Vinati Organics Ltd. (NSE: VINATIORGA) has reported the unfortunate demise of an employee due to an accident at its manufacturing facility in Maharashtra. The company confirmed that adequate insurance coverage is in place.
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About Vinati Organics Ltd.
Incorporated in 1989, Vinati Organics Ltd manufactures specialty organic intermediaries
and Monomers.
Key Points Product Offerings
The company’s product portfolio includes over 30 products across:
- Specialty Aromatics: It offers Iso butyl benzene (IBB), N-Butyl Benzene, Secondary Butyl Benzene (SBB), Tertiary Amyl Benzene, and other intermediates used to manufacture pharmaceutical products, flavor and fragrance ingredients, polymer additives, and more.
- Specialty Monomers: It offers a range of chemicals like 2-acrylamido 2-methyl Propane Sulphonic Acid (ATBS), N-Tertiary Butyl Acrylamide, N-Tertiary Octyl Acrylamide, etc that are used for designing unique polymer structures.
- Butyl Phenols: It manufactures Ortho Tertiary Butyl Phenol/2 Tert Butylphenol, Para Tertiary Butyl Phenol, 2, 6 Di Tert Butylphenol, etc.
- Antioxidants: It offers Veenox 1010, Veenox 1076, Veenox 168, antioxidant blends, etc.
- Miscellaneous Polymers: The company produces Miscellaneous Polymers like Vintreat Polymer, Vinplast 245, Vinflow HT, etc used in specialized applications such as construction, ceramics, etc.
- Inorganic Chemicals: It also manufactures potassium bicarbonate used across industries, from food processing to healthcare.
Market Leadership
The company is the world’s largest producer of IBB and ATBS with a 65% market share. It is the only manufacturer of TBA, TB, Amine, Butyl Phenols, OSBP, and DSBP.
Geographical Split
Exports: 55% in FY24 vs 68% in FY22
Domestic: 45% in FY24 vs 32% in FY22 The company has a presence across 40 counties.
Product Mix
IBB & ATBS: 49% in FY24 vs 63% in FY22 Other: 51% in FY24 vs 31% in FY22
Clientele
The company serves over 40 clients including Chemtall Inc., BASF Corporation, Mitsubishi Corporation, SNF, Dow Europe GMBH, etc. It enters long-term supply contracts with its customers, for its two primary products IBB and ATBS. [8] [13]
Manufacturing Facilities
The company operates 2 manufacturing facilities in Mahad and Lote, Maharashtra. [14]
Capex
The company is investing approximately Rs. 300 Cr in expanding its 2-Acrylamido 2 Methylpropane Sulfonic Acid (ATBS) capacity which is expected to be operationalized in H2 FY25. Veeral Organics (100% WOS) has outlined a capex of Rs 500 Cr on the new products including MEHQ and Guaiacol by 2,000 MT, Isoamylene Derivatives by 30,000 MT, and other products like 4-Methoxyacetophenone and Anisole. MEHQ will start contributing from FY26. The overall capex to be spent in FY25 would be approximately Rs. 570 Cr.
Merger
In December 2023, NCLT approved the amalgamation of Veeral Additives with the company. This merger has positioned the company as one of the leading antioxidant manufacturers in Asia, with a capacity of 24,000 TPA.
Renewable Energy
The company had commissioned 15 MW of solar power capacity in FY23 and added another 11.5 MW in FY24. Furthermore, it will be adding another 6.5 MW in FY25, bringing its total renewable energy capacity to 33 MW. Its electricity consumption from renewable sources is 44%.
Focus
The company expects a revenue growth of 15% to 20% in FY25 and a 20% CAGR over 3 years.
