OCIPL is engaged in the business of manufacturing, formulating, processing, producing, making, buying, selling, re-selling, importing, exporting, distributing, supplying, in all types, forms (solid, liquid and gaseous) and of all kinds of chemicals and chemical compounds (organic and inorganic), gels, downstream ingredients and byproducts and their related preparations, articles and products. It operates a manufacturing plant in Panoli, Gujarat with an annual capacity of around 20,000 MT of surfactants and is further adding capacity for other products as well. Its turnover was Rs 13.95 crore in FY24.
The company will acquire majority stake in Omkar Chemical Industries at an enterprise value of Rs 56.25 crore. The said acquisition is expected to be completed within 3-4 months
“The specialty chemicals market presents a significant opportunity across diverse sectors such as home & personal care products, food additives, plastics & polymers, agrochemicals, and lubricants & petrochemicals. AWL currently operates in this sector through third-party manufacturing and by importing from Wilmar’s plants,” the company stated in regulatory filing.
Saumin Sheth, chief operating officer (COO) of Adani Wilmar, said, “We are pleased to add these Specialty chemicals, which represent further downstream derivatization of our product portfolio. Through this acquisition, AWL will immediately establish a production footprint and capabilities that will allow us to better meet customer requirements. Downstream derivatization of our Basic Oleochemicals in select areas is a strategic focus for us, in line with the focus of our co-promoter Wilmar International which is the world’s largest Oleo-chemical manufacturer. We aim to bring the diversified product portfolio of Wilmar and its associates to India to better serve our customers.”
Adani Wilmar is a provider of Edible Oil, Vanaspati, and Specialty Fats. The company offers soyabean oil, sesame oil, sunflower oil, cottonseed oil, groundnut oil, mustard oil, groundnut oil, and coconut oil, as well as vegetable ghee. The company is one of the largest FMCG companies in India.
The edible oil major’s consolidated net profit surged 67.45% to Rs 156.75 crore in Q4 FY24 as against Rs 93.61 crore posted in Q4 FY23. Revenue from operations stood Rs 13,238.04 crore in Q4 FY24, down 4.57% from Rs 13,872.64 crore recorded in the corresponding quarter previous year.