industrial problems for Indian customers - treating metal surfaces before painting, sealing car bodies, keeping factory cooling towers free of scale - and it competes against global multinationals by being faster to tailor those solutions to local conditions. That same problem-solving instinct now reaches into animal nutrition through a wholly-owned subsidiary, giving the company two distinct engines fed by the same R&D culture.
Business segments
Three engines at different stages - a specialty-chemicals core built on decades of OEM relationships, a smaller biotech platform growing at nearly thirty percent, and a construction-and-water business that was recently separated into its own listed entity - each shaped by the same make-to-solve philosophy.
1. Material Technologies: the industrial-solutions engine that supplies automotive and steel factories
This is the company's largest business, built on chemical products that prepare metal surfaces, seal car bodies, and bond components - sold almost entirely to factories, with automotive OEMs as the anchor customer.
- Sells to factories, not consumers - the business is purely B2B, serving Indian and multinational OEMs in the automotive industry, plus steel mills, cold-forming shops, general industry, and white-goods (appliance) manufacturers. Every sale is a technical specification won inside a customer's production line.
- Three product families under one roof - the portfolio splits into automotive sealants (paint-shop sealants, underbody coatings, seam sealants), metal treatment chemicals (surface preparation for steel, cold forming, and white goods), and engineering adhesives. Together they cover the sequence of steps a factory takes to clean, protect, and assemble metal parts.
- New products are the growth engine - sales of automotive sealants have grown at a compound annual rate of 30% over the last three years, and almost all of that growth came from products introduced during that period. Recent launches include a low-density underbody coating that cuts weight and material use, and a seam sealant that eliminates the need for a separate curing oven - both of which reduce cost or energy for the customer.
- Building its own technology after outgrowing a partner - the company successfully developed products to replace imports from its former US-based technical partner, ND Industries, and is now expanding into electronic adhesives and battery-pack adhesives for electric vehicles and electricity storage. That shift turns a dependency into a proprietary product line.
- Four plants plus a new R&D centre - manufacturing is spread across Tarapur, Rabale, Pune, and Mahape in Maharashtra, and in FY26 a dedicated product-development centre for sealants, adhesives, and coatings was set up at Alandi (Pune) at a cost of over ₹5 crore, staffed by 14 scientists, engineers, and chemists. A further 10-acre plot in Belagavi, Karnataka, has been allotted for a new manufacturing unit covering all Material Technologies lines plus Biosciences.
2. Biotech: animal nutrition, built on enzymes and probiotics
Operated through the wholly-owned subsidiary Chembond Biosciences, this business makes feed additives - enzymes, probiotics, prebiotics, and vitamin-mineral premixes - for poultry, dairy, and aquaculture farmers across India.
- A nationwide B2B nutrition platform - the business sells into the poultry, dairy, and aqua (fish and shrimp farming) segments, with a go-to-market model that runs seasonal campaigns, webinars, customer-engagement initiatives, and nukkad meetings (local street-corner gatherings) to reach farmers. The Indian animal-health market was valued at ₹92.62 billion in 2025 and is projected to grow at roughly 7% a year.
- In-house manufacturing of live biology - the subsidiary's own R&D and production focuses on probiotics, prebiotics, enzymes, biosecurity products, feed additives, and vitamin-mineral premixes. Because the products involve live microorganisms and fermentation, the manufacturing process is closer to biotech than to conventional chemical blending.
- Dairy doubled, then structured for retail - the dairy-nutrition business doubled during FY22 and adopted a structured model; the company also signed a co-marketing joint venture with GRG ATM in Gujarat to build its brand among small and marginal dairy farms. That gives it a retail-facing channel in a segment where trust travels by word of mouth.
- R&D aimed at better delivery, not just new molecules - the development focus includes new probiotics with improved delivery systems, so the active biology survives longer in feed and inside the animal. The biotech group also works on improving its fermentation and downstream processing methods.
Group structure and partners
The company simplified its corporate structure in 2025 through a court-approved demerger that split the original Chembond Chemicals into two separately listed entities - one holding the industrial and biotech engines, the other holding construction chemicals and water treatment.
- The listed parent is now Chembond Material Technologies - formerly named Chembond Chemicals Limited, it retained the Material Technologies and Biosciences businesses after the demerger became effective on May 3, 2025. The Promoter Group holds just over 68% of the equity.
- Construction Chemicals and Water Technologies were moved out - those two businesses were demerged into a newly incorporated company, Chembond Chemical Specialties Limited, which was then renamed Chembond Chemicals Limited and separately listed on the BSE and NSE in July 2025. Shareholders received two shares in the new entity for every one share they held in the original company.
- One wholly-owned subsidiary remains - Chembond Biosciences Limited, incorporated in 2011, runs the animal-health and nutrition business and is fully consolidated.