Yasons Chemex Care Limited is a Gujarat-based manufacturer and trader specializing in a diversified portfolio of **dyestuffs, chemical intermediates, and Fast-Moving Consumer Goods (FMCG)**. As a subsidiary of **Yash Chemex Limited**, the company operates a vertically integrated model designed to capture value across the chemical supply chain while expanding into high-margin consumer personal care segments. --- ### Integrated Manufacturing & Strategic Infrastructure The company’s operations are strategically concentrated in Gujarat’s premier chemical industrial zones, providing a competitive advantage through shared infrastructure and regulatory ease. | Facility | Location | Strategic Advantage | | :--- | :--- | :--- | | **Unit-1** | Changodar, Sanand, Ahmedabad | Located in Shreeji Krupa Industrial Estate; focused on FMCG and specialty lines. | | **Unit-2** | Vatva, Ahmedabad | Situated in GIDC Phase-2; provides direct access to the **Common Effluent Treatment Plant (CETP)** for efficient waste management. | **Operational Synergy:** Proximity to other chemical manufacturers in Gujarat facilitates **knowledge sharing, collaborative R&D, and optimized transportation** of raw materials. The company prioritizes **sustainability** through advanced waste management initiatives and environmentally friendly manufacturing techniques. --- ### Diversified Product Ecosystem Yasons operates under a single reportable business segment but maintains three distinct product verticals: #### 1. Chemicals & Dyestuffs * **Core Portfolio:** High-quality **dyestuffs, pigment pastes, and chemical intermediates**. * **Market Dominance:** The **Textiles segment** is the primary revenue driver, commanding a **65.6% market share** as of 2024. * **Growth Catalyst:** The **Printing Ink** industry is projected as the fastest-growing segment through **2033**, driven by the superior color density of dye-based inks over pigments. #### 2. FMCG & Personal Care * **Product Range:** Includes **Hair Re-Growth Oil, perfumes, deodorants, hand-made soaps, hand sanitizers, and skincare essentials**. * **Bespoke Manufacturing:** The company has expanded into **customized product manufacturing**, tailoring chemical and FMCG solutions to specific institutional client requirements. #### 3. Trading Operations * **Scope:** Distribution and trading of **all kinds of chemicals**, leveraging the parent company’s network to provide a comprehensive sourcing solution for clients. --- ### Capital Structure & IPO Fund Utilization The company successfully transitioned to the public markets via an **Initial Public Offer (IPO)** on the **NSE EMERGE** platform on **August 3, 2023**. * **Total Funds Raised:** **INR 20.57 Crore** (at **INR 40** per share). * **Capital Expansion:** Post-IPO, paid-up equity share capital increased from **Rs. 14.16 crore** to **Rs. 19.30 crore**. * **Utilization Status:** As of May 2025, issue-related expenses of **Rs. 339.37 lakhs** have been fully utilized. Remaining proceeds are earmarked for scaling manufacturing capacity and strengthening the business footprint. * **Reinvestment Strategy:** Management maintained a **zero dividend payout** for FY 2023-24, transferring **100% of Net Profit (INR 1.24 crore)** to reserves to fund future development. --- ### Financial Performance & Subsidiary Growth Yasons has demonstrated resilience despite global geopolitical volatility and inflationary pressures. **Standalone Financial Summary:** | Metric (Rs. in Crore) | FY 2024-25 | FY 2023-24 | FY 2022-23 | | :--- | :---: | :---: | :---: | | **Revenue from Operations** | **45.84** | **47.67** | **36.77** | | **EBITDA** | **2.17** | **4.67** | - | | **Profit After Tax (PAT)** | **1.61** | **1.24** | **3.43** | **Subsidiary Performance (Rishit Polysurf LLP):** The company holds a **99% stake** in Rishit Polysurf LLP. This subsidiary is a significant growth engine: * **FY25 H1 Performance:** Reported assets of **₹18.56 crore** and a net profit of **₹29.63 lakhs**. * **Consolidated Impact:** In FY24, consolidated revenue reached **Rs. 69.24 crore**, an **88.30% year-on-year increase**, largely driven by the integration of this subsidiary. --- ### Risk Management & Mitigation Framework The company employs a structured **Risk Management Policy** overseen by the Board and Audit Committee to navigate market uncertainties. #### Financial & Market Risks * **Price Volatility:** Exposure to **Active Pharmaceutical Ingredients (APIs)** and raw material price cycles. The company currently does **not use derivative contracts** for hedging. * **Liquidity & Debt:** Risk is rated **very low**. The company relies on **operating cash flows and equity**. Non-current borrowings were reduced from **Rs. 77.37 lakh** (FY23) to **Rs. 42.08 lakh** (FY24). There are **no short-term bank loans** outstanding. * **Credit Risk:** Managed via a simplified **Expected Credit Loss (ECL) model**; the company has a negligible history of bad debts. #### Employee Benefit Obligations (Gratuity) The company manages long-term liabilities with a weighted average duration of **9.32 years**. Key risks include: * **Actuarial Risk:** Potential for salary growth to exceed assumptions. * **Market Risk:** Sensitivity to the **discount rate** (lower rates increase the Defined Benefit Obligation). * **Legislative Risk:** Potential changes to the **Payment of Gratuity Act**. --- ### Governance & Compliance Outlook While the company maintains a **statutory compliance management system** audited by external chartered accountants, it has identified areas for administrative improvement: * **Compliance Gaps:** In FY 2023-24, the company noted a temporary absence of an **Internal Auditor** and delays in filing certain statutory forms (e-Form MGT 14). * **Transparency:** Management is addressing a noted gap in **Information Technology** updates regarding the corporate website to improve investor communication. * **CSR Status:** Currently exempt from CSR Committee requirements under **Section 135(1)** of the Companies Act. ### Strategic Roadmap Yasons Chemex Care is positioned to capitalize on the fact that the **Indian chemical industry** currently contributes only **3% to global production**, suggesting a significant runway for domestic players. The strategy focuses on **multi-site manufacturing prowess**, **bespoke chemical solutions**, and the transition toward **eco-friendly specialty chemicals** to capture higher market share in both domestic and emerging international markets.