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Laxmi Organic Industries

Laxmi Organic Industries

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Sector: Refineries

Market Price

2,529.50

Market Cap(₹Cr.)

2,529.50

-90.00

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Overview

Laxmi Organic Industries is a leading manufacturer of Acetyl Intermediates and Specialty Intermediates with almost three decades of experience in large scale manufacturing of chemicals. Since its inception in 1989, it has been on a journey of transformation. It initially started manufacturing acetaldehyde and acetic acid in 1992, and soon thereafter moved on to manufacturing of ethyl acetate in 1996. It is currently among the largest manufacturers of ethyl acetate in India with a market share of approximately 30% of the Indian ethyl acetate market. Further, post completion of the Yellowstone Chemicals (YCPL) Acquisition, its market share in the ethyl acetate market will be further enhanced. In Fiscal 2010, the company commenced manufacturing the Specialty Intermediates by acquiring Clariant’s diketene business.

The company’s products are currently divided into two broad categories, namely the Acetyl Intermediates and the Specialty Intermediates. The Acetyl Intermediates include ethyl acetate, acetaldehyde, fuel-grade ethanol and other proprietary solvents, while the Specialty Intermediates comprises of ketene, diketene derivatives namely esters, acetic anhydride, amides, arylides and other chemicals. Its products find application in various high-growth industries, including pharmaceuticals, agrochemicals, dyes & pigments, inks & coatings, paints, printing & packaging, flavours & fragrances, adhesives and other industrial applications. It also proposes to diversify into manufacturing of specialty fluorochemicals to which end, it has recently acquired assets including plant & machinery, design and operating paperwork, REACH registrations and patents of Miteni, a manufacturer of organic fluorospecialties and electrochemical fluorination. The company currently have two manufacturing facilities in Mahad, Maharashtra, with one facility dedicated to Acetyl Intermediates and another dedicated to Specialty Intermediates, which are strategically located in proximity to several ports and each other.

Business area of the company

The company is a specialty chemical manufacturer that operates in 2 business segments; Acetyl Intermediates (AI) and Specialty Intermediates (SI).

Major events and milestones of company:

  • 1992: Commission of the AI Manufacturing Facility at Raigad for manufacturing of glacial acetic acid.
  • 1996: Commenced production of ethyl acetate.
  • 2004: Installation of two windmills at Chitradurga district, Karnataka with capacities of 0.6 MW each.
  • 2004: Receipt of ISO 9001-2000 certifications for manufacture and marketing of ethyl acetate, acetic acid and absolute alcohol.
  • 2006: Installation of windmill at Ghatnandre, Sangli, Maharashtra with capacity of 1.25 MW.
  • 2008: Expansion of ethyl acetate manufacturing capacity at the AI Manufacturing Facility to 51,000 MT.
  • 2008: Setting up of distillery at Jarandeshwar.
  • 2010: Acquisition of Clariant’s ketene/diketene business and expansion into diketene and diketene derivatives products by commissioning of the SI Manufacturing Facility.
  • 2010: Receipt of ISO 14001:2009 and OHSAS 18001:2007 certifications for manufacturing and marketing of ethyl acetate, acetic acid and its derivatives, acetaldehyde and absolute alcohol.
  • 2011: Increase from 8,900 MT to 13,380 MT in the capacity of diketene and diketene derivatives and expansion of ethyl acetate capacity to 120,750 MT.
  • 2011: Setting up of DSIR approved R&D centre at company’s SI Manufacturing Facility.
  • 2012: Investment by the International Finance Corporation in company.
  • 2013: Incorporation of company’s Subsidiary, Laxmi Organic (Europe) B.V., in Netherlands, Europe.
  • 2013: Incorporation of company’s Subsidiary, Laxmi Petrochem Middle East FZE in Sharjah.
  • 2018: Commissioning of company’s hydro-electric power project at Yedgaon.
  • 2019: Receipt of DSIR registration for the Rabale Innovation Centre.
  • 2020: Acquisition of assets from Miteni by VLPL.
  • 2021: Investment in Cleanwin Energy One LLP, which is engaged in the business of generation of renewable energy to acquire 26% stake, and execution of a power purchase agreement in connection therewith.

Awards, accreditations or recognitions:

  • 2018: The company won the Maharashtra Safety Awards - 2018 for Meritorious Performance in Industrial Safety During the Year 2017 in Chemicals & Fertilizers, granted by the National Safety Council – Maharashtra Chapter.
  • 2020: The company won the ICC Award 2019 for Excellence in Energy Conservation and Management, granted by the Indian Chemical Council.
  • 2020: The company won the 21st National Award for Excellence in Energy Management 2020 for Energy Efficient Unit, granted by the Confederation of Indian Industry for the manufacturing Unit 2 in Mahad.
Brands Of Laxmi Organic Industries

Brands Of Laxmi Organic Industries

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