1. 5K:1K capacity expansion - Phase 1 debottlenecking adds 6,000 MTPA (to 54,000) by September 2026, with Phase 2 adding 12,000 MTPA by September 2027 and Phase 3 another 6,000 by September 2028, for \~₹1,400 crore total capex funded largely by internal accruals. At \~90% utilization, the 50% capacity increase to 72,000 MTPA directly expands the revenue base from the current ₹2,671 crore run-rate.
2. Furfural-based chemistry vertical - The company will be the only one fully integrated from corn cob to Maltol, Ethyl Maltol and Cyclopentanone, expected to add about ₹1,000 crore-plus to revenue, with furfural plants mechanically complete by mid-2027 and contributions from H2 FY28. This vertical alone represents roughly 37% of current revenue, from molecules where over 95% of global supply is Chinese.
3. PRIGIV JV ramp-up - The Givaudan JV achieved profitability in Q4 FY26, delivered \~₹18 crore revenue in Q1 FY27 at 14-15% EBITDA, and is targeting at least ₹300 crore revenue in 3-4 years versus ₹55 crore last year. A fresh ₹50 crore equity infusion from both partners funds the next phase of capacity additions.
4. Merger of Privi Fine Sciences - The scheme is filed with NCLT post no-objection letters from both exchanges, expected to complete this financial year, adding \~6,000 MTPA capacity and products like Prival and Anethole. Privi Fine Science can deliver optimum capacity and revenue of about ₹400 crore post-consolidation.
5. New specialty products pipeline - Four products were commercialised in FY26 (Floravone, Indomerane, Amber Woody, Xtreme), with 15-plus innovation projects in progress and 10-odd high-margin specialty molecules expected to contribute over the next 15 months. The VAP plant at Mahad converts by-products into premium molecules delivering margins above the portfolio average.
6. State incentives and Ultra Mega status - The company received \~₹13 crore from Gujarat and Maharashtra, with a 9% GST benefit for 15 years that extends to 20 years upon completing ₹1,500 crore investment by March 2027. The annualized incentive of ₹7-10 crore rises as sales grow, and the 20-year window doubles the benefit for Maharashtra sales.
7. Solar power and renewable energy - A 5 MW open-access solar plant is under commissioning, with a 3.5 MW hybrid solar-wind project at Jhagadia in final planning stages, supporting the target of 75% renewable energy by 2032. Nearly 47% of power needs are already met through renewables, and further solar investment directly cuts electricity costs.